Where did the Bailout Money Go?

John Stossel on ABC 20/20 (12/19/08)

"While the media focuses on those billions, the Federal Reserve Bank is quietly committing trillions of your tax dollars. What collateral did the fed get for its trillions in loans? They won't say.

Where has the Fed put trillions of your dollars? The Fed won't say.

The answer to the question, "Where is the Money"? is "We don't know!" They say, "It's a secret""

Category:

News & Politics

Tags:

• john-stossel
• bailouts
• economy
• federal-reserve

[usmcvet66]

The American people have been being screwed since Woodrow Wilson signed the Federal Reserve Act of 1913.

CLOSE THE FED and restore Constitutional money. Where did we hear this before???

Oh yeah, that statesman RON PAUL. Wake up America. It is late.

[ruthkendall]

END THE FED! People should wake up to what is happening. Take a stand! DO something!

[MaddDogg81]

fucking governmetn always think they are right and know what's best

[lamourlupus]

John Stossel is decent, but after becoming aware of who he is - I no longer respect his public views. He validates George Carlin's observations.

[Elk9085]

We must get back to letting the Constitution be the document empowering the people as a whole, that includes BIG businesses,  to make good sound business choices without the the comforting knowledge that the Feds will come running to solve our problems like an overprotected mommy.

[Nstar76]

Ya I was real happy to give that nice Honest Bust Family and the Tricky Dick family and all there Friends all that cash. Ya helped me alright Why wasn't that sub somewhere else that pick up that garbage out of the ocean in WW2

[Nstar76]

What did they use for collateral was higher interest rates for Credit Cards and higher bank fees. Not bad used money for bonuses them screw the little guy some more. Do you think any of these companies would have gone belly up if they didn't get the money? Wake up people get rid of CC anyway you can!!!! Use debit cards thru Credit Union if you have too

[ladysassy]

@ladysassy

Till the day that children barrel carts full of money notes, then revolution can begin.

[ladysassy]

People are awake, they know to some degree that the government has failed. Thing is that there is no movement or an opposition, who can smack the government around and put them in their place. Protest march don't do justice to anybody. I believe that people are waiting for a true leader who is willing to go through the grind of pain and humiliation that is going to take to put an end to this mess. Right now as long as the people have enough money and food on the table, no change will occur.

[avdquick]

That Frank needs to go to jail. No Mr Frank, all the investors saw, Ford, Gm, Chrysler, AIG, Merril, BoA, Goldmans, and Citi plus all the other institutions as poor investments. Those banks absorbed way too many medium sized banks creating Monopolistic blocks. As well as both parties chipping away at the Glass-Segal act that separated both fiance and banks. If anything you gave those who gave to the Dem party. A nice fat kickback paid by us.

[jerami101]

Aside from lining a lot of bankers pockets, I think it's pretty clear that our military push in Afganistan and Pakistan is where the majority went! The U.S. is desperate to stay on top!

[jduran9123]

Yeah the Federal Reserve were responsible for the Great Depression and our current financial crisis, dickhead, and I'm sure you're well aware of that. It is, after all, the private banks that bring "money" into circulation by issuing lines of "credit", which is money that does not, has never, and will never exist.

All this manipulation is made possible by allowing private banksters(with the control of stockmarkets, governments, mass media)to control how much credit or "money" is in circulation.