This is utterly infuriating. Here today the Federal Reserve "injected"
another 30-something billion dollars in to the markets to prop them up. That makes a
total of $200 billion since August 9, 2007. If you read the stories like the one linked
below, it attempts to comfort us by saying that the funds used by the Fed are not really
tax dollars - directly. It does go on to say that what they are doing is buying up the
junk sub-prime mortgage bonds that nobody in his right mind would even consider buying.
This is money lost forever, so the "reserve" part of the Federal Reserve is that much
What this represents is literally the federal government pouring
money into the pockets of bankers and traders as a reward for being willing to implement
the crappy policies it has set up. No matter what it says on paper, you and I are paying
for these bailouts. Our tax money IS being used to keep the fat cats in world banking
and financial trading in the black. It's an old boy system for sure, dreamed up and
promoted by snakes from both sides of the political aisle. But hey, it's been going
on for decades - anyone remember the S&L bailouts of the 1980s?
- Kirt Blattenberger
RF Cafe Progenitor & Webmaster