Problem? Yes. We need a lot of money to keep the world from imploding. Solution: Let’s throw money at it, again.
The Icing and Cherry On Top: That means that a lot of people are making money on Wall Street today as the market takes a nice ride through Commission City. Yes, once again, the world gets fucked and Wall Street and The One Percenters pocket the money!!! Loves it.
A summary of the typical response to a financial crisis? Throw money at the rich, save the world by saving its financial institutions, and arrest the bastards out at #OccupyWallStreet!!
And guess who made the list?
- A 99Percenter and #OWS Favorite: Bank of America, with the FEDS saying they are ready to use their ‘tools’ if BOA hits $4.00!
- Oh yeah, the Rest of The World : FED, ECB, BOJ, BOE, SNB, BANK OF CANADA LOWER SWAP RATES- BBG
- And, a special little nugget: ECB, FED other major central bank to lower the pricing of existing USD liquidity swaps by 50BPS
- Oh and your wallet should be crying a little as The WorldWide Dollar Crunch was also duly noted!
Who will bail out the rest of America as students default on their loans, people default on their mortgages, and the One-Percenters on Wall Street (and across the world) lose their once (insanely $$$) cushy finance jobs? Oh yes, nobody! It’s gonna suck, to say the least.
- Fed secretly handed out $8 trillion (rt.com)
- Two Fed Members Speak, Contradict Each Other (zerohedge.com)
- Markets Surge As Fed/ecb/boj/boe/snb/boc Announce Coordinated Intervention (businessinsider.com)
- Too Big to fail – $7.77 trillion of your money is what the FED gave to rescue the big US banks in secret – That’s more than half the GDP of the United States of America (panokroko.wordpress.com)
- Fed, other central banks act to ease strains in world markets (usatoday.co
- Fed, ECB offer aid for global financial system
- Federal Reserve Keeps Europe At Arm’s Length (huffingtonpost.com)
- Central banks shift into high gear to stem crisis (business.financialpost.com)
- Fed lent banks trillions during crisis, report says (bottomline.msnbc.msn.com)
- Read the Fed’s statement (theglobeandmail.com)
- Central Banks Move to Shore Up Markets (online.wsj.com)
- Global Central Bank Intervention Arrives (247wallst.com)
- Central banks move to ease European dollar crunch (ftalphaville.ft.com)
- Thank you http://planetsave.com/2011/11/30/federal-reserve-bailout-of-big-banks-robbed-u-s-big-time/ for awesome information!