The amount owed under the Term Auction Facility drops to $384 billion. The Bear Stearns debt incurred is getting paid off slowly, with the amount owed down to $27.1 billion.
Meanwhile, the Fed has bought $4.9 billion more in debt owned by Fannie Mae and Freddie Mac, bringing its outstanding obligations to $19.9 billion.”
Update, Dec. 19, 8:40 a.m.: President Bush announced today that $17.4 billion in TARP funds will go to General Motors and Chrysler. The Commercial Paper Funding Facility rose to $318.8 billion, according to the Federal Reserve, while outstanding asset-back comemerical paper loans were down to $27.4 billion. The term securities lending facility droped slightly to $182.3 billion.
Update, Dec. 15, 5:33 p.m.: Outstanding federal loans for the Term Securities Lending Facility are down to $185 billion, according to the Federal Reserve, while Asset-Backed Commercial Paper lending stands at $40.8 billion.
Comments
Federal Reserve Folly
Treasury has loaned about half the $700 billion bailout. When government unconditionally fuses with private financial corporations, who's served? Jane Lunchlady's forced to service Bank of America, etc., not vice versa! That's Stamocap, state monopoly capitalism, big private financial corporations controlling the State. Expect loan refinance, then forgiveness. B. of A., etc. control the Bush Administration and Congress. The Federal Reserve now adds the folly of “easing.” It will create more money and buy discredited “financial products.” Jane L. doesn't sell them. B. of A., etc. made, bought and are stuck with them. Creation of money occurs along with creation of more debt (see the YouTube video “Zeitgeist Addendum, Modern Money Mechanics.”)
Left critics argue for ending war in fiscal restraint terms about the size of the national debt. Rightist critics appear paranoid about the power of Jewish European bankers. Both miss the problem. The debt and deficits matter less than growth of interest payments. That threatens America's ability to carry out our Constitutional commitment to promote our general welfare.
How do you know when your country is run by corporate infernal twins, Republicans and Democrats? Your kids are at war, based on lies, against poor people in weak nations, but antagonizing a billion Muslims, or Chinese... whatever. Your wallet is nearer empty; inflation and taxes for interest on the debt did it. Your weather is more extreme, the environment more depleted and toxic. And your dog is pregnant.
Only extreme campaign finance reform or mass defection from the infernal twins could take us off dynastic politics (Jeb v. Caroline 2016?) and “the middle of the road” to international disgrace and decline.
bailout
Ok who are we helping . The big guys . Come one we need help.