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Fed Releases Details On Secret $855 Billion Single-Tranche OMO Bailout Program: Just Another Foreign Bank Rescue Operation

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Wed, 07/06/2011 - 13:12 | 1430185 NoBull1994
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Nice chunk to our friends at GS.com as well.

Wed, 07/06/2011 - 13:13 | 1430188 NoBull1994
NoBull1994's picture

Wonder if that .01% compounded daily or monthly?  just kidding, of course.

Wed, 07/06/2011 - 13:22 | 1430218 MarketTruth
MarketTruth's picture

Are you telling me the CEO of the Vampire Squid Goldman Sachs LIED in front of the honerable United States of America Congress about the qty/frequency they borrowed from the privatly owned Federal reserve central banking system? Wow, so we can all expect Congress to file legal charges against the CEO of Goldman Sachs for lying plus file charges for committing fraud towards their investors. (Sarc)

We all know GS gets a free pass and NO ONE will ever go to jail for the gargantuan fraud. Congress is weak and captured by the banksters. So keep trading with an eye on KNOWING that fraud WILL be done on a daily basis and CEOs will LIE in front of Congress without any repercussions.... ever!

Wed, 07/06/2011 - 13:24 | 1430229 Cash_is_Trash
Cash_is_Trash's picture

Insolvency is already priced into the melt-up boom.

Rally on!

Wed, 07/06/2011 - 13:25 | 1430238 john39
john39's picture

isn't that why clemens is getting prosecuted right now?   so let me get this straight...  jail the baseball player lying about his drug use but...

Wed, 07/06/2011 - 13:36 | 1430257 MarketTruth
MarketTruth's picture

How much money did Clements 'donate' to the members of the US Government? Besides, if Clements goes down the banking system will be fine. Remember your priorities!

Remember: The central bank Federal Reserve members readily admit to helping launder illegal drug money within the United States. They also readily admit to helping disperse funds to finance the murdering wars of Middle-East and African countries, etc. Of course all this is against the USA law, but that obviously does not matter when it comes to actual legal repercussions (and no one will ever go to jail over it).

So tell us again about what Clements did and how his services are vitally important to the bankster system?

Wed, 07/06/2011 - 13:32 | 1430263 NotApplicable
NotApplicable's picture

Never, never, ever talk to the Feds.

Wed, 07/06/2011 - 17:14 | 1430903 BlackholeDivestment
BlackholeDivestment's picture

...Baseball, never heard of it. http://www.youtube.com/watch?v=PI36xLocyco


Why would anyone celebrate ''The Second of Sirius'' http://www.pakalertpress.com/2011/05/11/the-mysterious-connection-between-sirius-and-human-history/ ...and still let Benny and the 911 Jets tax them with the obvious contempt of the prophetic global mark of the beast, if they are not truly deceived?

Wed, 07/06/2011 - 13:34 | 1430268 Lord Blankcheck
Lord Blankcheck's picture

Hey, it was a secret program so it's not a lie.Just MOPE


Roger Clements is the liar not the Lord!


Wed, 07/06/2011 - 13:36 | 1430275 MassDecep
MassDecep's picture

They flaunt it right under your noses, and laugh.

That is what it has come to, "What can we absurdly stick in their faces and get away with this time!"

"Hey, how about some really manipulated Osama photos, And they buy it!!!!"

"This is going according to our agenda, the  sheeple are so stupid."

It's getting to the point, most everything is a lie...



Wed, 07/06/2011 - 13:48 | 1430315 MsCreant
MsCreant's picture

I am getting old enough (mid 40s) that I am finally realizing that this is the way it has always been. They have always been lying, stealing, and doing everything they can get away with. They have always gotten away with it because others did not understand, and propaganda (think about the church backing the king's play, etc.). I am finding that "wisdom" is accepting this as fact and asking myself "now what?" Otherwise I stay exhausted being angry and surprised. I suspect this is a stage of moral development. Curious to see if I live long enough to get wiser and see what comes next.

Wed, 07/06/2011 - 15:11 | 1430620 MassDecep
MassDecep's picture

Hey MsC

I hear ya Brother. I think I woke up three years ago, and decided things were not on the Up and Up. You can call me sadistic, but I really believe it is a Great time to be alive and experiencing this deception. I wake up every day, pretty much ready, for what may come down, thanks to ZH and Corbett and many others who have helped awareness of these times. It really is about being at peace with yourself, and experiencing joy in all the little stuff.

Wed, 07/06/2011 - 15:11 | 1430622 Raymond Reason
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Those who have ears, let them hear.  Remember, Americans have the most well developed and insidious propaganda machine on the planet, so don't kick yourself.  Now you have to start the yoeman's task of deprograming your children, if you have any.

Wed, 07/06/2011 - 15:39 | 1430705 Bolweevil
Bolweevil's picture


Wed, 07/06/2011 - 16:13 | 1430794 smlbizman
smlbizman's picture

thats funny you mention...it was a tough first step...but i started my child at 7 when i told him his first confession was a sham....best first step i have ever taken.....it is much, much easier to be truthfull with him about everything , for the reason his natural reasoning can process the truth...he is 16 now and he trust me totally for being honest with him . he may not like the truth, but he appreciates it....  

Wed, 07/06/2011 - 15:06 | 1430605 Popo
Popo's picture

I'm sorry, can someone repeat the original post?  For a minute I thought I read "$855 BILLION".




Wed, 07/06/2011 - 15:14 | 1430633 Raymond Reason
Raymond Reason's picture

Quarter trillion to Credit Suisee, dude. 

Wed, 07/06/2011 - 16:33 | 1430828 Ghordius
Ghordius's picture

Note the LLC tag.
They are US Securities companies (owned by European Banks).
This is relevant insofar that they are under the authority of the Fed and report exactly how they use the goodies.

They are as American as applepie.

Their shareholders should sell them - are just afraid of do so. Credit Suisse and Ubs are being pressured by the swiss gov to do so.

Wed, 07/06/2011 - 13:14 | 1430192 Oh regional Indian
Oh regional Indian's picture

No justifications possible, eh? Own country starving, other countries Banks whole.

Definitely very in-your-face shennanigans. 

The Libya Sov. Fund piece, GS's management of it and Fed's bailout of Libya earlier is such a tell.




Wed, 07/06/2011 - 13:33 | 1430261 Urban Redneck
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A list of the collateral pledged would be helpful to cut through the crap.  Looking at the timeline, collateral guidelines, and program participants it could well have been the foreigners pressuring the fed to make otherwise unmarginable paper marginable.  The timeline covers the Bear circular firing squad, the GSE nationalization, the great MMF panic, TARP passage, AIG, Citi etc. if foreign governments at the behest of their bankers started looking into loss recovery against the US issuers during this period, there could have been a banker war.   

Wed, 07/06/2011 - 13:41 | 1430291 Oh regional Indian
Oh regional Indian's picture

Very interesting hypothesis Urban. Just not clear who's the dog and who's th etail here.


Wed, 07/06/2011 - 14:15 | 1430390 Urban Redneck
Urban Redneck's picture

I honestly have no idea and no insight into that particular circle of hell since I escaped.  But unless someone is thrown in jail (JV water boys like Charles Keating)- bailouts are usually structured to benefit the white shoe varsity (or the contemporary equivalent).  I would guess the bureauracy in India can take care of its own in a similar fashion?    

EDIT An example would be bailing out Goldman via Mexico when Rubin was running Treasury, or bailing out Goldman via AIG when Paulson was running Treasury, an endless cycle of rebirth into hell of sorts.

Wed, 07/06/2011 - 13:53 | 1430333 SWCroaker
SWCroaker's picture

I've never seen a "banker war" before. Does it involve bankers killing bankers, with lots of gruesome bodily harm?

Can I buy a season's pass for that?

Wed, 07/06/2011 - 15:26 | 1430672 Byte Me
Byte Me's picture

I do sooo hope it involves that 'technical analysis'

Wed, 07/06/2011 - 14:02 | 1430373 brent1023
brent1023's picture

Urban appears to be onto something.

If the European banks fail then we would be looking inside their vaults at all the worthless subprime paper that brought them down. Wall Street added $7T of mortgage paper during the bubble years and all that bubble valuation is gone. That $7T is sitting in banks around the world.

Part of that $7T ended up in banks in Iceland and they blew up before the Fed started thise operations.

Greece, Portugal and Ireland blew themselves up so the EU has to eat that paper without help from the Fed.

Is the Fed slowly buying all that bad sub-prime paper back and taking it onto their balance sheet? If so, we can predict when it will end - another $5T from now.

Wed, 07/06/2011 - 14:10 | 1430403 newworldorder
newworldorder's picture

Given the "trade secrets" and practices of the FED, we will not know of such re purchases in a timely manner. We may never know, as the FED can keep secrets forever. Only Congress can force disclosure and they will not do so.

The MSM has ignored this story as have our sheeple neighbors.

Wed, 07/06/2011 - 15:08 | 1430613 steelhead23
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"Greece, Portugal and Ireland blew themselves up so the EU has to eat that paper without help from the Fed."

Brent, While that statement is true, the Fed is not alone in heaping help upon foreign banksters.  The IMF is mostly funded by the U.S. Treasury.  Hence, it could be said that U.S. taxpayers are, in effect, enriching foreign banksters by providing funds for the Greece bailout.  The giant squids tentacles are long.

Wed, 07/06/2011 - 18:36 | 1431095 tip e. canoe
tip e. canoe's picture

this i believe is the crux of the conversation between mme. lagrande and monseiur paulson (remember him?) back in 2008 :

buy it back and we shut up.    let us fail and we unleash your skeletons.

Wed, 07/06/2011 - 13:15 | 1430196 MsCreant
MsCreant's picture

Zombies eating zombies. What an orgy.

Wed, 07/06/2011 - 14:42 | 1430509 fuu
fuu's picture


Wed, 07/06/2011 - 16:07 | 1430776 RichardP
RichardP's picture


Wed, 07/06/2011 - 13:15 | 1430197 MFL8240
MFL8240's picture

This whole Federal Reserve sytem MUST be dismantled and the guy who gets it is Ron Paul. 

Wed, 07/06/2011 - 13:58 | 1430338 SMG
SMG's picture

Ron Paul is great, but lacks charisma, and an ability to explain things so even the most simple of us can understand.  I think that's why he still allowed to be out there in public by the Oligarchy.

We need someone who feels the way he does about things, but also has charisma and the ability to explain things to even the simplest people.

Wed, 07/06/2011 - 15:19 | 1430649 Raymond Reason
Raymond Reason's picture

Jim Grant?

Wed, 07/06/2011 - 15:47 | 1430726 Bolweevil
Bolweevil's picture

bowtie, never happen. he'd be great though.

Wed, 07/06/2011 - 21:26 | 1431444 RockyRacoon
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Charisma implies telling people what they want to hear.

You'll have to relinquish your Ron Paul candidate.

Wed, 07/06/2011 - 13:15 | 1430198 plocequ1
plocequ1's picture

Well, I guess its not a secret anymore. Rally on. 

Wed, 07/06/2011 - 13:17 | 1430205 ArkansasAngie
ArkansasAngie's picture

Sweetie pies ... this stuff is rank.  Audit the gawd dang Fed.  Let's get to the bottom of this crapola and get about getting on with our lives. 

American National Security Interests are being used as a cover for destroying America's security interests.

Audit the Fed ... now.


Wed, 07/06/2011 - 13:17 | 1430207 Yen Cross
Yen Cross's picture

 Crude looks heavy again.

Wed, 07/06/2011 - 13:19 | 1430215 sheeple2012
sheeple2012's picture

Jefferson and Jackson spinning in their graves now at 855 billion r.p.m.

Wed, 07/06/2011 - 13:22 | 1430225 Yen Cross
Yen Cross's picture

 With a Hoover upright to balance the act!...

Wed, 07/06/2011 - 13:20 | 1430216 Gully Foyle
Gully Foyle's picture

Well this is special


When the White House named Jesse Lee as its Director of Progressive Media and Online Response to rebut criticisms on social-networking media, some people argued that the Obama administration had taken a big step toward becoming Big Brother.  At the time, I argued that this was nonsense, and that the White House had a right to respond to criticism — but that Lee’s job was a task better left to the DNC, which traditionally served the role of political response.  Instead of looking hip and timely, attacking Twitter users would make the Obama administration look petty and thin-skinned, and would diminish the seriousness and dignity of the Presidency.  Punching below one’s weight is a strategy that never pays off.

Little did I know just how far below their weight the White House would punch.  Heritage Foundation’s Rob Bluey analyzes Lee’s feed and discovers that 15% of all his rebuttals in the month since he took the job have been directed at one user, and it’s not Jake Tapper, Bret Baier, Chuck Todd, or even Rush Limbaugh or Glenn Beck.  Instead, Lee has spent almost one-sixth of his twitter time rebutting …  Kevin Eder.


Lee has tweeted 267 times in five weeks?  That’s a little over 10 tweets a weekday.  Try to pace yourself, Jesse!  How much do taxpayers shell out for Jesse’s position of Director of Progressive Media and Online Response, anyway?  Try $72,000 per year.

By the way, in case you’re offended by my “Who?” question on Eder’s behalf, don’t be.  Bluey asked Eder about Lee, and Eder answered that it’s awfully fun getting the White House goat on such a regular basis.  But he’s as mystified as anyone as to why Lee bothers.  “The White House is legitimizing me,” Eder told Bluey, “and quite literally, I’m nobody.”

Lee will have to pick up his pace today.  Barack Obama will hold a Twitter “town hall” this afternoon, moderated by Twitter co-founder (and Obama supporter) Jack Dorsey.  People can ask questions by using the hashtag #AskObama.  Hot Air readers are definitely encouraged to propose their own questions to the town hall.  Perhaps you can add @jesseclee44 to the tweet in order to take some of the load off of Keven Eder, too.

Wed, 07/06/2011 - 13:24 | 1430233 Bay of Pigs
Bay of Pigs's picture

Who cares about this shit? Please try to stay on topic.

Wed, 07/06/2011 - 13:39 | 1430274 Gully Foyle
Gully Foyle's picture

Bay of Pigs

"Who cares about this shit? Please try to stay on topic."

Since I pay fucking taxes I guess I do.

In your case you either don't pay taxes are goddamned pleased that some dipshit gets hired at 72 k yearly to literally twiddle his thumbs.

But worst yet the thumb twiddler seems to focus on a single no name individual.

One would think that this level of excess and incompetence would outrage anyone with a minimal amount of common sense.

But that isn't you, right?

In a related note


What better way to spend a slow summer afternoon than on a White House campaign gimmick aimed at pandering to young voters? Livestreaming at 2 p.m. ET, it’s the Twitter Town Hall, where the questions are limited to 140 characters but the answers will go on — and on, and on — for as long as The One’s train of thought can carry him. You can submit a question yourself by using the hashtag #AskObama; Republican lawmakers, including Paul Ryan, have already availed themselves. The best question thus far, though, came from the other side of the aisle, surprisingly. Follow the link to see what it is — and who posed it. When Trumka said he’d had a “snootful of that sh*t” from the administration, I guess he wasn’t kidding.

( Get to texting bitches may as well take the bitchfest to the source)

Wed, 07/06/2011 - 13:40 | 1430286 MsCreant
MsCreant's picture
Fed Releases Details On Secret $855 Billion Single-Tranche OMO Bailout Program: Just Another Foreign Bank Rescue Operation


That is the topic. Tie your post back to the topic for Bay. I am sympathetic, but this is just a detail amongst all the offenses. Sometimes we focus on details and lose the big picture.

Wed, 07/06/2011 - 14:01 | 1430376 Gully Foyle
Gully Foyle's picture


Two quick questions

First, will you be chastising for EVERYONE who posts off topic in EVERY topic you read?

Second, can you explain to me how the daily bitchfest offers a solution? Other than the information in the op, no one really offers a realistic solution to any of these problems. It isn't like a single one of you are storming the government or banking offices guns drawn demanding a change in policy or heads will roll.

So essentially I should bitch like everyone else. Isn't that like the "rabble, rabble" crowd scenes in South Park?


Wed, 07/06/2011 - 18:30 | 1431083 tip e. canoe
tip e. canoe's picture

"can you explain to me how the daily bitchfest offers a solution?"

gully does have a point

Wed, 07/06/2011 - 13:55 | 1430343 karzai_luver
karzai_luver's picture



While you are on the press gig , check out the PR ops of the

wonderful banking and military.


Especially the mil. I think we can find 75k or so in savings in there.



Is something embedded in your eye today?


Wed, 07/06/2011 - 13:55 | 1430347 Bay of Pigs
Bay of Pigs's picture

Take it easy Gully. I just felt the post wasn't relevant to the bank thread. 

Just put an "OT" before your post, that's all we need.

Wed, 07/06/2011 - 13:58 | 1430360 I_ate_the_crow
I_ate_the_crow's picture

For most, I'm guessing $600 billion of our tax dollars being used to bail out European banks is a little more pressing than the 72K per year the Obama Administration shamelessly wastes in a circus act designed to convince 18-25's to vote for him in 2012 because the President uses Twitter.

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