Thread: Visualizing $1.2 Trillion Secret Fed Bailouts To Kleptocracy

Visualizing What $1.2 Trillion In Secret Fed Bailouts To The Banking Kleptocracy Looks Like

Submitted by Tyler Durden
on 08/21/2011 23:07 -0400
Comments: 106

While Bloomberg has done a tremendous job of digging through 29,346 pages of FOIA data, its discovery is not at all surprising: that Wall Street's (not to mention the rest of the world's) biggest banks received a total of $1.2 trillion in previously secret Fed loans, in addition to the trillions in public backstops and loans from the US Treasury. As a reminder, "denominated in $1 bills, the $1.2 trillion would fill 539 Olympic-size swimming pools." The best summary of this ongoing collusion between the Fed and Wall Street, in which it once again for the nth time becomes clear that all the Fed cars about is making sure its banking masters are never impaired, is from the article itself: "Even as the firms asserted in news releases or earnings calls that they had ample cash, they drew Fed funding in secret, avoiding the stigma of weakness." And there you have it: everything that come out of Wall Street is and has always been a lie: either courtesy of 30 years of great interest rate moderation, in which only cheap money adds to banks' top and bottom lines, or due to the Fed making sure the same banks never suffer a dollar loss when central planning fails, such as it does increasingly often lately (and forget about 10(b)-5 violation charges coming from the corrupt regulators: after all they are all in bed together). That Morgan Stanley, Dexia and Citi are, and have been since 2008, dead men walking, is by now known to all financially literate readers: additional confirmation can be found in the Bloomberg article, which we won't paraphrase because it has all been said over and over. That said, Bloomberg has done a great visual interactive chart summary of who got what, when, how much, over peak and average metrics and so forth. We urge readers to play around with it (don't worry, it won't break the banks; and if it does the Fed will secretly bail them out again) and every time they consider putting money into our "solvent" financial system.

detailed breakdown at the link
http://www.bloomberg.com/data-visualiza ... t=&search=



http://www.zerohedge.com/news/visualizi ... racy-looks

Wall Street Aristocracy Got $1.2 Trillion in Loans from Fed

By Bradley Keoun and Phil Kuntz - Aug 21, 2011 4:01 PM MT



A Wall Street sign stands outside the New York Stock Exchange in New York, U.S. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret. Photographer: JB Reed/Bloomberg
Bank ‘Aristocracy’ Borrowed $1.2 Trillion from Fed

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Aug. 21 (Bloomberg) -- Robert E. Litan, a former Justice Department official who in the 1990s served on a commission probing the causes of the savings and loan crisis, now vice president at the Kansas City, Missouri-based Kauffman Foundation, Richard Herring, a finance professor at the University of Pennsylvania, Roger Lister, a former Fed economist who’s now head of financial-institutions coverage at credit-rating firm DBRS Inc., and Kenneth Rogoff, a former chief economist at the International Monetary Fund and now an economics professor at Harvard University, talk about the U.S. government's $1.2 trillion bailout of the banking system and the outlook for regulatory overhaul of the industry. (Source: Bloomberg)
Enlarge image Wall Street Aristocracy Got $1.2T in Loans

Citigroup Inc., along with Morgan Stanley and Citigroup Inc., were the biggest borrowers under seven U.S. Federal Reserve emergency-lending programs. Photographer: Robert Caplin/Bloomberg
Enlarge image The Fed’s Secret Liquidity Lifelines

The Federal Reserve provided as much as $1.2 tillion in public money to banks and other companies from August 2007 through April 2010 to head off a depression. Source: Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

Morgan Stanley, along with Citigroup Inc., and Bank of America Corp., were the biggest borrowers under seven Fed emergency-lending programs. The three banks' combined $298.2 billion in hidden Fed loans was triple what they received in publicly disclosed bailouts from the U.S. Treasury. Photographer: Peter Foley/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

Bank of America Corp., along with Morgan Stanley and Citigroup Inc. was one of the biggest borrowers under the U.S. Federal Reserve's emergency-lending programs. The three banks' combined $298.2 billion in hidden Fed loans was triple what they received in publicly disclosed bailouts from the U.S. Treasury. Photographer: Jeremy Bales/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

The Royal Bank of Scotland took $84.5 billion in loans from the U.S. Federal Reserve's emergency-lending programs. Photographer: Simon Dawson/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

UBS AG, Switzerland's biggest bank, got $77.2 billion in loans from the U.S. Federal Reserve's emergency-lending programs. Photographer: Gianluca Colla/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

Goldman Sachs Group Inc., the fifth-biggest U.S. bank by assets. Photographer: Scott Eells/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

U.S. Federal Reserve borrowings by Societe Generale SA, France's second-biggest bank, peaked at $17.4 billion in May 2008, four months after the Paris-based lender announced a record 4.9 billion-euro ($7.2 billion) loss on unauthorizedstock-index futures bets by former trader Jerome Kerviel. Photographer: Judith White/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

U.S. Federal Reserve borrowings by Societe Generale SA, France's second-biggest bank, peaked at $17.4 billion in May 2008, four months after the Paris-based lender announced a record 4.9 billion-euro ($7.2 billion) loss on unauthorized stock-index futures bets by former trader Jerome Kerviel. Photographer: Antoine Antoniol/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

Two weeks after Lehman Brothers Holdings Inc.'s bankruptcy triggered a global credit crisis, Morgan Stanley countered concerns that it might be next to go by announcing it had 'strong capital and liquidity positions.' Photographer: Jeremy Bales/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

Chief executive officers from eight of the largest U.S. banks receiving government aid testify at a House Financial Services Committee hearing in Washington, D.C on Feb. 11, 2009. Photographer: Brendan Smialowski/Bloomberg
Enlarge image Finance ‘Aristocracy’ Took $1.2 Trillion in Loans

The biggest borrowers under seven Fed emergency-lending programs were Morgan Stanley, Citigroup Inc., and Bank of America Corp.The three banks' combined $298.2 billion in hidden Fed loans was triple what they received in publicly disclosed bailouts from the U.S. Treasury. Photographer: Andrew Harrer/Bloomberg

Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.

By 2008, the housing market’s collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret.

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.

“These are all whopping numbers,â€

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