Thom Hartmann: Thanks to trickle down - we're headed to another collapse

[thomhartmann]

Run time: 06:27 https://www.youtube.com/watch?v=VLG1XcdyjSU   Posted on YouTube: April 27, 2011 By YouTube Member: TheBigPictureRT Views on YouTube: 2   Posted on DU: April 27, 2011 By DU Member: thomhartmann Views on DU: 2171

 
The Big Picture with Thom Hartmann on RT TV "live" 9pm and 11pm check www.thomhartmann.com/tv for local listings

[chervilant]

1. Just goes to show

that what I've said for the last thirty years is true:

Banks always, always, always, always--have I said always enough?--ALWAYS get their money.

[Marblehead]

2. The next bailout will be the final...

[Justpat]

3. Thanks for posting your tv clips here, Thom

I can't get your show here on Long Island on cable.

[florida08]

4. Correct Thom

The Real Housewives of Wall Street

Christy Mack and Susan Karches did not respond to requests for comments for this story. But even without more information about the loans they got from the Fed, we know that TALF wasn’t the only risk-free money being handed over to Wall Street. During the financial crisis, the Fed routinely made billions of dollars in “emergency” loans to big banks at near-zero interest. Many of the banks then turned around and used the money to buy Treasury bonds at higher interest rates — essentially loaning the money back to the government at an inflated rate. “People talk about how these were loans that were paid back,” says a congressional aide who has studied the transactions. “But when the state is lending money at zero percent and the banks are turning around and lending that money back to the state at three percent, how is that different from just handing rich people money?”


Those kinds of deals were the essence of the bailout — and the vast mountains of near-zero government cash turned companies facing bankruptcy into monstrous profit machines. In 2008 and 2009, while Christy Mack was busy getting her little TALF loans for $220 million, her husband’s bank hauled in $2 trillion in emergency Fed loans. During the same period, Goldman borrowed nearly $800 billion. Shortly afterward, the two banks reported a combined annual profit of $14.5 billion.

Now the fed is going to tell us he needs a 3rd QE because the economy is still in the tank. It's time to release the kraken


http://nocureforthat.org/?p=492

[AnneD]

5. Thank Thom

Your comments are thoughtful and well presented ...nation of peons.....:rofl:

[valerief]

6. I love Thom! nt

[Auggie]

7. K&R

[TatonkaJames]

8. The record is skipping.....

How many times are we going to hear and talk about the same thing, and nothing be done about it ?
I doubt at this stage there's anything that can be done. Any ideas ? too many people too freaked to upset
the apple cart. They have us under their thumb.

[bjobotts]

9. Excellent presentation. Wish Hartmann would not dress like he thinks he's supposed to look for other

His image works so much better for me when he had a beard and a more casual attire. But that aside there is no better teacher in the words of the common man to help us understand our obscene economics.

They outsourced most of the union jobs and now attack the unions left so there is no one left to stand against them (the wealthy banksters etc.) but Tom makes it plain enough that it must be made more costly to make a chair or provide a service outside the country as it would be if the chair or the service were just made or provided within the US...and states were banned from competing tax breaks or regulations to get manufacturers to operate in their state.

I NEVER MISS THE OPPORTUNITY TO LISTEN TO THOM HARTMANN. (where's the bumper sticker?)

[girl gone mad]

10. k & r