Who Took the Most Bailout Money from the Fed?
Bloomberg just published a great article that I wanted to share with you all that is titled, ‘The Fed’s Secret Liquidity Lifelines.’ From August 2007 until April 2010, the Fed pumped $1.2 MM in bailout money to banks and companies. And YES, this was public money used to bail out institutions and organizations that were just downright greedy. Now guess who’s footing the bill? That’s right, you are!!
But who were the biggest takers of these loans from Uncle Ben?
Morgan Stanley was the largest taker of $108 Billion in September of 2008, following by Citigroup and Bank of America. Some of the names on this list will shock you, including General Electric and Harley Davidson. Many of you reading this were probably unaware that the Fed actually bailed out whole Countries with your precious tax dollars, including Mexico, Scotland, and many, many more.
Want to get really angry about where your tax Dollars went and who those Dollars bailed out? It is actually appalling when you see the list with your own eyes. Take a look at this infographic by Bloomberg of the list of banks and other companies that received public bailout money from the U.S. and leave your comments below. My comment? Good ol’ Uncle Ben Bernanke should be in prison. Here’s the list on Bloomberg, read it and weep: http://www.bloomberg.com/data-visualization/federal-reserve-emergency-lending/
