Send to a Friend
If the government gave, spent, lent and guaranteed $12.8 trillion to the banks and the total Residential mortgages owed is $11 trillion, why didnt taxpayers dollars go to taxpayers?
)
July 13th, 2011
According to Bloomberg reporting, the government gave, spent, lent and guaranteed $12.8 trillion to the banks that caused this crisis.
NEED TO KNOW | The true cost of the bank bailout | PBS
According to the Federal Reserve, all mortgage debt in the US is totaled at $13.7 Trillion.
Banks have been raking in record profits and foreclosures have been at record highs. If the government is of, by, and for the people, and banks are corporations who only care about profit, wouldnt it have made more sense to give the money to the non-sociopaths, who are becoming homeless and jobless on a daily basis?
Using Fluther
or
