There are times when I'd like to share something with you but my Voice in the Garden site does not seem the appropriate place, thus, this blog.

There are experiences, thoughts, views... and for anyone lurking/waiting to pounce (as has occurred on several occasions), please do not attempt to turn what I post into a political statement. This is NOT a political site, but IS about occurrences, reality, and personal opinion concerning what I see in the world around me and my family. There are many excellent writers whose works "speak" to me, and I shall include some of them. At times it may be
something I think you would enjoy or simply whatever ails you (me).

Monday, August 22, 2011

Wall Street Aristocracy Got $1.2T in Loans

Bloomberg reports (click here to see the full graph) that $1.2 Trillion of public money went to banks and other companies. Bloomberg news sorted through more than 29,000 pages of previously secret documents to bring us this compilation. The information was obtained through the Freedom of Information Act requests, followed by months of litigation, and eventually, an act of Congress. (Wall Street Aristocracy Got $1.2T in Loans)

According to Barry Ritholtz, The Big Picture, the Wall Street Bailouts were misguided... losses would have fallen where they belonged — on the Shareholders and Bond Holders — and not the taxpayers.... we bailed out the bondholders and management, choking off hope for a robust recovery. We are in fact slowly turning Japanese, awaiting the next recession... ".

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