Federal Reserves new deal

[Gwizz]

We have at least two of our local banks that refused to sign on to the new deal.  (Bank of America and Washington Federal)  The 800 billion borrowed from China, is setting in reserve and not being used.  The bankers were told by the Government that the problem is much deeper than expected.  This is the reason the banks are holding on to the bailout money they received.   

The Deal:

The Federal Government ( a private bank, The Federal Reserve) has now changed how the bailout money will be used.  It, will loan the peoples bailout tax money to a bank + the bank will pay interest + a guarantee fee, so that the bank can loan this money back to the tax payers, but only if the tax payers are a good credit risk.  No ACORN deals will be allowed.

I'm I understanding this correctly: we are to pay taxes to the government's bailout program. The program will loan this money to banks with interest and a fee.  The bank in turn will loan our own money back to us plus charge us interest.  The government wants no risk and we must be a good credit risk.

This is a scam.

The bailout is not going to help the people.  So far the elites are the only ones profiting from the bailout.  Well, China will earn interest on the loans our government received.  The China loans will be paid off with our tax dollars.

It seems we are nothing but patsies for the very rich.  Well! what is new. 

[Gwizz]

I just read that the Federal Reserve Bank, a private bank in charge of all banking and the American money, was created in 1913 and has never allowed themselves to be audited.  No one really knows the full extent of how they print and distribute the tax payer's dollars any more then they want us to know. 

Talk about the freedom to be independent.  How many kings and kingdoms do we have in the US.

[thomasjordan]

I can think of 535 who work in that big building on Capitol Hill, plus a new Emperor who works in the large white house down the street (in about about another two months, although from his made up title of Office of the President Elect, with a very official looking seal, I think he thinks he already works there).

At least CitiGroup is up about $2.50 since I bought it Monday morning, and Ford is also up.  GM is treading water, but 2 out 3 isn't bad.