From Bloomberg 12-3-11. Try and tell me this isn't scary. We would all be in "occupy wherever" if we could allow ourselves to understand this situation.
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.
The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue.
Saved by the bailout, bankers lobbied against government regulations, a job made easier by the Fed, which never disclosed the details of the rescue to lawmakers even as Congress doled out more money and debated new rules aimed at preventing the next collapse.
A fresh narrative of the financial crisis of 2007 to 2009 emerges from 29,000 pages of Fed documents obtained under the Freedom of Information Act and central bank records of more than 21,000 transactions. While Fed officials say that almost all of the loans were repaid and there have been no losses, details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger.
08/27/2000 - 09/03/2000 09/03/2000 - 09/10/2000 09/10/2000 - 09/17/2000 09/17/2000 - 09/24/2000 09/24/2000 - 10/01/2000 10/01/2000 - 10/08/2000 10/08/2000 - 10/15/2000 10/15/2000 - 10/22/2000 10/22/2000 - 10/29/2000 10/29/2000 - 11/05/2000 11/05/2000 - 11/12/2000 11/12/2000 - 11/19/2000 11/19/2000 - 11/26/2000 11/24/2002 - 12/01/2002 12/01/2002 - 12/08/2002 12/08/2002 - 12/15/2002 12/15/2002 - 12/22/2002 12/22/2002 - 12/29/2002 12/29/2002 - 01/05/2003 01/05/2003 - 01/12/2003 01/12/2003 - 01/19/2003 01/19/2003 - 01/26/2003 01/26/2003 - 02/02/2003 02/02/2003 - 02/09/2003 02/09/2003 - 02/16/2003 02/16/2003 - 02/23/2003 02/23/2003 - 03/02/2003 03/02/2003 - 03/09/2003 03/09/2003 - 03/16/2003 03/16/2003 - 03/23/2003 03/23/2003 - 03/30/2003 03/30/2003 - 04/06/2003 04/06/2003 - 04/13/2003 04/13/2003 - 04/20/2003 04/20/2003 - 04/27/2003 04/27/2003 - 05/04/2003 05/04/2003 - 05/11/2003 05/11/2003 - 05/18/2003 05/18/2003 - 05/25/2003 05/25/2003 - 06/01/2003 06/01/2003 - 06/08/2003 06/08/2003 - 06/15/2003 07/20/2003 - 07/27/2003 08/03/2003 - 08/10/2003 08/10/2003 - 08/17/2003 08/17/2003 - 08/24/2003 08/31/2003 - 09/07/2003 09/07/2003 - 09/14/2003 09/14/2003 - 09/21/2003 09/21/2003 - 09/28/2003 09/28/2003 - 10/05/2003 10/05/2003 - 10/12/2003 10/12/2003 - 10/19/2003 10/19/2003 - 10/26/2003 10/26/2003 - 11/02/2003 11/02/2003 - 11/09/2003 11/09/2003 - 11/16/2003 11/16/2003 - 11/23/2003 11/23/2003 - 11/30/2003 11/30/2003 - 12/07/2003 12/07/2003 - 12/14/2003 12/14/2003 - 12/21/2003 12/21/2003 - 12/28/2003 12/28/2003 - 01/04/2004 01/04/2004 - 01/11/2004 01/11/2004 - 01/18/2004 01/18/2004 - 01/25/2004 01/25/2004 - 02/01/2004 02/01/2004 - 02/08/2004 02/08/2004 - 02/15/2004 02/15/2004 - 02/22/2004 02/22/2004 - 02/29/2004 02/29/2004 - 03/07/2004 03/07/2004 - 03/14/2004 03/14/2004 - 03/21/2004 03/21/2004 - 03/28/2004 03/28/2004 - 04/04/2004 04/04/2004 - 04/11/2004 04/11/2004 - 04/18/2004 04/18/2004 - 04/25/2004 04/25/2004 - 05/02/2004 05/02/2004 - 05/09/2004 05/09/2004 - 05/16/2004 05/16/2004 - 05/23/2004 05/23/2004 - 05/30/2004 05/30/2004 - 06/06/2004 06/06/2004 - 06/13/2004 06/13/2004 - 06/20/2004 06/20/2004 - 06/27/2004 07/04/2004 - 07/11/2004 07/11/2004 - 07/18/2004 07/18/2004 - 07/25/2004 07/25/2004 - 08/01/2004 08/01/2004 - 08/08/2004 08/08/2004 - 08/15/2004 08/15/2004 - 08/22/2004 08/22/2004 - 08/29/2004 08/29/2004 - 09/05/2004 09/05/2004 - 09/12/2004 09/19/2004 - 09/26/2004 09/26/2004 - 10/03/2004 10/03/2004 - 10/10/2004 10/17/2004 - 10/24/2004 10/31/2004 - 11/07/2004 11/07/2004 - 11/14/2004 11/14/2004 - 11/21/2004 11/21/2004 - 11/28/2004 12/05/2004 - 12/12/2004 12/12/2004 - 12/19/2004 12/19/2004 - 12/26/2004 12/26/2004 - 01/02/2005 01/02/2005 - 01/09/2005 01/09/2005 - 01/16/2005 01/16/2005 - 01/23/2005 01/23/2005 - 01/30/2005 01/30/2005 - 02/06/2005 02/06/2005 - 02/13/2005 02/13/2005 - 02/20/2005 02/20/2005 - 02/27/2005 02/27/2005 - 03/06/2005 03/06/2005 - 03/13/2005 03/13/2005 - 03/20/2005 03/27/2005 - 04/03/2005 04/03/2005 - 04/10/2005 04/10/2005 - 04/17/2005 04/17/2005 - 04/24/2005 04/24/2005 - 05/01/2005 05/01/2005 - 05/08/2005 05/08/2005 - 05/15/2005 05/15/2005 - 05/22/2005 05/22/2005 - 05/29/2005 05/29/2005 - 06/05/2005 06/05/2005 - 06/12/2005 06/12/2005 - 06/19/2005 06/19/2005 - 06/26/2005 06/26/2005 - 07/03/2005 07/03/2005 - 07/10/2005 07/10/2005 - 07/17/2005 07/17/2005 - 07/24/2005 07/24/2005 - 07/31/2005 07/31/2005 - 08/07/2005 08/07/2005 - 08/14/2005 08/21/2005 - 08/28/2005 08/28/2005 - 09/04/2005 09/11/2005 - 09/18/2005 09/25/2005 - 10/02/2005 11/13/2005 - 11/20/2005 11/20/2005 - 11/27/2005 12/04/2005 - 12/11/2005 12/11/2005 - 12/18/2005 12/18/2005 - 12/25/2005 12/25/2005 - 01/01/2006 01/01/2006 - 01/08/2006 01/08/2006 - 01/15/2006 01/15/2006 - 01/22/2006 01/22/2006 - 01/29/2006 01/29/2006 - 02/05/2006 02/05/2006 - 02/12/2006 02/19/2006 - 02/26/2006 02/26/2006 - 03/05/2006 03/05/2006 - 03/12/2006 03/12/2006 - 03/19/2006 03/19/2006 - 03/26/2006 04/09/2006 - 04/16/2006 04/16/2006 - 04/23/2006 04/23/2006 - 04/30/2006 04/30/2006 - 05/07/2006 05/07/2006 - 05/14/2006 05/14/2006 - 05/21/2006 05/21/2006 - 05/28/2006 05/28/2006 - 06/04/2006 06/04/2006 - 06/11/2006 06/11/2006 - 06/18/2006 06/18/2006 - 06/25/2006 06/25/2006 - 07/02/2006 07/02/2006 - 07/09/2006 07/09/2006 - 07/16/2006 07/16/2006 - 07/23/2006 07/23/2006 - 07/30/2006 07/30/2006 - 08/06/2006 08/06/2006 - 08/13/2006 08/13/2006 - 08/20/2006 08/20/2006 - 08/27/2006 08/27/2006 - 09/03/2006 09/03/2006 - 09/10/2006 09/10/2006 - 09/17/2006 09/17/2006 - 09/24/2006 09/24/2006 - 10/01/2006 10/01/2006 - 10/08/2006 10/08/2006 - 10/15/2006 10/15/2006 - 10/22/2006 10/22/2006 - 10/29/2006 10/29/2006 - 11/05/2006 11/05/2006 - 11/12/2006 11/12/2006 - 11/19/2006 11/19/2006 - 11/26/2006 11/26/2006 - 12/03/2006 12/03/2006 - 12/10/2006 12/10/2006 - 12/17/2006 12/17/2006 - 12/24/2006 12/24/2006 - 12/31/2006 12/31/2006 - 01/07/2007 01/07/2007 - 01/14/2007 01/14/2007 - 01/21/2007 01/21/2007 - 01/28/2007 01/28/2007 - 02/04/2007 02/04/2007 - 02/11/2007 02/11/2007 - 02/18/2007 02/18/2007 - 02/25/2007 02/25/2007 - 03/04/2007 03/04/2007 - 03/11/2007 03/11/2007 - 03/18/2007 03/18/2007 - 03/25/2007 03/25/2007 - 04/01/2007 04/01/2007 - 04/08/2007 04/15/2007 - 04/22/2007 04/22/2007 - 04/29/2007 04/29/2007 - 05/06/2007 05/06/2007 - 05/13/2007 05/13/2007 - 05/20/2007 05/20/2007 - 05/27/2007 05/27/2007 - 06/03/2007 06/10/2007 - 06/17/2007 06/17/2007 - 06/24/2007 06/24/2007 - 07/01/2007 07/01/2007 - 07/08/2007 07/08/2007 - 07/15/2007 07/15/2007 - 07/22/2007 07/22/2007 - 07/29/2007 07/29/2007 - 08/05/2007 08/12/2007 - 08/19/2007 08/19/2007 - 08/26/2007 08/26/2007 - 09/02/2007 09/02/2007 - 09/09/2007 09/09/2007 - 09/16/2007 09/16/2007 - 09/23/2007 09/23/2007 - 09/30/2007 09/30/2007 - 10/07/2007 10/07/2007 - 10/14/2007 10/14/2007 - 10/21/2007 10/28/2007 - 11/04/2007 11/04/2007 - 11/11/2007 11/11/2007 - 11/18/2007 11/18/2007 - 11/25/2007 11/25/2007 - 12/02/2007 12/02/2007 - 12/09/2007 12/09/2007 - 12/16/2007 12/16/2007 - 12/23/2007 12/23/2007 - 12/30/2007 12/30/2007 - 01/06/2008 01/06/2008 - 01/13/2008 01/13/2008 - 01/20/2008 01/20/2008 - 01/27/2008 01/27/2008 - 02/03/2008 02/03/2008 - 02/10/2008 02/10/2008 - 02/17/2008 02/24/2008 - 03/02/2008 03/02/2008 - 03/09/2008 03/09/2008 - 03/16/2008 03/16/2008 - 03/23/2008 03/30/2008 - 04/06/2008 04/06/2008 - 04/13/2008 04/13/2008 - 04/20/2008 04/20/2008 - 04/27/2008 04/27/2008 - 05/04/2008 05/04/2008 - 05/11/2008 05/11/2008 - 05/18/2008 05/18/2008 - 05/25/2008 05/25/2008 - 06/01/2008 06/01/2008 - 06/08/2008 06/08/2008 - 06/15/2008 06/15/2008 - 06/22/2008 06/22/2008 - 06/29/2008 06/29/2008 - 07/06/2008 07/06/2008 - 07/13/2008 07/13/2008 - 07/20/2008 07/20/2008 - 07/27/2008 07/27/2008 - 08/03/2008 08/03/2008 - 08/10/2008 08/10/2008 - 08/17/2008 08/17/2008 - 08/24/2008 08/24/2008 - 08/31/2008 08/31/2008 - 09/07/2008 09/07/2008 - 09/14/2008 09/14/2008 - 09/21/2008 09/21/2008 - 09/28/2008 09/28/2008 - 10/05/2008 10/05/2008 - 10/12/2008 10/12/2008 - 10/19/2008 10/19/2008 - 10/26/2008 10/26/2008 - 11/02/2008 11/02/2008 - 11/09/2008 11/09/2008 - 11/16/2008 11/16/2008 - 11/23/2008 11/23/2008 - 11/30/2008 11/30/2008 - 12/07/2008 12/07/2008 - 12/14/2008 12/14/2008 - 12/21/2008 12/21/2008 - 12/28/2008 12/28/2008 - 01/04/2009 01/04/2009 - 01/11/2009 01/11/2009 - 01/18/2009 01/18/2009 - 01/25/2009 01/25/2009 - 02/01/2009 02/01/2009 - 02/08/2009 02/08/2009 - 02/15/2009 02/15/2009 - 02/22/2009 02/22/2009 - 03/01/2009 03/01/2009 - 03/08/2009 03/08/2009 - 03/15/2009 03/15/2009 - 03/22/2009 03/22/2009 - 03/29/2009 03/29/2009 - 04/05/2009 04/05/2009 - 04/12/2009 04/12/2009 - 04/19/2009 04/19/2009 - 04/26/2009 04/26/2009 - 05/03/2009 05/03/2009 - 05/10/2009 05/10/2009 - 05/17/2009 05/17/2009 - 05/24/2009 05/24/2009 - 05/31/2009 05/31/2009 - 06/07/2009 06/07/2009 - 06/14/2009 06/21/2009 - 06/28/2009 06/28/2009 - 07/05/2009 07/12/2009 - 07/19/2009 07/19/2009 - 07/26/2009 07/26/2009 - 08/02/2009 08/02/2009 - 08/09/2009 08/16/2009 - 08/23/2009 08/23/2009 - 08/30/2009 09/06/2009 - 09/13/2009 09/13/2009 - 09/20/2009 09/20/2009 - 09/27/2009 09/27/2009 - 10/04/2009 10/04/2009 - 10/11/2009 10/11/2009 - 10/18/2009 11/01/2009 - 11/08/2009 11/08/2009 - 11/15/2009 11/15/2009 - 11/22/2009 11/22/2009 - 11/29/2009 11/29/2009 - 12/06/2009 12/06/2009 - 12/13/2009 12/13/2009 - 12/20/2009 12/20/2009 - 12/27/2009 01/03/2010 - 01/10/2010 01/10/2010 - 01/17/2010 01/17/2010 - 01/24/2010 01/24/2010 - 01/31/2010 01/31/2010 - 02/07/2010 02/07/2010 - 02/14/2010 02/14/2010 - 02/21/2010 02/21/2010 - 02/28/2010 02/28/2010 - 03/07/2010 03/07/2010 - 03/14/2010 03/14/2010 - 03/21/2010 03/21/2010 - 03/28/2010 03/28/2010 - 04/04/2010 04/04/2010 - 04/11/2010 04/11/2010 - 04/18/2010 04/18/2010 - 04/25/2010 04/25/2010 - 05/02/2010 05/02/2010 - 05/09/2010 05/09/2010 - 05/16/2010 05/16/2010 - 05/23/2010 05/23/2010 - 05/30/2010 05/30/2010 - 06/06/2010 06/06/2010 - 06/13/2010 06/13/2010 - 06/20/2010 06/20/2010 - 06/27/2010 06/27/2010 - 07/04/2010 07/04/2010 - 07/11/2010 07/11/2010 - 07/18/2010 07/18/2010 - 07/25/2010 07/25/2010 - 08/01/2010 08/01/2010 - 08/08/2010 08/08/2010 - 08/15/2010 08/15/2010 - 08/22/2010 08/22/2010 - 08/29/2010 08/29/2010 - 09/05/2010 09/05/2010 - 09/12/2010 09/12/2010 - 09/19/2010 09/19/2010 - 09/26/2010 09/26/2010 - 10/03/2010 10/03/2010 - 10/10/2010 10/10/2010 - 10/17/2010 10/17/2010 - 10/24/2010 10/24/2010 - 10/31/2010 10/31/2010 - 11/07/2010 11/07/2010 - 11/14/2010 11/14/2010 - 11/21/2010 11/28/2010 - 12/05/2010 12/05/2010 - 12/12/2010 12/12/2010 - 12/19/2010 12/19/2010 - 12/26/2010 12/26/2010 - 01/02/2011 01/02/2011 - 01/09/2011 01/09/2011 - 01/16/2011 01/16/2011 - 01/23/2011 01/23/2011 - 01/30/2011 01/30/2011 - 02/06/2011 02/13/2011 - 02/20/2011 02/20/2011 - 02/27/2011 02/27/2011 - 03/06/2011 03/06/2011 - 03/13/2011 03/13/2011 - 03/20/2011 03/20/2011 - 03/27/2011 03/27/2011 - 04/03/2011 04/03/2011 - 04/10/2011 04/10/2011 - 04/17/2011 04/17/2011 - 04/24/2011 04/24/2011 - 05/01/2011 05/08/2011 - 05/15/2011 05/22/2011 - 05/29/2011 05/29/2011 - 06/05/2011 06/12/2011 - 06/19/2011 06/19/2011 - 06/26/2011 07/03/2011 - 07/10/2011 07/17/2011 - 07/24/2011 07/24/2011 - 07/31/2011 07/31/2011 - 08/07/2011 08/07/2011 - 08/14/2011 08/14/2011 - 08/21/2011 08/21/2011 - 08/28/2011 08/28/2011 - 09/04/2011 09/04/2011 - 09/11/2011 09/11/2011 - 09/18/2011 09/25/2011 - 10/02/2011 10/02/2011 - 10/09/2011 10/09/2011 - 10/16/2011 10/16/2011 - 10/23/2011 10/23/2011 - 10/30/2011 10/30/2011 - 11/06/2011 11/06/2011 - 11/13/2011 11/13/2011 - 11/20/2011 11/20/2011 - 11/27/2011 11/27/2011 - 12/04/2011 12/04/2011 - 12/11/2011 12/18/2011 - 12/25/2011 01/01/2012 - 01/08/2012 01/15/2012 - 01/22/2012 01/22/2012 - 01/29/2012 01/29/2012 - 02/05/2012 02/05/2012 - 02/12/2012 02/12/2012 - 02/19/2012 02/19/2012 - 02/26/2012