$1.2 Trillion in Secret Loans to Wall Street Crony Capitalists

Ask yourself if this is the sort of thing you ever expected to see happen in America:

Fed Chairman Ben S. Bernanke’s unprecedented effort to keep the economy from plunging into depression included lending banks and other companies as much as $1.2 trillion of public money, about the same amount U.S. homeowners currently owe on 6.5 million delinquent and foreclosed mortgages. The largest borrower, Morgan Stanley (MS), got as much as $107.3 billion, while Citigroup took $99.5 billion and Bank of America $91.4 billion, according to a Bloomberg News compilation of data obtained through Freedom of Information Act requests, months of litigation and an act of Congress.

Bernanke’s secretive and grotesquely excessive generosity with our money is not limited to US companies:

The Royal Bank of Scotland in Edinburgh received $84.5 billion, UBS AG out of Zurich got $77.2 billion, German Hypo Real Estate Holding AG received $28.7 billion. Bloomberg reports that this equals an average of $21 million for every single one of Hypo Real Estate Holding’s 1,366 employees.

Yet moonbats screech like stuck pigs when Rick Perry uses the phrase “almost treasonous” to describe Bernanke’s outrages.

End the fed now.

helicopter-ben-bernanke
Every fistful of cash he throws makes your savings worth less.

On tips from Shawn and AC. Cross-posted at Moonbattery.

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