Fed Releases Thousands Of Pages Of Secret Loan Docs

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Thu, 03/31/2011 - 10:20 | 1121211 gordengeko
gordengeko's picture

This should be interesting.

Thu, 03/31/2011 - 10:39 | 1121289 Fish Gone Bad
Fish Gone Bad's picture

My thoughts exactly.  The lender of last resort will end up being the lender of first choice.

Thu, 03/31/2011 - 10:41 | 1121304 Harlequin001
Harlequin001's picture

There are those that have used it, and those that are going to use it.

It is unavoidable in a credit environment...

Thu, 03/31/2011 - 10:42 | 1121307 Dr. Richard Head
Dr. Richard Head's picture

I would assume that the discount window IS banking at its core now.  Problem is, will anything happen because of this?

Thu, 03/31/2011 - 11:18 | 1121446 gordengeko
gordengeko's picture

Even if they laid this whole scam out in laymans terms, the avg american human resource still wouldn't comprehend it.  The few that would, would just say well nothing I can do about it I have more important things to do like go to work tomorrow and I have to take my daughter to the lady gaga concert friday.

Thu, 03/31/2011 - 11:27 | 1121485 Dr. Richard Head
Dr. Richard Head's picture

I have to agree about nothing to do about other than getting out of the system. 

I have petitioned my Congressman, meet with his staff, wrote letters, made phone calls, sent informatino to encourage my friends to do the same, been published in editorials in my local paper, protested, bought gold and silver, withdrawn all funds from stock market, defaulted and settled on debt with unsecured creditors (now debt free on unsecured), challenged my mortgage note, been on national tv bringing up issues, walked door-to-door to help get an audit of the fed, and so many other things that I cannot remember right now.  All of this activity has taken place since 2008.  While the activities, I am sure, have helped in creating more awareness about the issue, most that aren't aware of more concerned about liberal this, or republican that.

I have reserved myself to rants online and getting on a path to self sustaining myself and my family.  As my father has told me, "It is better to save your family from a Katrina like storm rather than try to save the whole city."

Still can't let go of trying to do something about this, but am at a loss for an avenue that will produce results.  Until then I will just continue to drink heavier by the day.

Thu, 03/31/2011 - 11:57 | 1121639 gordengeko
gordengeko's picture

I hear you.  We musn't stop trying tho even if it has resorted to just rants online.  It's possible to make aware just the right person with the right influence at the right time to make a change.  I'm not interested in the masses, they are fucked to be honest,  too far gone with the inoculations, chemicals in the food, propaganda, etc for them to wake up.  They have already pinpointed the location of the "fight or flight" area in the brain, they know how to turn it off.  Thats why no one cares, they already control the majority in the western culture, this is the reason why they are so intent on spreading "democracy".  The reason why they let sites like this, max keiser, www.cuttingthroughthematrix.com, just to name a couple, continue exposing the game is because they have just about complete and total control.  The human species is being mutated, just look at the adolescent males.  Very low % will put up a fight in the future.  They are more interested in wearing skinny jeans and being called an emu, what the fuck is that? 

Thu, 03/31/2011 - 12:40 | 1121767 Canucklehead
Canucklehead's picture

Don't you realize the first successful public mind control instrument was the gen 1 cell phone?


You should put that thing down...  It doesn't need to work anymore.  The "apathy or sloth" feature has replaced the "fight or flight" impulse.

Thu, 03/31/2011 - 13:10 | 1121920 gordengeko
gordengeko's picture

Cmon that scene where he's walking on the beach talkin money on the zack morris gen1 in wallstreet is golden!lol  instant classic

Thu, 03/31/2011 - 12:08 | 1121671 SRV - ES339
SRV - ES339's picture

Hi Doc,

As a Liberal "I feel your pain"... lol!

While I understand the contempt for the L/R nonsense, I also believe it's a mistake to drop out completely... for the very reasons you've laid out. Unfortunately (seriously unfortunate), the political system (sick as it is) is the only "avenue" that can actually reach the average person (like in Wisconsin as an example).

As such, I believe the Progressive agenda is the lesser of two evils (they're in the tank to big business, but only for the money..lol)... the GOP (and the TP, although the rank and file actually believe they're "grassroots") are all in, and willingly support the corporate agenda to rape and pillage the middle and lower classes in the name of ever more profit. I'm sure you have other views (which I do respect) but, other than true civil (middle east like) revolt, the battle must be fought in the political arena... IMHO.

Just tryin' to help out a bit... hate to see a good liver take such a beating... lol!

Thu, 03/31/2011 - 12:23 | 1121720 Dr. Richard Head
Dr. Richard Head's picture

Agreed.  Besides, everytime I actually try to quit and go back to sleep it erupts in the open again. 

Thu, 03/31/2011 - 12:23 | 1121723 Harlequin001
Harlequin001's picture

I arrived at that conclusion and left for sunnier climes back in 2001.

and never looked back...

Thu, 03/31/2011 - 12:15 | 1121696 dark pools of soros
dark pools of soros's picture

yeah, Discount Window means the cashier that you know at the grocery that let's you get your produce for free or whatever...  i guess it's the same thing then

Thu, 03/31/2011 - 13:16 | 1121957 crazyjsmith
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“I think it will make it harder for people to use the discount window in the future,” Jamie Dimon

And this is a bad thing?  What an A hole!  It should be harder to borrow, these SOB's aren't taking that money and helping the economy out, so, YEAH, it should make it harder, and if they are afraid of transparency, then fail. 

Maybe we wouldn't be in this position if they were forced to make hard choices like the rest of the world.

A HOLES!  Maybe they should be forced to replace the Fukushima 50 - give them all one way tickets to hell.   


Thu, 03/31/2011 - 10:22 | 1121213 InconvenientCou...
InconvenientCounterParty's picture

Oh good. More fodder for those awkward press conferences. As if we needed more.

Thu, 03/31/2011 - 10:23 | 1121215 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Criminals bitches!

Thu, 03/31/2011 - 10:44 | 1121309 Harlequin001
Harlequin001's picture

“Having these names made public, or the threat of having them made public, could well impair the efficacy of a key central bank function in a crisis -- to provide liquidity to avoid fire sales of assets -- because banks will be reluctant to borrow.

like they have any choice, they can either borrow against crap collateral or sell it into non existent market.

Which one would you choose...

Thu, 03/31/2011 - 11:19 | 1121453 A Nanny Moose
A Nanny Moose's picture

A market always exists. It's just that "they" did not like the price "they" would have gotten for those "assets."

Thu, 03/31/2011 - 11:40 | 1121559 Harlequin001
Harlequin001's picture

Not this time Nanny, the market was the same banks that were setting the rates through auctions. Only they could know when the market would crash because only they would know at board level when they would stop bidding for their own account. If you weren't sitting on their Board there's no way you could know.

That's a fix, not a market, which is why the only place they could go was the discount window.

There is no market for this stuff...

Thu, 03/31/2011 - 10:24 | 1121217 lsbumblebee
lsbumblebee's picture

Don't be surprised if they're printed on solid black construction paper.

Thu, 03/31/2011 - 10:31 | 1121262 Sig Sauer
Sig Sauer's picture

+++ clever!

Thu, 03/31/2011 - 11:27 | 1121476 assumptionblindness
assumptionblindness's picture

Redacted, bitchez!

Thu, 03/31/2011 - 10:25 | 1121221 Boilermaker
Boilermaker's picture

Well, "it was our only option and in the best interest of the American people".

Get very used to that shit.

Oh, the market is melting up.  Back to your regularly scheduled sodomy.

Thu, 03/31/2011 - 10:35 | 1121269 HelluvaEngineer
HelluvaEngineer's picture

Sure, they concurrently released a huge buy order, along with the documents.

Thu, 03/31/2011 - 10:31 | 1121224 Mercury
Mercury's picture

Look at the (soiled) laundry list of companies in the federal government portfolio these days too.

PHDC REV C 177622 [GO]

Holy crap.

Thu, 03/31/2011 - 10:29 | 1121227 TruthInSunshine
TruthInSunshine's picture

“I think it will make it harder for people to use the discount window in the future,” Jamie Dimon, chairman and chief executive of New York-based JPMorgan Chase & Co. (JPM), the second- biggest U.S. bank by assets, told reporters yesterday after a speech in Washington. “We never intend to use the discount window.”


I have two things to say to Mr. Dimon:

1) Good. It should be MUCH harder to use the discount window to glean a competitive and subsidized advantage. At one time, that was called central planning. Banks are and should be treated no differently than factories, asshole.

2) Good, fuckface. We don't want to see JP Morgan, particularly, EVER be able to avail itself of subsidized loans. You don't need to, anyways,  right Jamie? Why would any free market capitalist ever think JP Morgan shouldn't be busted up, let alone get preferential treatment?


Goldman Sachs, JP Morgan, et al. are the modern day scourge on free market capitalism everywhere free market capitalism pretends to exist in the modern world. These corrupt, ruthless and politically powerful 'financial engineers' succeed because they are protected by a network bought and paid for by vast amounts of favors and payoffs, not because they do anything positive for a true supply/demand oriented market. The create markets through anti-capitalistic means, and then bleed ill-gotten gains from the wreckage they have sown.

Thu, 03/31/2011 - 10:30 | 1121253 buzzsaw99
buzzsaw99's picture

i hope he gets a toomah

Thu, 03/31/2011 - 10:45 | 1121327 Alienated Serf
Alienated Serf's picture

truth, that was pure art.  i nominate you for propaganda minister of the resistance.

Thu, 03/31/2011 - 10:59 | 1121379 LawsofPhysics
LawsofPhysics's picture

I'll second that.  Does the motion carry?

Thu, 03/31/2011 - 11:11 | 1121395 TruthInSunshine
TruthInSunshine's picture


The thing that really pisses me off is that Jamie knows the discount window is closed now, for all practical purposes, at least in the way it had been open during 2009.

So that's why he can make an attempt to sound so independent when he says "we'll never borrow from the discount window" after the fact.

The fucker is really pissing me off. That his firm also employs the likes of Blythe Masters only infuriates me more.

Thu, 03/31/2011 - 11:29 | 1121501 NotApplicable
NotApplicable's picture

Meh, no point in getting pissed.

They will get their's in due time.

Until then, just use your knowledge to further isolate yourself from its effects (as likely you already are), and keep a positive attitude due to the comfort of knowing you're not one of the sheeple they will slaughter.

I refer to this attitude as optimistic pessimissim. Yes, we are going to "Hell in a handbasket," but we might as well make the best out of the ride there.

Thu, 03/31/2011 - 11:31 | 1121502 Cdad
Cdad's picture

Amen, brother Truth,

J. Dimon, in my estimation, has long since overtaken L. Blankfeind as the most disgraceful banker in the nation.  We all know the long list of JP Morgue violations of law, and we have all seen the way in which the bank "beats" earning estimates, and etc.  

However, the richness of this man's sickness was never more clearly on display than from the beautiful hills of Davos when he complained to the world how hard it was to be a millionaire banker.

Unless, of course, you count his complete hypocrisy from yesterday, preparing mom's and pop's all across this broad land to prepare for losses in the muni portfolios while suggesting that losses in Federal debt [not raising the debt ceiling] was literally an "insane" thought.

When you see a man like that, when he is so oblivious to his own arrogance, his corruption, his sense of superior intellect, it is breathtakingly....Faustian.

Yep, J. Dimon really takes the cake...here here, brother Truth.

Thu, 03/31/2011 - 12:02 | 1121652 Dr. Porkchop
Dr. Porkchop's picture

There are bankers of a non-disgraceful variety?

Thu, 03/31/2011 - 11:06 | 1121414 NidStyles
NidStyles's picture

Motion carried, now onto the topic of socks and puppets.

Thu, 03/31/2011 - 13:03 | 1121896 SilverFiend
SilverFiend's picture

Remember that the resistance does not need to rely on propaganda.  Telling the whole ugly truth will be sufficient.

Thu, 03/31/2011 - 12:37 | 1121760 AlaricBalth
AlaricBalth's picture

JP Morgan never "intended" to use the discount window because between 2008 and 2009 JPM kept rolling over loans totaling an aggregate of $52 Billion dollars from the FRB's Term Auction Facility at an average interest rate of approximately .33%. These loans were collateralized for the most part by their stellar residential loan portfolio. This rate was much better than the rate charged at the discount window for primary borrowers at that time.

Thu, 03/31/2011 - 10:25 | 1121230 bania
bania's picture

I have a hard time believing incriminating docs will actually see the light of day.

Thu, 03/31/2011 - 10:34 | 1121265 Cognitive Dissonance
Cognitive Dissonance's picture

I agree.

Forgive my cynical view, but the FED has had over two years to scrub this data of the information it really doesn't want disclosed, then make sure it flows and any counter parties have done so as well. 

Thu, 03/31/2011 - 10:36 | 1121283 Boilermaker
Boilermaker's picture

When is the flash crash and the emergency law re-write to avoid this?

Thu, 03/31/2011 - 11:27 | 1121477 Solemn Simulacrum
Solemn Simulacrum's picture

I'm with you.  Too much time to clean it up.  Let's see if we're wrong.

Thu, 03/31/2011 - 10:26 | 1121234 alien-IQ
alien-IQ's picture

"it is a tale told by an idiot, full of sound and fury, signifying nothing"


Thu, 03/31/2011 - 10:28 | 1121235 umop episdn
umop episdn's picture

"We shall find out very shortly just how often JPM and everyone else used the discount window..."

If I was a betting humanoid, I'd be throwing my LOLlars around at this very moment. Liars lie, and this is just another circus of distraction...all in my humble opinion.  

Thu, 03/31/2011 - 10:28 | 1121236 Sean7k
Sean7k's picture


Mark Pittman. Citizen hero. 

Should have been Jaime Demon in his place. 

Thu, 03/31/2011 - 10:40 | 1121295 Boilermaker
Boilermaker's picture

+1 honest person against the establishment

Thu, 03/31/2011 - 10:28 | 1121237 tcrown
tcrown's picture

Just because CEO's announced their company was solvent and expecting their stock to rise and dividends to be paid on the same day they panhandled the FED for 29 billion doesn't mean they lied.  Just optimistic in the future.  Well done boys.  Well done... 

Thu, 03/31/2011 - 10:30 | 1121243 Misean
Misean's picture

" the Fed today released "thousands of pages" of discount window borrowings... we observe that not only has the market not plunged, but the Dow is in fact higher at this moment..."

Pavlovian reaction to the Feral releasing printed paper.

Thu, 03/31/2011 - 10:46 | 1121326 Dr. Richard Head
Dr. Richard Head's picture

"thousands of pages" = banking solvency, as a whole, depends on the discount window.  Period. The house of cards is built on a base of negative interest rates and free money. 

I am in awe that ANY bank cannot make money when they create credit out of thin air, based on a fraction (possible 0) of their reserves, and then charge usury.  You would have to be a fucking moron not to make money in this manner.


Thu, 03/31/2011 - 11:22 | 1121463 chunga
chunga's picture

Get a load of this shit. Nationwide Title Clearing is threatening a volunteer website with a SLAPP suit for publishing a document available on the Internet at many locations. I think by day's end it will be available for download on a couple thousand more sites. Bust their balls and scribd the damn thing everywhere. You'd think NTC would have enough to do with all the titles they have to reverse engineer.

Here's a link to the futile slapp suit...

Here's the site getting "slapped"

Getting rid of that lousy First Amendment ought to send the DOW through the roof...

Thu, 03/31/2011 - 10:30 | 1121248 ivana
ivana's picture

FED & utilities for Great Game of expropriation.

Thu, 03/31/2011 - 10:28 | 1121251 Careless Whisper
Careless Whisper's picture

just wondering, is the halliburton bank & trust on that list?

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