nigsvon says
“This is what the future will look like. Bombed-out suburbia converted to public housing with the government as the communist landlord for the rental serfs because the mega-wealthy don’t want it, they keep only the good assets for themselves. People need to see through the corporate/government veil to understand how they are being manipulated.”…(read more)
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Where did the Billions in Bank Bailouts Go? Sand, Dirt, Fines & Ghost towns
The 2008 financial crisis, also known as the Great Recession, was a devastating event that had far-reaching consequences worldwide. As economies crumbled and unemployment soared, governments around the globe were forced to step in to prevent a complete collapse of the banking system. Billions of dollars were injected into troubled banks as part of unprecedented bailout packages. However, a nagging question lingers: “Where did all that money go?”
One might expect that the funds would be used to stabilize the banks, help struggling homeowners, or reignite economic growth. Unfortunately, the reality is far from such noble objectives.
One of the most notorious examples of mismanagement was the case of Anglo Irish Bank in Ireland. The bank received an astonishing €30 billion of taxpayer money, a sum that equated to nearly 20% of the country’s GDP. However, rather than using this aid to stabilize its operations, the bank took a sharp turn towards reckless expenditures. Reports emerged of executives splurging on extravagant trips, luxury hotels, and luxurious office renovations. By the time the financial institution collapsed, it was clear that the bailout funds had been squandered and little had been done to rectify the deep-rooted issues that brought about the crisis.
Across the Atlantic, in the United States, a similar pattern emerged. The Troubled Asset Relief Program (TARP) bailout, amounting to $700 billion, aimed to shore up financial institutions, offer foreclosure relief, and stimulate lending. Yet, despite the massive injection of capital, many ordinary Americans saw little benefit. Homeowners still struggled to keep their homes, while small businesses and consumers faced tightened credit as banks grew reluctant to lend.
Moreover, revelations about bank practices painted a grim picture of where the money truly went. Several banks were found guilty of using the bailout funds for speculative investments, executive bonuses, and extravagant corporate events. These actions were met with public outrage as people realized that their hard-earned tax dollars were being funneled into the pockets of those who had caused the crisis in the first place.
While some argue that the bailouts prevented a complete collapse of the financial system, it is clear that the funds were not utilized in the best interest of the public. Instead, they often allowed banks to continue engaging in risky behavior, even as they neglected their essential purpose of supporting the economy.
Beyond the misappropriation of funds, fines and penalties against banks have also come under scrutiny. Many institutions that received bailouts were subsequently found guilty of various misconduct, ranging from mortgage fraud to money laundering. While they were required to pay hefty fines, these punishments were often seen as mere slaps on the wrist. The banks’ balance sheets absorbed the fines, while executives responsible for the wrongdoing walked away with their pockets full.
Additionally, in the aftermath of the crisis, some areas were left scarred with the downturn creating ghost towns. Foreclosed homes stood empty, unable to be sold, as the economies of these areas crumbled. The impact was felt not only by those who lost their homes but also by local businesses that suffered as a result. The bailout funds, instead of revitalizing these communities, seemed to evaporate into thin air, leaving behind a bleak landscape.
The question of where the billions in bank bailouts went continues to haunt the minds of many. The financial crisis was a tragic event that exposed the dark underbelly of the banking industry and the lack of responsibility shown by those at its helm. It serves as a stark reminder of the importance of overseeing the use of public funds and ensuring that they are directed towards revitalizing economies and supporting those who need it most. If lessons are not learned from the mistakes of the past, history may repeat itself with devastating consequences once more.
go live in china you whiny little bitch!!!!!!!!!!!
well even before the banks started to own that stuff, they already owned usa and other countries for years. DEBT means someone OWNS YOUR STUFF but lets you believe it's yours as long as you assure you will pay him/her back. china owns the usa for example for they are their biggest debtee and they have debts for themselves. where does it all end? who is the master creditor? is he/she to blame? or are the countries who took the credit to blame for their stupidness?
These days the people that don't wanna work gets it all !!!!!
He's right.
During an RE bust in Colorado a few years back, the Housing Authority would buy up abandoned condos. They would take your money, renovate and move in Section 8 people.
I was the contractor doing the renovation,
Scumbags would move in and 6 months later I would be renovating the same unit that I had fixed.
They would move in from other local crime ridden cities. Just imagine what they did to home values in what used to be stable neighborhoods
He is right on this. This has occurred before, where an economic crisis has been capitalized on by the bankers. In that instance, it was a manufactured economic crisis for the purpose of banker profiteering. Similarly today, a mass transference of wealth, in the form of both money and real property is being taken from ordinary Americans in the form of foreclosures and tax debt, and being given to the bankers. And we just look at it with dumb cow eyes and take the coming slaughter.
So, they want to direct the world into a dumb poor slave population and a rich one, serving them out of fear.
*The ones owning and controlling everything. It´s not about money anymore, only about power, and money is a way to execute power.
It´s all about power. The wealth transfer (symbolized by money) from the middle class to the rich, was a plan well executed by the trillionars*. Even the number if the billionars was cut in halth over the last few years.
The middle class is the one thing the rulers are most afraid of. Because with wealth, comes the power to put the imaginations into everyday use for everyone, except the riches that loose control, with inventions coming from good from within the middle class.
WATCH SPAGHETTIOS ON STICK N STONES TV
UR WELCOME JERKASS!
It's all sand there. Get the out to somewhere with grass and normal trees buddy.
Keep up the great reporting George.
It's a shame are largest media corporations are still lying to the citizens about what's coming down the pipe … and it's alot worse than anything in a septic tank.
Banks and governments trying to own all the overbuilt housing tracks we have won't work.
People need good jobs and money to live in all these houses … it just won't happen.
Two words … 3rd World.
Welcome to the new Republic.
I've been stock piling ammo, food and water…. What else can we do?
the middle class is destroying america!
Federal Reserve is a Private Bank that loans the US it's federal reserve debt notes. Bailout happened because of CDO's Commoditized Debt Obligations. Mortgages were sold off as AAA securities, when they were NOT. Foreign investors were calling for their face value, which would have wiped out ALL the banks here in the US. Once the mortgages are sold to a company called MERS, the banks no longer have standing in court to foreclose…look it up…great info…possibly 60 million mortgages FRAUD..
looks like they owe us taxpayers houses to live in we the people paid for it-them
robbed robbed robbed
The end game is the Re-wilding of America and the concentration of the people in sprawling cities.
I've always tried to take Alex Jones with a pinch of Salt but this looks suspiciously like "Agenda 21" in action.
You mean food stamps?
34.4 million people are getting those already.
Stagflation ahaed……
If you DON'T think that the US will collapse further, then you need a dose of reality. We have to fall a LOT farther before we see a bottom. When there is 30-50% unemployment and thousands of people are standing in daily government funded bread lines, then we might be close to the bottom.
boy george i wish i could e-mail u.money give away here in detroit,u gotta see this crazy.fights,5ooo applications for assistance,many more thousands show around the city,lined up last night.stimulus money to help(pay)detroit residence only i think.
Translation:
"Don't read! You might learn something, God forbid!"
I wonder if they can pull a Fahrenheit 451 on YouTube…
George is back!
WRONG. Citi is still 60% plus owned (in stock) by the US Govt. . The Fed has not returned those repaid funds to the US Treasury / General Fund.. and to top it off.. the $467mm is a drop in the bucket compared to the $12 Trillion that was backstopped with guaratnees and bailouts. There is only one 'person' on this board with there head in brown sand.
YOU AGAIN SAVED THE BEST TO LAST
Where is that location located at? It is Palms Springs or La Quinta?