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Financial Crisis of 2008 (view source)
Revision as of 16:37, September 5, 2011
, 16:37, September 5, 2011→Troubled Asset Relief Program (TARP): Shadow TARP
The Federal Reserve reported on Dec. 3, 2008, that every region reported sales declines, drops in manufacturing activity, weakening real estate markets, tighter lending, and deteriorating labor marketsThose sectors that had been strong until recently -- especially as agriculture and energy -- also softened as commodity prices declined. November saw 533,000 jobs disappear in the worst one-month decline in 34 years.
The Federal Reserve reported on Dec. 3, 2008, that every region reported sales declines, drops in manufacturing activity, weakening real estate markets, tighter lending, and deteriorating labor marketsThose sectors that had been strong until recently -- especially as agriculture and energy -- also softened as commodity prices declined. November saw 533,000 jobs disappear in the worst one-month decline in 34 years.
===Shadow TARP===
In 2011, it was revealed that the Federal Reserve secretly propped up elite bankers all the way from Wall Street to Brussels to the Central Bank of [[Libya]]. <ref>[http://teamdemint.com/site/post/2142/the-feds-shadow-tarp The Fed's Shadow TARP, TeamDeMint, August 31, 2011]</ref> This was the Fed covertly operating its own bailout program. The names of those involved were revealed by Bloomberg News and it took several years of Freedom of Information Act court battles to unearth Fed actions. The Fed would have never revealed its secret bailout on its own.
==Collapse of #6 and #4 largest banks, rescue of #1==
==Collapse of #6 and #4 largest banks, rescue of #1==