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Excel Breakdown Of All Discount Window Users Between March 2008 - 2009

Tyler Durden's picture


Tired of poring through thousands of PDF files from the Fed's Bloomberg FOIA release? Curious why Ron Paul said that he "was surprised and deeply disturbed ... to learn the
staggering amount of money that went to foreign banks" and is planning to hold a hearing
over emergency loans to the branches of non-U.S.
banks? Then here is the excel file for you: the following publicly shared google docs spreadsheet contains the complete Discount Window loan origination data from March 14, 2008 through March 16, 2009. We offer it so that anyone who wishes to perform their own analysis on the primary data can do so (and needless to say banks noted as FORI in the markstat entity type are foreign borrowers). 

Discount Window spreadsheet link

Since the flood of requests appears to have taken down Google Docs, here is a direct download link to the spreadsheet in Ods format.

And a link for the same file in Xls format

h/t Doug


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Sat, 04/02/2011 - 16:58 | 1128445 vast-dom
vast-dom's picture

nice one Tyler.

i could host a PDF as zip/rar file if you'd like. Better to dl it methinks. 


Sat, 04/02/2011 - 17:03 | 1128460 covert
Sun, 04/03/2011 - 16:31 | 1130317 In Fed We Trust
In Fed We Trust's picture

I noticed right off the bat, JP Morgan seems to be at the window every other day for average of 25 billion. I think the discount window is for overnight loans, but come on, if your in line every other day for the same amount, that's more like a revolving line of credit. 

What would be interesting to see, is how the forgien banks used the money they received from the fed. I know they dont publish "positions" of each bank at the end of the quarter, but I would be very curious to know that they were all betting the same direction and the same markets. As if the money leant by the fed, had strings attached, inline with the feds agenda, like letting Lehman fail.

Sat, 04/02/2011 - 18:08 | 1128580 Ying-Yang
Ying-Yang's picture

Thanks Tyler....

A link to the FED's primer on their discount window scam, ahh sorry, their Payment Risk System.

Wanted to brush up on the regulations before digesting where discount window loans for $15,760,004,161,955 are backed by "performing or investment grade assets" (really?) in exchange for digital dinero.

This is just from March 08 to March 09. 

Tyler... since the FED is private, do we know if these loans were repaid by their maturity dates or something else?

Sat, 04/02/2011 - 20:31 | 1128849 carbonmutant
carbonmutant's picture

These little nuggets are what make ZH such a treasure.

Sat, 04/02/2011 - 22:21 | 1129053 sheeple
Sun, 04/03/2011 - 11:48 | 1129746 rocker
rocker's picture

Thanks ZH & Tyler.  The other day you put one out that I used the PDF version which also worked well.

This time I used the attachment in the window. Looks much nicer now. Either way, we now know that we most likely paid the banksters for a lot of crap that is worthless. "I will not monetize" the Benanke. LOL 

Sun, 04/03/2011 - 13:43 | 1129939 redpill
redpill's picture

The amounts by Origination Month:

Mar-08 $314,603,859,472
Apr-08 $594,483,596,500
May-08 $321,617,819,000
Jun-08 $176,898,428,000
Jul-08 $52,451,029,612
Aug-08 $45,343,165,850
Sep-08 $1,574,142,741,955
Oct-08 $3,772,730,119,087
Nov-08 $2,286,486,699,431
Dec-08 $2,549,226,873,128
Jan-09 $1,844,943,188,050
Feb-09 $1,418,439,291,157
Mar-09 $808,637,350,713

Sat, 04/02/2011 - 21:43 | 1128970 macholatte
macholatte's picture

Pardon my ignoramous, please.

This enquiring mind wants to know why the FED did this. Seriously. Is it because it's the bank for the reserve currency or some other reason?

If China became the reserve currency bank, would it be expected to bail out deadbeats like, say, the USA?


I don't oppose all wars. What I am opposed to is a dumb war. What I am opposed to is a rash war.
Barack Obama
/  /   /
Sat, 04/02/2011 - 23:54 | 1129164 Widowmaker
Widowmaker's picture

Two words:

Record fucking-bonuses.

Sun, 04/03/2011 - 13:38 | 1129931 rocker
rocker's picture

We the People Paid for All those bonuses. Including the 100 million Lloyd Blankfein, (Blackass), got.

When will we put them in Jail?  They cried and lied to garnish themselves. Saving a cartel is not saving the economy. 


Sun, 04/03/2011 - 07:43 | 1129510 blindfaith
blindfaith's picture

Thank you Tyler for, again, being the man infornt.

MY BIG QUESTION is...great, now we see (in hind sight) what this criminal group did until March 2009.

I WANT TO KNOW what they have done since then and are doing now.

THIS CONGRESS MUST DISOLVE THE excuses anymore to allow a de-facto private enterprise to run and ruin this Nation.

Sun, 04/03/2011 - 08:32 | 1129552 blindfaith
blindfaith's picture

From Reuters:

"Data the Fed was required by courts to disclose on Thursday showed the U.S. branches of foreign-headquartered financial firms had made extensive use of the central bank's emergency lending discount window during the severe financial crisis that froze financial markets in the fall of 2008."

NOTICE that is says "firms" meaning shells.  HOW did THIS help Americans???????

I think the Fed and it members are traitors to America and more dangerous than ANY terrorist group real or imaginary .

Sun, 04/03/2011 - 11:43 | 1129680 G-R-U-N-T
G-R-U-N-T's picture

Thanks Tyler.

Quick question: How much has been payed back and at what interest rate?


Sat, 04/02/2011 - 16:57 | 1128451 DoChenRollingBearing
DoChenRollingBearing's picture

The link did not work for me.

I'll try again.

Sat, 04/02/2011 - 17:00 | 1128459 DoChenRollingBearing
DoChenRollingBearing's picture

Link still did not work for me.

Sat, 04/02/2011 - 18:47 | 1128685 Sabibaby
Sabibaby's picture

Got it! Open Office Document. Save and spread. Lets make sure this goes viral!

Sun, 04/03/2011 - 00:05 | 1129178 DoChenRollingBearing
DoChenRollingBearing's picture

OK, I finally got it!

It's a real eyeopener and I just sent off to 18 friends.

I wonder where all that money has gone.........

Sat, 04/02/2011 - 18:15 | 1128610 sabra1
sabra1's picture

wasn't there a Link on the Mod Squad?

Sat, 04/02/2011 - 18:52 | 1128690 knukles
knukles's picture

He didn't work either.

Sat, 04/02/2011 - 23:55 | 1129167 Buckaroo Banzai
Buckaroo Banzai's picture

Pete, Link, and Julie, IIRC

Sat, 04/02/2011 - 17:05 | 1128469 Captain Benny
Captain Benny's picture

Awesome compilation document!  Thanks for posting.

Sat, 04/02/2011 - 17:12 | 1128470 doggings
doggings's picture

hmm, doesnt look too good

Google Docs

We're sorry.
The spreadsheet at this URL could not be found. Make sure that you have the right URL and that the owner of the spreadsheet hasn't deleted it.

edit ok the second ones fine, amazing ZH can stand up to the load and Google can't, awesome job with the site Tyler.

Sat, 04/02/2011 - 17:13 | 1128485 EagleProjets
EagleProjets's picture

I done a little calculation and 34.8% goes ouside U.S border. :)

Sat, 04/02/2011 - 17:51 | 1128552 PragmaticIdealist
PragmaticIdealist's picture

34.8% of the total value to 467 foreign banks (under 3% of all banks)

Sat, 04/02/2011 - 17:52 | 1128553 PragmaticIdealist
PragmaticIdealist's picture

34.8% of the total value to 467 foreign banks (under 3% of all banks)

Sat, 04/02/2011 - 18:01 | 1128576 cswjr
cswjr's picture

Looks like $2.76 trillion to Dexia -- a banking consortium.  Another $2.56T to Depfa -- a German-Irish bank out of Dublin.  Next highest is Bank of Scotland at $42.8 billion.

That's total borrowing, occurring over many transactions in the first two instances.  Still, that's insane.  Depfa I understand the funding needs.  I wonder what Dexia's deal was.


Sat, 04/02/2011 - 18:14 | 1128605 Ying-Yang
Ying-Yang's picture

Good catch cswjr,

The Irish and Scottish banks caught my eye too. We know Ireland is a tax haven for offshore profits is it a stretch that the FED had to keep global corporations' investments in Ireland whole?

Sat, 04/02/2011 - 18:38 | 1128656 Amish Hacker
Amish Hacker's picture

I think the answer is yes, if by "investments" you mean derivative contracts to which Irish and Scottish banks were shaky counterparties.

Sat, 04/02/2011 - 21:03 | 1128918 Caviar Emptor
Caviar Emptor's picture

Dexia was threatened when germany's Hypo Real Estate was taken under by the government. That set off a chain of dominos across Europe, especially in Ireland, Iceland and Belgium. 

The scale of the discount window borrowings was dwarfed by the Fed's emergency programs which supplemented the discount window. 

Taken together this was nothing short of a Marshall Plan scale bailout. Conducted outside the system of checks and balances of the US government. But instead of going toward reconstructing a country it all went to patching up failed banks without reforms and without allowing new entrants, ideas and competition to reinvigorate the system. 

These unsurprising revelations only underscore that there really is an international cartel of bankers who bonus themselves just by buying up each other's worthless paper

Sun, 04/03/2011 - 08:58 | 1129564 blindfaith
blindfaith's picture



The Federal Reserve, all its members and associates are....traitors

Criminal charges must be brought to bear or this government is an accomplice. 

 Knowingly or unknowingly, the FED declared a war against the American people, and the safety and security of the solvency of America for the benefit of FOREIGN interests. 

This is an enemy more dangerous than any our citizens have ever faced in any war at any time.

They betrayed us like spys, sold us like slaves, lied to us, and intend to bankrupt the USA, and criple its citizens...just what an real enemy would do.

We put bank robbers in jail, don't we?  These criminals in banks and wall street are robbers, no less. 

Justice must be done.  I call on you Mr President, the watchdog of the nations interests, to do what we the people expect and demand you to do...protect this nation from enemys.

Sun, 04/03/2011 - 09:33 | 1129598 aheady
aheady's picture

LOL that's funny

Sun, 04/03/2011 - 14:03 | 1129980 rocker
rocker's picture

The Morgue's Jamie Diamon wants to let you know how he feels about this. Last week he said we seem to do this every 5 to 7 years.  Anybody counting.  Prediction: He will be a future FED Chairman. That's the reward a crook gets. I could not agree more. When will we put them in jail? 

Sat, 04/02/2011 - 17:16 | 1128491 Encroaching Darkness
Encroaching Darkness's picture

Wow, it bogged down immediately. Thanks for the second link, get to it shortly.

Appreciate good info currently delivered; fabulous job, Tyler!

I can see the darkness so much more clearly now....

Sat, 04/02/2011 - 17:19 | 1128493 matthylland
Sat, 04/02/2011 - 17:20 | 1128496 blazen
blazen's picture

excellent job

BTW did you notice (while reading the spreadsheet) message popping up EVERY half a second or less (at the time I'm writing this) "SHARING anonymous user XXXXXX opened this spreadsheet", XXXXXX being random anon-user id assigned by google ? America must be educating itself pretty intensively. I would pin that post to ensure even more education for a few next days

Sun, 04/03/2011 - 09:19 | 1129585 blindfaith
blindfaith's picture

No it is not a random ID.  Everyplace you go on the net leaves a cookie, some permanent some not, or your individual Intel chip number has been logged from your computer thru your ISP.  There is no such thing as anominous...look at the ADs right here on ZH...ever wonder why ads for some business near you is popping up?????

Sat, 04/02/2011 - 17:28 | 1128504 SolidSnake961
SolidSnake961's picture

trillions of dollars and noone in the msm even mentions this???

Sat, 04/02/2011 - 20:51 | 1128895 Caviar Emptor
Caviar Emptor's picture

The Matrix is everywhere

Sat, 04/02/2011 - 17:32 | 1128511 Dolar in a vortex
Dolar in a vortex's picture

Wow, thanks to who ever did the work.

Sat, 04/02/2011 - 17:45 | 1128537 ss123
ss123's picture

Haven't been able to get past the first page of the spreadsheet yet, but I already see a lot of JPM and Bank of NY.

Let me guess, JPM used the money for Bear Stearns and Lehman mostly... according to them.

Sat, 04/02/2011 - 17:48 | 1128538 Tyler Durden
Tyler Durden's picture

A lot of the JPM and BoNY borrowings are for Tri-party repo, to subsequently lend out money to PDCF facility borrowers (named in Borrower 2 column). JPM and BoNY are the only two tri party clearers.

Sat, 04/02/2011 - 17:49 | 1128548 ss123
ss123's picture

Thanks for the info.

Sun, 04/03/2011 - 07:21 | 1129500 jkruffin
jkruffin's picture

So, is this why the FED claims no knowledge of who got what, when , why and how? They just filtered trillions to a couple crooks like JPM, BNYM, GS and let them funnel it down?  I'm not sure I totally understand this Tri-party repo deal.

Sun, 04/03/2011 - 12:57 | 1129863 TemporalFlashback
TemporalFlashback's picture

Tri-party repo infrastructure explained here:

Sun, 04/03/2011 - 08:44 | 1129558 JonNadler
JonNadler's picture

SO JPM and BoNY were making a  profit passing the money they were getting at zero %?


Was all this money repaid? Do we know how long it tokk to pay it back?


Inquiring sheeple want to know

Sat, 04/02/2011 - 17:49 | 1128542 Goatboy
Goatboy's picture

Using Google Refine could make something useful out of this.

Sat, 04/02/2011 - 17:52 | 1128550 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

"Since the flood of requests appears to have taken down Google Docs"

Or the CIA realized what document they were hosting...

Sat, 04/02/2011 - 17:53 | 1128556 ss123
ss123's picture

Managed to grab the Excel download ok. Try that.

Sat, 04/02/2011 - 18:56 | 1128699 knukles
knukles's picture

I'll bet the under.  No flood, rain, storm, snow, heat, cold, hail, sleet.... they gots lots of computing power.... especially when they need it.

And remember, within hours of the "attack" on Google by the Chinese, Hillary herself was standing tall in the saddle defending... Google... on the basis of free speech.  No other ISP... just Google.  I can connect the dot.

Sat, 04/02/2011 - 17:54 | 1128561 Mentaliusanything
Mentaliusanything's picture

No wonder it took so long to get this information out of the FED.
it would have taken a dozen monkeys months to collate and type this up.

I got a cramp just on the scroll reel.

BTW are they real dollars or pretend dollars 

Sat, 04/02/2011 - 17:59 | 1128568 ss123
ss123's picture

To me this just looks like $15.7+ Trillion being thrown around like dollar bill confetti.

Sat, 04/02/2011 - 18:05 | 1128586 Mentaliusanything
Mentaliusanything's picture

Well it proves that it is the greatest 'Theft in all of History'

And someones going to have to pay it off.

Blankenstiens $19Million/pa salary is chicken shit compared to this payola.

Excuse the language but Fuck me someones going to pay 

Sat, 04/02/2011 - 18:10 | 1128594 ss123
ss123's picture

... and the theft continues. Smart people are not sticking money in their houses right now. Never know how much the price is still going to drop. No sense pimping out the house for the bank.

Sat, 04/02/2011 - 18:27 | 1128637 Seasmoke
Seasmoke's picture

i think people are going to start bulldozing or setting fire to their houses before giving them up to the banksters

Sat, 04/02/2011 - 18:34 | 1128651 KickIce
KickIce's picture

They still get the land...

Sat, 04/02/2011 - 18:59 | 1128704 knukles
knukles's picture

Ah, just add some fresh Japanese topsoil to it...

Sat, 04/02/2011 - 20:09 | 1128816 mr. mirbach
mr. mirbach's picture

hopefully not if the banks can prove clear chain of title!

Sat, 04/02/2011 - 20:46 | 1128885 Things that go bump
Things that go bump's picture

Yes, that would be us.

Sun, 04/03/2011 - 05:43 | 1129451 Mentaliusanything
Mentaliusanything's picture

Come to think of it, where is that Snake, Paulson.

If you see him I have one that will do the deed.

  Australian Brown Snake (Pseudonaja textilis ).

I'd love to see that fucker pucker

Sat, 04/02/2011 - 17:56 | 1128564 Pepe
Pepe's picture

awesome tyler

Sat, 04/02/2011 - 18:02 | 1128572 I am Jobe
I am Jobe's picture

Time to sharpen the Guillottine bitches. Time to chop some serious heads. Screw the court system, too corrupt, or send them all to Libya, Gaza strip or Japan. Give them a bottle of water and say we created this problem. Fuck the bitches , the banks and the Govt.

Sat, 04/02/2011 - 18:03 | 1128582 ss123
ss123's picture

OT: Not sure if anyone's seen this yet (came out last night), but looks like Moody's considers Warren's Sokol affair to be Credit Negative.


Sat, 04/02/2011 - 18:06 | 1128584 JEHR
JEHR's picture

Thank you very much for the spreadsheet.  I hope you will be able to explain some of it in more detail; for example, what is the difference between borrower 1 and borrower 2?  Do they share the money?

Sat, 04/02/2011 - 18:07 | 1128587 Korbin Dallas
Korbin Dallas's picture

Wow: The Plundering Herd.

I love the Dexia/Depfa/Bank of Scotland menage-a-trois strewn all over the place too.

One thing to keep in mind, the distinction between domestic & foreign shouldn't stop merely at domicile of regristration but be extended to include the distribution of bond ownership and revenue sources.  You'll find firms you always thought of as American as Apple Pie to instead be dressed in Yankee sheep's clothing.

If I was in charge, I'd do the following:

  1. Initially concentrate on critical junctures.  Have each firm's current executives/BODs explain each transaction during September-November 2008 and March 2009.  The explanation (at a hearing) should take place on US soil with a 5 minute time-limit per explanation.  At said hearing there should be no charts or other visual aids that render the story to be fuzzy, we're looking for facts on paper.
  2. Then go after the rest, prioritized by foreign firms then by cumulative transaction size.
  3. Then go after whoever was in charge that allowed or caused this to happen.


Sat, 04/02/2011 - 18:07 | 1128588 razorthin
razorthin's picture

Tell me the NWO doesn't already exist.  Guess all that tin foil was just fashion trend-setting.

Sat, 04/02/2011 - 19:07 | 1128720 knukles
knukles's picture

Kinda....  It's the Conspiracy Theories that don't exist.  They're not Theories and the Conspirators are the NWO.

Sat, 04/02/2011 - 18:05 | 1128589 yabyum
yabyum's picture

Somebody has gotten very rich over this. Team ZH,not so much.

Sat, 04/02/2011 - 18:12 | 1128596 frippy
frippy's picture

This ought to rally the dollar, no?

Sat, 04/02/2011 - 18:14 | 1128606 I am Jobe
I am Jobe's picture

ZH , good job and Kudos . Thanks for sharing. Now can we hang the bastards asap

Sat, 04/02/2011 - 18:16 | 1128607 mr. mirbach
mr. mirbach's picture

From :

Discount window loans must be secured by collateral with value that at least equals the amount of the loans. A wide range of assets are acceptable as collateral. In 1999, the Federal Reserve expanded the range of acceptable collateral to include such items as investment-grade certificates of deposit and AAA-rated commercial mortgage-backed securities. Other acceptable collateral consists of U.S. Treasury securities, state and local government securities, collateralized mortgage obligations (AAA), consumer loans, commercial and agricultural loans and certain mortgage notes on one-to-four-family residences.

I just can't wait to see the next two years' data!  

FED to planet earth banks: "We own you, bitchez!"

Sat, 04/02/2011 - 19:11 | 1128726 knukles
knukles's picture

And simply put.... The borrowers did not have enough fucking Fed eligible collateral to properly secure the loans.

Listen up folks, trying to help out here!
Don't miss the big part!

If ya'll make loans against bad collateral, maybe you shouldn't be makin' loans.
For that matter, maybe you'd not be creating money, either.

Credibility Gap
Responsibility Consideration

Sat, 04/02/2011 - 18:17 | 1128612 KickIce
KickIce's picture

I'll take things that are guarenteed to piss me off for 2 trillion Alex.

You'd think the bastards would at very least send me a Christmas card.


Sat, 04/02/2011 - 19:20 | 1128739 knukles
knukles's picture

Alex:  That's correct KickIce.  Congratulations!
You'll be recieving a retroactive federal tax bill for $14,375.94, a notice of audit from the IRS and a visit from a federal law enforcement agent for suspicion of un-American thoughts for being a cryptic vocal smartass.  

Sat, 04/02/2011 - 18:15 | 1128613 Burticus
Burticus's picture

"The CONgress shall have Power To lay and collect pay the Debts; To borrow Money on the credit of the United States; To regulate Commerce with foreign Nations...; To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures; To provide for the Punishment of counterfeiting the Securities and current Coin of the United States."

Looks like CONgress has castrated all of its powers to the (not really) Federal (with no) Reserve.  Meanwhile, the Kenyan Usurper-in-Chief commits an act of war against a sovereign nation under orders from the Untied Nations and NATO command, while CONgress looks the other way like a referee on TV wrestling.

Welcome to a fascist/socialist/communist economic system under a political oligarchy, where the global power elite puppeteer reruns of the elephant 'n jackass show!

Sat, 04/02/2011 - 18:19 | 1128614 baby_BLYTHE
baby_BLYTHE's picture

Has the market already discounted this?

I always thought that once this information was realized we would get the grand "Collapse" everyone had been predicting- the long awaited "Double-Dip" (which is Depression).

If the market shakes this off, then what else would be the catalyst for the Collapse everyone is preparing for?

After all this money printing, there has to be payback. It has never worked in history. That is why I hold Gold & Silver. Hanging on for dear life!

Sun, 04/03/2011 - 11:55 | 1129758 disabledvet
disabledvet's picture

market made money on this.  key was change in accting rules so wall st. could go on attack.  kill the dollar, ramp up afghanistan, have entire political class tell the banks "we got your back."  and what is dicussion today?  tain't this.

Sat, 04/02/2011 - 18:29 | 1128643 Teaser
Teaser's picture

Lemme go break out a beer while this downloads.  Let the FUN begin!

Sat, 04/02/2011 - 18:29 | 1128644 Teaser
Teaser's picture

Lemme go break out a beer while this downloads.  Let the FUN begin!

Sat, 04/02/2011 - 18:43 | 1128673 baby_BLYTHE
baby_BLYTHE's picture

Never too early for a brewski ;)

I am new to all of this so I appreciate all the diligent hard work Tyler and others undertake to help us newbies understand the complexIty of this.

Sat, 04/02/2011 - 18:49 | 1128687 Yen Cross
Yen Cross's picture

What is your mantra. Equities,Currencies, Bonds, Exotics, ? Newbie at what?

Sat, 04/02/2011 - 20:15 | 1128826 baby_BLYTHE
baby_BLYTHE's picture

I don't trade/speculate since I am a student and have only a minimal amount of assets to my name (thankfully no student debt!)

I worked all summer 2010 and used the earnings to go basically 'all-in" on precious metals (about 80%). I also have a non-marginal account with about 1k that I play around with (after QE2 was announced I felt like I didn't have anything to lose).
I have since closed it down because I don't feel confident nor have the experience to understand what is coming next.

Sun, 04/03/2011 - 05:28 | 1129446 Mentaliusanything
Mentaliusanything's picture

You will survive OK as your not a fool. Just hope you find a job that will pay your way and what you learn here will make you a carefull person. Sharks abound, not in the sea but on Wall Street.

Sun, 04/03/2011 - 06:14 | 1129474 Yen Cross
Yen Cross's picture

You both are impressive. I wish you could send the magic to your friends. Thanks for hanging out with us old farts.

Sun, 04/03/2011 - 10:18 | 1129634 css1971
css1971's picture

I don't feel confident nor have the experience to understand what is coming next

The only people who do, are the insiders in Goldman Sachs. For everyone else it's just hubris.

Sat, 04/02/2011 - 18:30 | 1128645 Seasmoke
Seasmoke's picture

and yet the people still sit and do nothing ....of course i am the most guilty

Sat, 04/02/2011 - 18:44 | 1128672 Teaser
Teaser's picture

Just so long as while you sit and do nothing, you've got a nice foreign beer in your hand, like Budweiser.  Because You Deserve What Every Individual Should Enjoy Regularly.

Sat, 04/02/2011 - 18:52 | 1128696 Seasmoke
Seasmoke's picture

Heinekens only, they aint tricking me !!!

Sat, 04/02/2011 - 18:38 | 1128657 frenchie
frenchie's picture

thanks a lot !

Sat, 04/02/2011 - 18:47 | 1128681 Teaser
Teaser's picture

Just WOW!


9/18/2008 Dist: 12 WASHINGTON MUT BK IN DRP 9/22/2008 2,000,000,000 9/22/2008 Dist: 12 WASHINGTON MUT BK IN DRP 9/23/2008 2,000,000,000 9/23/2008 Dist: 12 WASHINGTON MUT BK IN DRP 9/24/2008 2,000,000,000 9/24/2008 Dist: 12 WASHINGTON MUT BK IN DRP 9/25/2008 2,000,000,000 9/25/2008 Dist: 12 WASHINGTON MUT BK IN DRP 9/26/2008 2,000,000,000

They closed their doors on the 26th.


This is why these things need to be PUBLIC!

Sun, 04/03/2011 - 04:46 | 1129417 Fernley Girl
Fernley Girl's picture

$10B laundered to JPM through the collapse of WAMU.  How nice.

Sat, 04/02/2011 - 18:51 | 1128686 Ying-Yang
Ying-Yang's picture

Per FED Govenor Frederic S. Mishkin at an April 10, 2007 speach in Bridgewater, VA...

Monetary Policy and the Duel Mandate

"In a democratic society like our own, the ultimate purpose of the central bank is to promote the public good by pursuing a course of monetary policy that fosters economic prosperity and social welfare. In the United States, as in virtually every other country, the central bank has a more specific set of objectives that have been established by the government. This mandate was originally specified by the Federal Reserve Act of 1913 and was most recently clarified by an amendment to the Federal Reserve Act in 1977.

According to this legislation, the Federal Reserve's mandate is "to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates." Because long-term interest rates can remain low only in a stable macroeconomic environment, these goals are often referred to as the dual mandate; that is, the Federal Reserve seeks to promote the two coequal objectives of maximum employment and price stability."

link -

Does the spreadsheet data support the Dual Mandate? Ron Paul dig deep into this and let the taxpayers know if the loans were repaid and if the collateral pledged was...

"All extensions of credit must be secured to the satisfaction of the lending Reserve Bank by collateral that is acceptable for that purpose. Most performing or investment grade assets held by depository institutions are acceptable as collateral. Collateral in which a special industry lender retains a superior legal interest is not acceptable. Reserve Banks require a perfected security interest in all collateral pledged to secure Discount Window loans.

Assets accepted as collateral are assigned a lendable value (market or face value multiplied by a margin) deemed appropriate by the Reserve Bank. The financial condition of an institution may be considered when assigning values."

Doctor Paul... the FED discount window loans are really okay as the collateral is good as gold and the borrowers are solvent? (sarc).


Sat, 04/02/2011 - 20:56 | 1128906 Seer
Seer's picture

"Duel Mandate"

Them's fighting words!

Sat, 04/02/2011 - 21:34 | 1128974 nmewn
nmewn's picture

"This mandate was originally specified by the Federal Reserve Act of 1913 and was most recently clarified by an amendment to the Federal Reserve Act in 1977."

There's one that's been sticking in my craw.

The Federal Reserve Act itself is un-constitutional in my opinion.

Only Congress has the authority to coin money and regulate it's value to purchase can no more delegate this power to another anymore than you or I can delegate someone else to breathe for us.

Congress doesn't delegate power of taxation to the President no more than the Judicial branch can delegate it's power of law review (passed by the House & Senate) back over to Congress itself...Chuckie Schumer's views notwithstanding of course ;-)

The mechanism to delegate their power is a Constitutional Convention to amend the Constitution in order to allow the Fed to create fiat money (instead of Congress)...this requires the states to sign off on it...they didn't, haven't and won't.

Sun, 04/03/2011 - 12:27 | 1129803 Fish Gone Bad
Fish Gone Bad's picture

We can thank Woodrow Wilson for not being able to keep it in his pants.  He was supposedly caught banging a friend/secretary and the price for the blackmailer's silence was the Federal Reserve act.

Sun, 04/03/2011 - 14:53 | 1130110 samsara
samsara's picture

"There is a power so organized, so subtle, so watchful, so interlocked, so complete, so pervasive that prudent men better not speak above their breath when they speak in condemnation of it"

- Woodrow Wilson
Sun, 04/03/2011 - 19:29 | 1130690 nmewn
nmewn's picture

Good quote...he should know...he was our first fascist president.

“While we are followers of Jefferson, there is one principle of Jefferson’s which no longer can obtain in the practical politics of America. You know that it was Jefferson who said that the best government is that which does as little governing as possible…. But that time is passed. America is not now and cannot in the future be a place for unrestricted individual enterprise.”-Woodrow Wilson

Sun, 04/03/2011 - 07:29 | 1129501 jkruffin
jkruffin's picture

First day this came out I saw $1.5 billion handed to ZIONS BK with NO Collateral listed whatsoever. Not even a lincoln red cent offered.  WTF?

Ron Paul, please proceed with the Treason Charges against Bernanke, Geithner, Blankfein, Dimon, and the rest of the crooks who just laundered Trillions of dollars like it was monopoly money.

Sat, 04/02/2011 - 18:57 | 1128701 High Plains Drifter
High Plains Drifter's picture

Ron Paul is surprised and disturbed huh?  Well isn't that sweet?   He has $3M in his campaign war chest already. What's he going to do this time?  Run for a while and then quit again?  Or is he going to run for the Senate. What to do , what to do?  You know I am 76 years old and I hate everything about this government but dog gone it, I sure like hanging around here inside the beltway. 


I just had a long talk with my retired FBI agent , neighbor and he was talking about scenerios such as , chaos coming to this country. He said have a minimum of 3 months food and water on hand with plenty of guns and ammo. He said in the next two years he believes there will be some major difficulties in this country and that most people will not be prepared for it. How is that coming from someone who one might consider to be tinfoil?  So there is a feeling out here in the void that bad things this way come. I hope many of you will prepare for them. It will not be pretty.

Sat, 04/02/2011 - 19:18 | 1128735 baby_BLYTHE
baby_BLYTHE's picture

Ron said in his most recent Bloomberg interview that his staff immedaitaley started sorting through the data-dump after it was released. He is glad the hearing was delayed for a few weeks so that they could wage a concentrated offensive

Sat, 04/02/2011 - 21:28 | 1128963 High Plains Drifter
High Plains Drifter's picture

Seriously now, just how far do you think this thing will go?  Just how far?  If you think it will then you don't have any idea who you are dealing with, I can this without a doubt.....

Sun, 04/03/2011 - 00:02 | 1129175 Widowmaker
Widowmaker's picture

Joke's on you HPD.

This is already over and done with.  It's gone all the way, buddy - did you not notice that the only thing on the contrition menu was record bonuses?


Sun, 04/03/2011 - 12:08 | 1129779 High Plains Drifter
High Plains Drifter's picture

there is only one way to deal with them. one way only.

Sun, 04/03/2011 - 14:03 | 1129979 samsara
samsara's picture

HPD,  Look at it this way.  It's not at this point "How far do I think it will go?"

But it is just more truth pouring out into the public space.  A few more may learn from it.  Then at the 100th monkey time...  A street vendor will go nuts and set himself on fire and it's off to the races.  

It's just more accumulative info being put out.  More will awake.

Sat, 04/02/2011 - 19:29 | 1128757 Ying-Yang
Ying-Yang's picture

I hear ya High Plains....

You got to be old enough to know Ron Paul has been warning about the FED every year since elected. He has stood alone on his principals over the years, labeled a kook. He could be vastly more wealthy as a doctor or by accepting campaign contributions from the NWO corporation just by playing the game.

He ran in the Republican primary and the MSM kicked him to the curb. Average joes via the Internet funded the majority of his campaign expenses.

I am not saying he is a saint but dammit, my friend, name me another politician who has been such a straight shooter?

Other than that... I agree with you about "the feeling out there in the void". I don't believe that just 3 months of anything will be enough. The anger will not subside in 3 months, it may get you to the next hideout.

Godspeed HP Drifter

Sat, 04/02/2011 - 21:27 | 1128960 High Plains Drifter
High Plains Drifter's picture

Well my point on Paul is to not let yourself be disappointed. There are not too many on our side. Besides Paul has been there now for almost 20 years, and I am most positive he knows full well , the whole damn thing is bullshit.  On the other point,  I find it utterly amazing how much shtf talk there is around here and there now. Now I am not saying the sheep get it. Not by a long shot. They don't. But it is strange to hear someone tell me such things, when 5 years, ago perhaps they would not have been talking about it and would perhaps have considered me a paranoid nutcase. But now, things are different. When people who have been inside the beast say it is time to prepare, I think the prudent thing to do is to prepare and take it seriously. I think it is strange to hear someone talk of things that I myself was talking about 6 years ago, now, as if they truely believe it. There was a time if I had brought this up, they would have just chuckled at me and left it at that. But now they talk of the troubles that are coming. I find it interesting to say the least.

Sat, 04/02/2011 - 21:47 | 1128998 Ying-Yang
Ying-Yang's picture

I agree with your experiences and observations. Being ahead of the curve is frustrating. When conditions effect enough people it reaches critical mass. It's already there in MENA and if conditions in the US don't reverse, revolution occurs.

History repeats itself over and over as the basic instincts of man drive change for better or worse.

Lastly, seeing things you were ridiculed for come to pass should give you pride but sadly it's a hollow victory and most surreal when it occurs.

Godspeed Drifter

Sun, 04/03/2011 - 12:14 | 1129788 High Plains Drifter
High Plains Drifter's picture

yep its a hollow victory. some victory huh?  i suppose a "i told you so" would be in order but what's the use.  He told me the cities would burn and they would let them because it is in their best interest to do so. he said they would allow the city dwellers to devour each other. strange thing to hear coming from a retired fbi and homeland security agent. i guess HPD was right de-assing Houston so many years ago now. I told him what I saw during hurricane rita and he asked me how it felt. I told him it was totally scarey to see the breakdown in society. This I saw with my own two eyes and it was then that I realized a tactical move on my part was necessary. He said they were attempting to train the cops in what they want but he said in the his view on it, the cops will abandon their post and there will be no law to speak of , because the police will go home to take care of their familiies.......and on and on it goes.........people should understand what is coming.



Sat, 04/02/2011 - 21:53 | 1129008 traderjoe
traderjoe's picture

+1 on Ron Paul. He was appointed to Congress over 30 years ago.

Sun, 04/03/2011 - 12:22 | 1129799 High Plains Drifter
High Plains Drifter's picture

perhaps some of you can explain to me what this all means? why does he do this kind of stuff? to me , it is troubling. i can tell you this. i have never known one person in my life that goes around making hand signs like the diablo. now of course they do this at texas football games but other than that i only started seeing the sign of the diablo several years ago. its like ron paul is signaling to whoever it may concern that all is ok , etc.....weird..

Sat, 04/02/2011 - 22:49 | 1129093 RoRoTrader
RoRoTrader's picture

survey says it is an opinion not isolated to the fbi

Sun, 04/03/2011 - 09:52 | 1129615 blindfaith
blindfaith's picture

To High Plains Drifter....

you have it on the head.  As a former 'Page" I still have friends, both Democrat and Republican, who do the work for congressmen behind the curtains.  I was dumbfounded when one after another said there were quiting government because they see no end to the corruption and wanted no more of it.

Now for a bit of enlightment for those of you who dare to wonder why there is so much unrest around the world and people doing something about their abusers (is here next?  Is that what your FBI friend is warning you about?  Was Wisconsin just the beginning?).  For your consideration (written last year I might add) the fore telling of 2011: "Next year, at least once, all of us – even the most devout pacifists – are going to take law into our own hands."  And now, on to the link....

Sun, 04/03/2011 - 10:07 | 1129625 css1971
css1971's picture

We're all still kooks. Waaaay out on the tails of the population distribution curve.

It's going to take a couple more bumps before people sit up and take notice.

You can however use the intervening time and understanding of the nature of money to improve your financial situation.


Sun, 04/03/2011 - 12:35 | 1129819 rocker
rocker's picture

We are Japan.  Look at their market over the past 20 Years. The only ones profiting here. The thieving Banksters.

As much as I loved this country. We are Screwed. It will be ugly. Ironic that Japan did their twenty years of hell. And Now......

Sat, 04/02/2011 - 18:56 | 1128702 pitz
pitz's picture

Don't see any of the Canadian banks on that list, with operations in the USA!  Horray!

Sat, 04/02/2011 - 22:42 | 1129084 Kayman
Kayman's picture

Don't see any of the Canadian banks on that list, with operations in the USA!  Horray!

Bank of Montreal is headquartered in the Peoples Republic of Quebec and the Bank of Nova Scotia (you're poorer than you think) is in the Cayman Islands.

The Canadian Banking system robs its citizens as cleanly as the crooks in New York.

Sat, 04/02/2011 - 19:15 | 1128736 Crook County
Crook County's picture

Noob question...  With all this access to the discount window, is it possible for the Primary Dealers listed on the Fed's website to borrow money from the discount window, purchase Treasuries during treasury auctions, sell those treasuries to the Fed for a Premium on POMO days and pay off their discount window loans with a small profit left over? 

Sat, 04/02/2011 - 20:20 | 1128834 traderjoe
traderjoe's picture

In our fractional reserve banking system banks do not need to borrow money in order to purchase Treasuries (or otherwise loan money). Banks create money out of thin air. Read "Modern Monetary Mechanics" authored by the Chicago Fed. More accurately, banks mark up assets and liabilities. See the "Credit River" case.

Sat, 04/02/2011 - 19:17 | 1128738 Crook County
Crook County's picture


Sat, 04/02/2011 - 19:17 | 1128740 CulturalEngineer
CulturalEngineer's picture

Speaking of idiotic economic models could I just offer up the following model for what I believe is a useful financial innovation... I mean an actually useful financial innovation...

It may not seem that obvious at first and maybe I'm crazy but I've got a lot in it and need feedback... (so far its positive... though it takes a while to understand the implications)

But I'm by myself living over a garage about to be evicted so don't get out much and really need to hear some feedback...

I've mentioned it before as the Commons-dedicated Account but I've gotten some feedback that it may be more...

In hopes this will add clarification on the mechanics at least:



This in no longer just a “commons-dedicated account” concept but full Internet wallet… better than any out there… and I believe of importance.

I’m giving it to the commons once I can avoid personal starvation and homelessness and assuming the Commons has enough sense to pay attention.

Patent #7,870,067 just granted by USPTO 01/11/’11

The technical approach:

I call it a Pooled-User-Determined Account.

Keeping it simple… in very practical terms.

What I am describing is a model for a Commons-Owned, Self-supporting Internet Wallet that doesn’t add to transaction costs, allows a viable micro-transaction (especially useful in politics), the networking of transaction and the protection of user information.

All under some form of User/Commons/Universal ownership and governance…

With an independent VIABILITY on its own… that makes sure that the Commons is NO LONGER A BEGGAR AT THE TABLE.

I believe there are a number of very important additional emergent properties but let’s start with the basics.


A simple and obvious requirement is that it must be a financially equivalent transaction for the donor and recipient whether the contribution is via this system (let’s call it Chagora for now at least) or if you, e.g. went directly to the recipient’s website…

(an example):

Donor wants to give $20 to Red Cross…

User can got to Red Cross website, whip out his Visa and give $20… Red Cross pays transaction fee to Visa and Red Cross gets, I don’t know … $19.50 or something… doesn’t matter.


User goes to Chagora… puts in $20… Chagora pays Visa transaction fee… Chagora transfers $20 to Red Cross and recoups the fee for a $20 Visa charge from Red Cross. Equivalence…

Of course, then the obvious question is… okay… big deal…but two things… so what’s the advantage of using such a system if I can just go to the guy’s website myself… and aren’t there going to be some costs incurred by Chagora that have to be covered somehow?

Yes! Of Course…

The advantages have to do with the additional capabilities which I’ll describe in brief… and the monetization arises via some variations on traditional advertising (with emphasis on local)… before you get your nether hairs all in a knot… remember this is under a form of universal ownership so essentially it can act as a tax by the Commons on entities which are attempting to address it… there are also monetization potentials in certain campaign or charity services which may actually drastically reduce what equivalent charges would be in the private sector… but basic services in those areas are envisioned as being freely offered at no charge to legal candidates or causes. P.S. This is a low-cost business when the profiteering is removed… its almost an automated process.

Okay… now to the One-button transaction… especially the one-button Political Contributions… and MOST especially the viable MICRO-transaction whether in politics or for other purposes:

The Pooled-User-Determined-Account

In essence money and Information go on separate tracks when you make a deposit in your account. When a User deposits money in his/her account certain rights are lost and certain rights are retained.

For example… let’s take that $20… When you put that $20 into the account you can’t take it back out… You no longer ‘own’ it… but (and this is the critical element) you retain CONTROL over its distribution… down to the penny… (some kinds of trusts work like this… but this is for everybody).

Now you can immediately give out that $20 to Red Cross or whatever in which case Chagora simply acts as a sort of pass-through…

Or you may keep some amount in your account for future purposes (like people do with those inevitable hanging x-box points)… and give it out in all sorts of increments to all sorts of recipients.

How about the micro-transaction?

Okay, so you’ve got $2.75 left in your account after whatever other stuff you’ve been doing (or $100, or 25 cents… it doesn’t matter)

And you get an email to “Join the rest of us here at Greenpeace (or whatever) click here and give 25 cents to repair our ship damaged by whatever…

So you click the button and give 25 cents… how would that work? And be secure?

Button links to your account… a 25 cent PLEDGE (NOT an immediate transfer) is recorded to Greenpeace…

You, either immediately or on a pre-determined (by user) periodic basis receive an request for email, IM, or similar confirmation for that pledge alone or a list of pledges to confirm or deny individually.

Okay, now what happens to that 25 cents and those transaction charges (remember it came out of an original $20 deposit whose transaction charges were paid by Chagora) …

Back to explaining the P.U.D. account… when you deposit into Chagora your money goes into one or more POOLS… but your information and decisions regarding its distribution remain with YOU!

So when you designate that 25 cents to Greenpeace… (to make the example clear) it’s combined with other pledges to Greenpeace to reach $20… Greenpeace pays the charge on a transfer equivalent to $20…

Its a little more complicated in actuality but that’s what is essentially accomplished.


When signing up for Chagora, obviously at least enough information is required to complete the deposit should it be via Visa, MC or whatever… HOWEVER from there on, its up to the User…

Obviously for political contribution certain information is demanded and if donor anticipates participation that must be provided… but that need not be utilized elsewhere and is under the control of the User. Similarly a charity contribution could be anonymous or not (user choice).

I’d suggest that ultimately this network provides a possible home for certain information which can remain under the control of the User alone.

And further, that an account has functionality even when un-funded and accounts can be opened with no money at all for other purposes.

I sometimes skip around and assume things are clear to people when they aren’t… so Please ask questions and try demo to guide questions… or please point out faults and/or concerns (there are many potential concerns)…

Maybe this is a helpful way to look at it!

When we give (or are taxed) money to government it goes into a big pool and they do stuff with it. Presumably we have influence over that, but leaving that shaky proposition aside…

This is like putting money into the pool… but YOU decide what to do with it… together with others.

All in all a somewhat scary proposition but we’d best get on with it.

I’m rather desperately seeking some notice here… some questions… comments… criticisms… critiques…etc… this has cost me everything and the hearing for eviction is a week from Monday… no shit.

AN ADMISSION: I have ulterior motives… I want to (quite legally and pragmatically) weaken or destroy the TBTF banks and crack open the political system and break the dominance of the duopoly.

And create the foundations for a more people oriented financial system… I believe this is a seed.

Sat, 04/02/2011 - 19:38 | 1128777 Ying-Yang
Ying-Yang's picture

Wow... other than marketing yourself (idea) on ZH inside a FED article, that being said I think your crazy idea can be implemented by a company called MERS which is really needing new work. (sarc)

Your heart may be pure and your goals admirable... I would stay in the over-the-garage crib as long as you can.


Sat, 04/02/2011 - 20:48 | 1128891 Selah
Selah's picture


Maybe you should look towards directing your investment money towards a proven market model.

I suggest Amway.


Sat, 04/02/2011 - 21:04 | 1128920 Seer
Seer's picture

Who controls the Internet?

I'm not long computers... it's the energy/entropy thing...

Sat, 04/02/2011 - 22:12 | 1129031 Ying-Yang
Ying-Yang's picture

Great question Seer. Currently TPTB have a good headstart. San Antonio, Texas is home to the Dept. of Cyber Security, think Stuxnet, an American export installed by Israeli agents via thumb drives that has effectively delayed Iran's nuke project. Google "Fusion Centers", yes Toto, they do exist to fuse together a collective of data on all things. Every ISP in the nation allows data sharing with TPTB.

Do I worry... not so much. Why?

Yin-Yang baby... there are many good people out there with amazing abilities both inside and outside the evil empire.

Should TPTB step too far balance will be restored by the Yang, the geeks and the kid down the street.

Otherwise mutual mass destruction where networks morph to whatever transport. Can you say short wave?

Skynet is alive and well.

Sun, 04/03/2011 - 05:48 | 1129454 Mentaliusanything
Mentaliusanything's picture

Yeah!!!  I gave at the Store and the Gas pump, Pimp

What comes after 'over a Garage' a Ferrari under it with the cash flow you want.

Fuck off and make something, sell it and get out of my life.

Sat, 04/02/2011 - 19:22 | 1128744 Natasha
Natasha's picture

I had all the foreign banks separated out by name and total amounts. Unfortunately, I can't seem to copy it into comments so it's in any kind of legible format. From what I can tell, the biggest foreign pigs award goes to:




Sat, 04/02/2011 - 19:45 | 1128789 Ying-Yang
Ying-Yang's picture


Try copying and pasting into Notepad (pure text file format) then clean up and organize in Notepad until you like what you see.

Then you can select and copy all the text (alt/a, alt/c) and paste (alt/v) it into your comment.

Sat, 04/02/2011 - 19:41 | 1128782 blazen
blazen's picture

With all the respect...are you sure you got your figures correct and didn't paste some distances... beetween planets instead?! Now I'm disturbed, too. I will double check that once my spreadsheet works again (@ all of you : please show some mercy to google and don't overload it, it has to serve many more requests over coming days)

Sat, 04/02/2011 - 19:42 | 1128783 ArkOmen1
ArkOmen1's picture

The motherload!!!

Sat, 04/02/2011 - 20:03 | 1128808 Dugald
Dugald's picture

Interesting but only up to 09' wonder how much and to whom since then, I know the NAB & Commonwealth Banks of Australia borrowed in recent times, which they tried keep secret.

Sat, 04/02/2011 - 20:17 | 1128831 web bot
web bot's picture

I'm truely lost for words...

Looking at this spreadsheet. What the #uck can you say except only marvel at magnitude of the #uckin mess we have on our hands...

These amounts are so large, a million dollars seems like a drop in the bucket. In fact it is. A trillion dollars is 1 million dollars, a million times.

Considering these numbers and the linkages that the US dollar has on the global economy, when it loses its reserved status, its going to be ugly, very ugly.


Sat, 04/02/2011 - 20:28 | 1128847 carbonmutant
carbonmutant's picture

Do we believe this is the complete list?

Sun, 04/03/2011 - 06:22 | 1129473 LMAO
LMAO's picture

That is an interesting point.

These numbers are so mind-boggling that nobody is going to be willing to believe that this would not be "the complete list".

Maybe I'm a cynic in suggesting that this list might be an equally mind-boggling misrepresentation of the actual "complete list", but who is going to give that a second thought ? . . . besides of you.


Sat, 04/02/2011 - 20:36 | 1128861 belogical
belogical's picture

I expected to see a lot of Wachovia and BofA, but I didn't. Confirms what I have been told, that it was about business it was about a bank run out of Florida.

JPM and Bank Of NY sure showed up a lot.  

Sat, 04/02/2011 - 20:37 | 1128864 belogical
belogical's picture

sorry, it was not about business

Sat, 04/02/2011 - 20:36 | 1128862 f16hoser
f16hoser's picture

Looks like JPM needed 10's of Billions to cover their Silver short positions.

Sat, 04/02/2011 - 20:48 | 1128890 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Who knew that the FED was so rich that they had $trillions to lend out...

... oh wait, they don't

The liabilities will be passed on to U.S. taxpayers one way or another for generations and generations to come.

What a beautiful slavery model, makes me want to cry it's so beautiful.

The scam is soooo big, that people can't see... and those that do see it, can't believe it. Eitherway, they are going to get away with it, evil always wins, always has, always will.

Sat, 04/02/2011 - 21:16 | 1128943 Seer
Seer's picture

It's only an issue if we wish to continue to play THEIR game. Enforcement of their game is becoming harder and harder and will, before too long, collapse.

I'm still thinking that the Fed is the Dark Star, and that its last mission is to swallow up all the crap from the system before it implodes on itself.

Sat, 04/02/2011 - 21:44 | 1128984 Caviar Emptor
Caviar Emptor's picture

The data support the views that have been discussed here on ZH all along: The Fed was used to backstop an international pyramid scheme involving a conspiracy of banks in the US and Europe. They colluded to lever up paper that was essentially only collateralized by more paper (derivatives, derivatives squared, phony ratings, phony risk analysis). Just like a chain letter,  peddling this paper to each other was their core business and little else. Billions in fees and bonuses were generated through the pyramid scheme over years. Without the Fed's bid and liquidity, the bloated financial sector would not have disappeared. It would have been reduced to a core of real banks doing real business. And the creative destruction would have made way for new entrants and healthy competition. But that would have meant that debt owed to TPTB by the masses would have become uncollectible . So the Fed safeguarded the rights of the conspiratorial creditors. They learned from the 1930s alright, because back then creditors took haircuts. 

Sat, 04/02/2011 - 22:40 | 1129083 Ying-Yang
Ying-Yang's picture

+ $15,760,004,161,955

Sun, 04/03/2011 - 08:30 | 1129548 d_7878
d_7878's picture

with the backing of the conspiratorial lawmakers (Congress), all on our dime. Yes, please let's make Jamie Dimon Secretary of  the Treasury.

Sun, 04/03/2011 - 11:10 | 1129681 Founders Keeper
Founders Keeper's picture

[Eitherway, they are going to get away with it, evil always wins, always has, always will.]---FunkyMonkeyBoy

Hi Funky. Thanks for your post.

As for "they are going to get away with it" I disagree. This is not business as usual for the Fed. This is evidence of a criminal system finally imploding---trying to save itself. The last desperate moves of one covering up a lie.

A lie always undoes itself. Brace for impact.


Sun, 04/03/2011 - 11:18 | 1129693 overmedicatedun...
overmedicatedundersexed's picture

in the camps the jews had more chance for justice than will joe sixpack with the jackals in gov and wall street.

there is no governing authority(the fed washing of $$ in off shore banks, what you or I go to jail for) here unlike WWII were military justice was served.

like it or not the criminals got bonus $$ as a cherry on top of the cupcake.

Sun, 04/03/2011 - 19:05 | 1130636 Founders Keeper
Founders Keeper's picture

[like it or not the criminals got bonus $$ as a cherry on top of the cupcake.]---overmedicatedun...

Treason is punishable on pain of death.

When a nation no longer punishes traitors thus, the traitor stands not before their executioner, but before a vanquished nation. 


Sat, 04/02/2011 - 21:03 | 1128916 Catullus
Catullus's picture

Wow.  State Street got $14 billion on 9/23/08 alone.  Then another $14 billion over the next week.  And the maturities were within days. 

Sat, 04/02/2011 - 21:08 | 1128933 optimator
optimator's picture

So, if it wasn't for one man, Pittman, we'd never have been able to see this?  It took a few years and had to go to the Supreme Court?  Our Congress, that oversees the FED could have gotten this one heck of a lot sooner.  Seems they didn't want anyone, including themselves to know any of these details. 

Sun, 04/03/2011 - 00:15 | 1129194 DoChenRollingBearing
DoChenRollingBearing's picture

I hope the Supreme Court ordered the Fed to pay Pittman's (likely horrific) legal expenses...

Sat, 04/02/2011 - 21:17 | 1128941 Ying-Yang
Ying-Yang's picture

Don't know about that. Evil truly pays but ZH is being quoted all around the worldwide web, spreading truth, justice and the (used to be) American way.

If the Tylers that be... can avoid being cuffed, puffed or snuffed... that should be enough!

Keep truckin' Funky MonkeyBoy and spread the ZH... word!

Rest well Mark Pittman and consider the judgement of the Supremes.

Who'd thunk it?

Sat, 04/02/2011 - 21:31 | 1128967 Escrava Isaura
Escrava Isaura's picture

Check Nomi Prins below. You will all enjoy…, I bet!!!

Sat, 04/02/2011 - 22:23 | 1129055 chindit13
chindit13's picture

INCREDIBLE! (Yes, the all-caps bold is intended to draw attention, as this is a great site and deserves its own article---TYLER---on ZH pending Nomi Prins permission).

Nice find, Escrava Isaura

Do NOT follow this link or you will be banned from the site!