The loans are not being made to commercial banks (which could re-loan the money to stimulate the U.S. economy). The loans are going to the New York Fed’s primary dealers, which are stock and bond trading houses on Wall Street who count hedge funds among their largest borrowers; (See list below. There is only one bank among the 24 primary dealers.)
Source – wallstreetonparade.com
– “…What the New York Fed is doing is unprecedented in U.S. history…Just this morning the New York Fed pumped out $134.15 billion to Wall Street…The $45 billion in 14-day loans was oversubscribed by $17.15 billion, meaning the demand for liquidity on Wall Street is growing, not subsiding. Congress and mainstream media failed to do their job in the leadup to the epic Wall Street crisis of 2008 and they are failing the American people again”
Fed Ups Its Wall Street Bailout to $690 Billion a Week as Media Snoozes – By Pam & Russ Martens
Yesterday the Federal Reserve Bank of New York (New York Fed) announced that the giant money spigot it turned on for Wall Street on September 17 would be growing exponentially beginning today.
(Also Read: After Trillion In Bailouts The 6 Biggest Banks On Wall Street Are Still Committing Crimes That Could Destroy…
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