Bloomberg: Government has spent 12.8 Trillion buying up/shoring up banks. Still no mortgage help.
Posted by iusbvision on April 1, 2009
As we reported earlier, when it was at 9.7 Trillion that was enough to pay off 90% of all mortgages in the United States – LINK. Instead of fixing toxic assets, mortgages and housing the government decided to turn around and use out money to buy up and get control of the banks – LINK. Now it is 12.8 trillion which is more than enough to buy up all of the toxic assets and essentially fix most of the problem, but none of that has been done. We are being scammed.
Bloomberg News now reports 12.8 trillion.
March 31 (Bloomberg) — The U.S. government and the Federal Reserve have spent, lent or committed $12.8 trillion, an amount that approaches the value of everything produced in the country last year, to stem the longest recession since the 1930s.
New pledges from the Fed, the Treasury Department and the Federal Deposit Insurance Corp. include $1 trillion for the Public-Private Investment Program, designed to help investors buy distressed loans and other assets from U.S. banks. The money works out to $42,105 for every man, woman and child in the U.S. and 14 times the $899.8 billion of currency in circulation. The nation’s gross domestic product was $14.2 trillion in 2008.
The IUSB Vision Weblog 
doc said
Bloomberg is wrong about that number. “Using $75 to $100 billion in TARP capital and capital from private investors, the Public-Private Investment Program will generate $500 billion in purchasing power to buy legacy assets, with the potential to expand to 1 trillion”
So… Obama used CAPITALIST to leverage the BUSH-PASSED MONEY into a HALF-TRILLION today with the potential to expand to A TRILLION.
Obama’s plan was SMART. Republican pundits on the radio MISREAD the PPIP program and have been blasting the country with IDIOCY.
[Dear Partisan,
Like I said, while you are playing a partisan sporting event, saying republicans are stupid and Obams is smart, you are too blinded by partisanship to see that the policy pursued under Obama is largely the same with just a lot more of it and faster. I love the attitude, when Bush does it its dumb, when Obama does more of it its smart….. gimme a break.
Also, what Obama is doing here is not capitalism, it is far reaching “political market capitalism” also known as “corporatism”. Those are two terms that you should punch into the search feature of this site to learn what is going on as it has been done in history before. It is not capitalism. – Editor]
1337cshacker said
Doc, you are mistaken, The article is correct and that number is accurate. The treasury and white house admits “The number 750 million was just a number, we needed something big but not too big.” If you bear with me, I can explain.
In 1917 the Federal Reserve Act (which established the bank that currently prints our money and regulates it) was passed as most of congress was away for Christmas. This was after the Aldrich bill failed, because majority of congress then KNEW, ALDRICH was a CENTRAL BANKER. Not a banker at all but a con-man, like mogan stanly, rothschild, rockerfeller, all criminal con-men who print money out of nothing and claim they are a bank.
Doc, you are in the matrix of left and right. Obama supports the central banks and their war on humanity, trough illegal taxation (irs not state tax) inflation, and interest, will steal everything we have. They changed the leveraging ratio of knowingly bad debt from 3/1 to unlimited/1. Only con men would do this with the intention of ripping people off, getting REAL assets (majority of the worlds gold is owned by central banker familys, IMF all stolen out of fort knox, sold overseas)
Look into this documentary, “The money masters”. It breaks down the document “Modern Money Mechanics”, that the bankers themselves released, detailing how their system works.
Basically money is borrowed from the bank by the gov, at a crude interest, normally 40%. For every dollar loaned a dollar 40 must be returned when called by date. So the gov (criminal infiltrated gov, not the legitimate gov you think we have) is just allowed to borrow more and more, until they decide to quit. When more money is needed more is printed, it’s new wealth STEALING THE WEALTH of the bills in YOUR wallet, from everyones equally. Like more glasses being made with the same amount of water, you must spread out the water to have equal fill lines. These currencies controlled by “bankers” are more devastating to corrupting politics and destroying countries than standing armies. This is how hitler got started bro. OBAMA YOUTH STAZI, checking your carbon footprint and taking your guns. Gj failure.
They (bankers, bilderburg) effectively have a trigger on when they want it all to collapse, everything that is debt based, your house, car, will be theirs. All Federal Reserve Notes (aka what you mistakenly call dollars) will be worthless.
Pull out a bill in your wallet, If I am right about anything, it says “Federal Reserve Note.” If it were legal currency it would say “US Silver Certificate.” Based on something other than debt.
I am right, if you watch “The Money Masters” free on internet via google search, you will see. You will then have the power to ensure your life, or at least, try, and not live as a economic slave from cradle to grave.”
Also, you give no source to your made up fox news cnn news number.
Joy Garner said
THANK YOU FOR PUTTING IT ALL TOGETHER AND REPORTING THE TRUTH!
[Hey Joy thanks so much, stop by any time. – Editor]