Is Anything Real? Trillions in Secret Fed Payments Revealed

Is Anything Real? Trillions in Secret Fed Payments Revealed

General Electric? For crying out loud! General Electric has always been licensed to print money just by virtue of doing business and yet they needed -- and I question if they even needed it, but General Electric ended up getting -- what was it, $116 million? Let me find the figure. Hell, even the California State Teachers Retirement System got some of this money. The city of Bristol, Connecticut, General City Retirement Fund got some of this money. I look at this, and my mouth falls open: "$3.3 trillion in loans to financial institutions, companies, and foreign central banks during the crisis in 2008. The figure comes from adding up the maximum amount of aid provided for each of the Fed's credit programs." GE borrowed $16 billion! GE borrowed a total of more than $16 billion. Now, in the case of General Electric, let's connect some dots. The CEO of GE is Jeffrey Immelt. Jeffrey Immelt sits on one of Obama's economic commissions. CNBC is owned by General Electric. That business news channel has been obviously in the tank for Obama and regime economic policy since he was sworn in. General Electric has been big in this "green" technology movement and every other week it seems all of GE from NBC to CNBC to MSNBC "goes green." Now we find out that the regime found its way on the General Electric board in a sense.

When you end up lending this kind of money to private industry, you end up on their board, and you have a say-so in how their company is run. It's socialism. You don't have to go to the board meetings but this is Marxian. It's right out of Karl Marx. I know you start accusing these people of being socialists people laugh. "Ah, come on, Rush. That's insane talk. That's the talk of kooks." It may be but it's what it is. When Obama or anybody he wants to appoint essentially sits on the GE board and when GE doesn't care and there's this situation? It's very, very troubling, ladies and gentlemen. To try to understand all this I sought the counsel of Mike Munger who is the Director of the Philosophy, Politics, and Economics program at Duke University. Now, here are some more details: "New documents show that the most loan[s] and other aid for U.S. institutions over time went to Citigroup ($2.2 trillion)..." $2.2 trillion to a bank? followed by Merrill Lynch ($2.1 trillion), Morgan Stanley ($2 trillion), Bear Stearns ($960 billion), Bank of America ($887 billion), Goldman Sachs..." Goldman Sachs? What do they need any money for? They were bailed out twice! They got this and they got money via AIG. Well, now, what is a little schlub like me supposed to make of this? Well, what I make of this is cap and trade. Somebody is gonna benefit from the "trades" if we actually do start trading carbon credits. Goldman Sachs had the exclusive or the near exclusive on this, but still, why $615 billion? I remember when this was all happening. It was TARP that I was talking about, and I was being halfway facetious. But Henry Paulson was the Treasury secretary (former Goldman Sachs) and at the time, the fall of 2008, we're hearing nothing but the end of the world when it came to economics in this country and the world, and we had to do TARP or else life as we knew it ceased to exist. I said, "Oh, this is making a joke. Paulson just wants to make sure his buddies don't have to give up their homes in the Hamptons," and then I look at this list of people who got the money, and I'm sure they were able to keep their homes in the Hamptons. Many other people are losing theirs. I mean, what are we to make of this $615 billion for Goldman Sachs? And during all this, they're paying billion-dollar bonuses to people -- in total, not individual billion dollars, but bonus packages totaling billions. "($178 billion), JPMorgan Chase" That's David Rockefeller's bank for crying out loud. He's not with it anymore, but it is. "Wells Fargo ($154 billion)." Merrill Lynch was later acquired by Bank of America. Bear Stearns collapsed and was sold to JP Morgan. And in the midst of all this was Lehman Brothers who, for some reason, they said, "Bye-bye, guys. We don't want to save you."

Did I say coup?