2nd December 2010
yves comments: "A programme established by the central bank to help those that deal in US treasuries" No wonder why we have problem in the eurozone."
"The Federal Reserve made $9 trillion in overnight loans to major banks and Wall Street firms during the financial crisis, according to newly revealed data released Wednesday."
Vince Wolf thinks: "And soon, when foreclosures skyrocket, congress will just grant another 5 to 10 trillion in bailouts to banks and then will be even deeper in debt. Time to put the money in the hands of those who need it–the homeowners."
"The Federal Reserve, forced by Congress to release details on trillions of dollars' worth of loans made during the financial crisis, disclosed the breadth of its lending to U.S. businesses desperate to raise cash and the surprising degree to which it supported struggling foreign banks in the worst days of 2008 and 2009."
sean blankert says: "Hmm… so good to see our tax dollars going to foreign banks. So essentially my children are going to be working to pay off money foreign banks are using to MAKE money… brilliant. We soooo need to get rid of our current government and corporate structure…"
"The Fed's "WikiLeaks" moment"
"The Spanish government is looking at auctioning stakes in its national lottery operator and airports, while Ireland will look at privatisations in its electricity and gas sectors as part of a joint European Union and IMF bail-out package agreed on Sunday."
The Telegraph readers are comparing this to what happened in the UK during the Thatcher period, but have opposing view on how well it worked:
Nexusfast123 says: "So the next phase of theft – acquire public assets and the 'commons' for next to nothing and then recharge us over the odds for the service that we have already invested public money into provide. In the UK this has already happened due to the 'enlightened' policies of Thatcher. This will be followed by the liquidation of pension funds."
And Captain Mainwaring thinks: "I wish them all luck, Britain went through this back in the '80/'90 under Mrs T and it was the right thing to do. Assets that were under-performing (or not performing ) and state owned tend to be become rather profitable through efficiencies when they are in private hands. Another shining example of Britain as innovators and showing the way for others!"
Joe Soap comments: "I am very encouraged by the outflows from UK Equity Income funds. That is where I am putting my money at the moment. This is a classic contrarian action I believe it will pay on a 3 to 5 year view."
Snotcricket says: "THe Euro is recieving much criticism. Would it be more popular if it were to be used only in in one arm bandits? Silly me I forgot the EU Commission is the two armed version, as they coin it in with both hands."
Christy says: "All the money in the world won't stop a loss making communist regime from going under it is only a matter of time."