The Federal Reserve’s Secret 1.2 Trillion Dollar Wall Street Bailout

Originally posted on Pa'lante Latino:

by Efrain Nieves

The Federal Reserve secretly bailed out Wall Street banks in 2008. The top 3 banks were, Morgan Stanley with a $107.3 billion bailout, Citigroup borrowed $99.5 billion and Bank of America with $91.4 billion.

In 2006, Citigroup and Bank of America profited 104 billion dollars. Yet, by 2008,  Citigroup and Bank of America borrowed “$669 billion in emergency loans from the U.S. Federal Reserve” according to bloomberg.com.

The tax payers money, OUR money, floats around Wall Street while we lose homes, go hungry and live way under the cost of living. The Federal Reserve does not recognize we the people, only we the corporation via the people money. I think it’s time to do away with the fed and get banks out of government before  99 percent becomes the rate of Americans unemployed.

For a list of all banks that borrowed  and detailed information follow this link to bloomberg.com.

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