Listen, I’m not a big fan of this sub, but I think your heart is in the right place and have no where else to post this.
I feel like I am being gaslighted and the public is being gaslighted about the new loans to the banking industry not being a bailout.
So please take this to heart from a capitalist loving right voting American.
The banks just got away with another massive 2008 bailout.
Here is what is happening:
The Fed just made a department that will give the banking industry loans against their negative collateral.
Let me repeat this for importance.
This new facility allows them to borrow against their negative collateral. This accounts for 200 BILLION DOLLARS in just the top four banks.
They can borrow at PAR, instead of the losses they should rightfully take(like everyone else will).
This comes with No Regulations.
This comes with No New Rules.
This comes with no increased Government Ownership that we can influence.
This comes with no new Fees.
This. Is. A. Bailout.
They can use this money to perform Stock Buy Backs.
They can use this money to give themselves Bonuses.
They can use this money to pay out Dividends.
This. Is. A. Bailout.
Sorry for invading your sub. But I feel like I am taking crazy pills. I have already been through one bank bailout and I’m now going through the another and no one is talking about it.