I wish it was vacation time again. Soon, though, right? I was talking to Elaine and our plan has been to move to Hawaii when the community sites go dark. I'm not sure we're going to be able to do that.
I'm ready to live there full time as is she. We're not moving tomorrow. She's got her patients and other things and I've got stuff to do as well.
But I'm ready to move right now. More than ready.
Barry Grey (WSWS) reports:
The US Federal Reserve Board secretly handed out trillions of dollars in virtually free loans to major American and European banks at the height of the financial crisis between 2007 and 2010, according to an article posted Sunday by Bloomberg News. The article, based on an independent investigation carried out by Bloomberg of previously sealed Federal Reserve documents, is headlined "Wall Street Aristocracy Got $1.2 Trillion in Loans from Fed."
The amount cited in the headline is somewhat misleading, as it refers only to the highest single-day amount of outstanding Fed loans under seven emergency programs the US central bank launched to cover the bad debts of the Wall Street elite. The $1.2 trillion figure is undoubtedly lower than the total amount in loans disbursed over the course of the programs' existence, including loans to banks that came to the Fed for money multiple times.
The amounts involved were far greater than the cash injections provided the banks under the US Treasury's $700 billion Troubled Asset Relief Program (TARP). Under that program, the ten biggest US banks received a total of $160 billion in cash, while, according to Bloomberg, they obtained $669 billion in emergency loans from the Fed.
Wow. They got that and they got our tax dollars via the Congress (really via Barack who strong armed the House -- specifically the Black Caucus -- to pass it).
They got all the money. What the hell did we get?
Here's C.I.'s "Iraq snapshot:"