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How Wall Street Continues to Pay Themselves Billions in Bonuses

Updated on March 15, 2010

Bank Bailout Secrecy

Timothy Geithner - US Treasury Secretary and former NY Fed Chairman Geithner is the current Frontman for the Fraud
Timothy Geithner - US Treasury Secretary and former NY Fed Chairman Geithner is the current Frontman for the Fraud

The Bailout Fraud Continues to Reward the Criminal Bankers

If someone told you that you could have a Billion Dollar loan at ZERO percent interest would you take it? Of course you would? And what would be the “safe” thing to do? It would be to buy Government Backed financial instruments that pay interest. So in effect you are making a profit for doing ABSOLUTELY NOTHING. This is the current Wall Street Scam at play and has the blessing of the Obama Administration and the Republican Party.

Your Tax Dollars are paying these bonuses. And nothing is being done to stop it!

The Federal Reserve Bank is in fact giving Billions to Wall Street... in particular Goldman Sachs. And they are NOT making public the arrangements. In fact Secretary of the Treasury at the time of the Bailout - Paulson INSISTED ON IT (Privacy)!

Fed Defies Transparency

If the links doesn't work you can cut and paste this URL.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aOngFPgq7r3M&refer=home

So all that is happening is the Wall Street Banks are receiving Interest Free loans from the Federal Reserve in nearly any amount they want. Then they take this FREE MONEY and use it to buy anything they want - including US Backed Securities. This is a can't lose proposition for Wall Street. They get money at ZERO percent interest to reinvest in Government backed securities that pay interest - all backed by the tax payers. It's outright theft from the American People.

These profits are artificial. But they claim they are making money so they justify their huge bonuses.

This is just another reason whey the Federal Reserve must be abolished. And yes you can Blame the Bush Administration as they were the primary instigators in this scam on the people, but you can also blame TEAM OBAMA as they are playing along as if it is not occurring.

Goldman was the very reason AIG failed so badly as they were the company that sold AIG on insuring Bundled Sub-Prime Mortgage loans. So AIG was on the Hook to Goldman Sachs for Billions.

Goldman Sachs got AIG to buy the bad paper by manipulating the Bond Ratings.

Goldman Sachs has plenty of current and former Goldman's Executives in power in the Government. Treasury Secretary Henry Paulson was the CEO of Goldman Sachs. The Bush Administration was full of Goldman Sachs influence. Paulson cashed in his $700 million fortune TAX FREE thanks to George Bush under a special law that exempted Executive Branch employees from paying tax on investments divested to take a position in Government. Gee I wonder why they take a position in Government?

People need to wake up and realize the SCAM that the FEDERAL RESERVE REALLY IS and how it STEALS from the American People.

Abolish the Federal Reserve. With out a Federal Reserve these secret back door payoffs would not be possible!!! The people involved in the Bank Bailout both inside and outside of Wall Street itself are criminals! George Bush, Henry Paulson, Timothy Geithner, Ben Bernanke… and everyone in TEAM OBAMA that knows full well of the scam – including the President – and continues to let these people steal from Americans.

The American People have a RIGHT to know how their money is being spent. No more secrecy, no more special back door deals, no more bailing out the super rich. Demand the Federal Reserve is Abolished – or pay the price!

Comments

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  • Truth Please profile image

    Truth Please 6 years ago from Inside Your Head

    Great article! For anyone not sure if the Fed should be abolished, check out the link to Money Masters on my profile page. It goes over the history of bankers and their push for a central bank.

    Dude, you hit the nail on the head. It is so perverse that these bankers have gotten away with stripping the power to issue money away from Congress.

    A small group of elite, private bankers should not be able to control the "business cycle" as they call it. Central banks have caused every financial depression in American history.

    They need to go - as does the whole fractional reserve lending system. Get rid of that, and there would be no excuses for a central bank.

    Voted up, and following you.

  • JeniferD profile image

    JeniferD 8 years ago from Sin City Nevada

    As long as Americans are at wit's end about unemployment and the housing foreclosures, the fed and the WH will continue to rob tax payers blind. They break laws all the time and don't care because of the legislation that THEY put in place that protects the government from prosecution.

    Gotta love that double standard!

    You do know the fed is also using our tax dollars to gamble on Wall Street?

  • billyaustindillon profile image

    billyaustindillon 8 years ago

    Be interesting if anything comes out of the senate banking enquiry - I don't it!

  • breakfastpop profile image

    breakfastpop 8 years ago

    Interesting and provocative hub. You make a very strong case for abolishing the Fed.

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