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Unsanitized: Who Gets the Money and Who Doesn't by David Dayen

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David Dayen is one of my favorite writers on the subject of the bailout scam structured by the Fed and the US Treasury in connection with the 2009 crash. His book about that heist is Chain of Title. Now, with the COVID-19 virus, they are at it again. In the 2009 crash they had trouble coming up with a credible story. They tried to tell us that the $26 to $29 trillion they created and gave to the Wall Street banksters was in the form of loans. (Yesterday (3/29/2020) Mark Cuban was on CNN saying that he doesn’t yet know how those “loans” were paid back and doesn’t understand how the present scheme is going to work.)  Even the Levy Economics Institute   paper of 2011 click here could not explain how the $29T debt was paid off as the US government and the Fed claimed was the case.  (Hint...It wasn’t paid off.)

Read the rest of the story HERE:

At prospect.org

 

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I am a retired physicist and hold a B.S. in Ch. E. as well. I have been an environmental activist since the early 1970s. I was a founding member of the Save Barton Creek Association in Austin, TX. In 2006 I was a member of a select (more...)
 

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