US Taxpayers Bailing Out Foreign Banks – The Fleecing of the United States Taxpayer

US Taxpayers Bailing Out Foreign Banks – The Fleecing of the United States Taxpayer

It is no secret that we are in the midst of an financial meltdown that can only be in contrast to a single or two related cycles of economic turmoil, however in individuals former economic downturns the Government did not commit Trillions of U.S. taxpayer money to bail out overseas banking institutions and domestic businesses. The Federal government is printing Trillions of bucks in an attempt to resolve the existing economic disaster, which in the lengthy operate will guide to the devaluation of the greenback in opposition to planet currencies making the condition even worse.

In the fashionable period the US greenback is not backed by the gold common as it was for the first two hundred yrs of this nations existence. In modern marketplace, the dollar is just a piece of paper and the price of it is made the decision by traders working day following day. What will make our present circumstance so frightening is that our latest Government is printing and investing Trillions of pounds to bail out overseas banks and monetary establishments.

The corporation American International Team (AIG) is a perfect instance to illustrate why the United States is heading down a really slippery slope in bailing out international banking companies. If you didn’t currently know, the United States Government has presented AIG $173 billion pounds in bailout money. AIG claimed the greatest quarterly loss in United States history past quarter at $61 billion. They were just provided an additional $30 billion by the United States Government past week. The most horrifying thing is that no one particular is familiar with where all the $173 Billion ended up. Not too long ago, the Wall Street Journal compiled a checklist of different banking companies, foreign and domestic who have gained at minimum $50 billion of the $173 billion specified to AIG by the United States Government. It is unconscionable that in present-day financial climate with foreclosures at a report amount that the United States Govt would hand out these types of substantial amounts with out exact accounting to see that every penny is staying appropriately utilized.

The Downfall of AIG: AIG was greatly exposed to poisonous belongings, seen as the root cause of the credit history crisis by way of its London-based monetary products device, which assured hundreds of billions of pounds truly worth of credit history devices. “They wrote a good deal of insurance policies include on default swaps for economic institutions all about the entire world,” a single sector resource advised Reuters on Friday. So in essence, the United States Authorities is bailing out international banking institutions who contracted with AIG to insure the poisonous belongings on their textbooks. In plain meaning you and I are paying for their faults.

Back again when the times had been good and these Excess fat CAT BANKERS have been shelling out on their own multi-million dollar bonuses all the things was rosy. Now that their ponzi plan has occur tumbling down, the United States Taxpayers are still left holding the bag by bailing out these international banks.

At the very least two dozen American and European financial institutions benefited from the bailout of AIG, with roughly $50 billion paid out to them because the Federal Reserve to start with gave aid to the insurance policies giant, the Wall Avenue Journal described Saturday.

Right here is a record of the banking institutions, domestic and foreign who have received substantial sums of cash from United States Taxpayers to bail out foreign banking companies through AIG:

Goldman Sachs- Obtained $6 Billion
Deutsche Financial institution- Gained $6 Billion
Société Générale – Received $4.8 Billion
Calyon – Received $1.8 Billion
Barclays – Undisclosed
Rabobank -Undisclosed
Danske – Undisclosed
HSBC – Undisclosed
Royal Bank of Scotland- Undisclosed
Banco Santander -Undisclosed
Morgan Stanley-Undisclosed
Lender of America- Undisclosed
Lloyds Banking Team- Undisclosed

I come across it appealing that Goldman Sachs was one particular of the most important beneficiaries of the cash specified to AIG by US taxpayers to bail out overseas banking institutions. Our latest treasury secretary Henry Paulson the former CEO of Goldman Sachs, has a web worth of more than $700 million bucks and without a doubt continue to has millions of shares of Goldman Sachs inventory. Did he oversee a individual bailout for himself at the expense of the United States taxpayer cash that was meant to be applied to bail out foreign banks? The relaxation of the international banks will not disclose the amount gained from AIG that arrived from US taxpayers, but with political tension mounting that door will blow open any day and we will all get a glimpse of how the Body fat CAT BANKERS have taken the world hostage when the “secrecy” is shattered.

For the most aspect the banking institutions outlined in this post have place the world’s economy in its latest main meltdown mode. They did it knowingly by issuing guidelines for financial loans that had been risky, toxic, and in most situations they understood would go bad. They anticipated actual estate costs to hold escalating so the borrower could just continue to keep refinancing out of these toxic financial loans into other loans which would preserve lining their Extra fat CAT BANKER pockets.

If you are in a difficult circumstance with your present-day bank loan, or you have a bank loan that you experience was misleading there is hope. There are Federal and Point out Statutes on the books to safeguard American Consumers from Misleading Lending Tactics. The penalties for violating these legislation are extremely extreme and can result in your mortgage payment becoming reduced by hundreds of pounds for every month, you can get the principal amount of money of your bank loan reduced by hundreds of hundreds of bucks, and if the violations are critical adequate you can even be awarded financial damages for violations of these Federal and State Statutes.

If the United States Authorities is likely to choose taxpayer dollars and bail out international banking institutions and the relaxation of the planet, I strongly believe that that if you were taken benefit by a Broker, Financial institution, or Financial institution you need to examine all your options. You will be stunned at what options are readily available at your disposal. The players in the mortgage loan game in the United States committed so much fraud and violated so many Federal and Condition Guidelines and Laws, there is a incredibly superior probability that you can qualify for substantial aid and get anything in return for your wasted taxpayer revenue that is remaining sent abroad to bailout overseas banking companies and institutions.