Who Did Bernanke's Helicopter Money Drops Benefit the Most?
Here is how much top shareholders at S&P 500 companies made due to market gains in 2013:
[ All Obama supporting plutocrats. ]
When these guys say Bernanke did a good job, now you will know why. Note well: At the top of the list is Warren Buffett who has been a major Bernanke supporter and benefited directly from the Fed bail out of Goldman Sachs by buying stock in Goldman THE DAY BEFORE THE FED AND THE TREASURY LAUNCHED THEIR BAIL OUT PROGRAMS.
Second on the list is Jeff Bezos who appears to have made most of his money legitimately via Amazon, but who,curiously, has since bought the elitist regime propaganda rag, The Washington Post.
http://www.economicpolicyjournal.com/2014/02/who-did-bernankes-helicopter-money.html
How Buffet benefitted from TARP:
.... Berkshire, based in Omaha, Neb., owns stock valued at more than $13 billion in the top recipients of TARP funds, including Goldman Sachs Group, US Bancorp, American Express and Bank of America, which analysts all thought were in deep trouble before TARP was approved in October.That total, The Bee found, ranks Berkshire fifth among all investors in TARP-assisted companies. Berkshire's TARP holdings constitute 30 percent of its publicly disclosed stock portfolio, and that proportion reflects at least twice as much dependence on bailed-out banks as any other large investor.
Berkshire, for instance, is the largest shareholder in San Francisco-based Wells Fargo, which got $25 billion — 91 percent of the TARP funds invested in institutions headquartered in California.
Read more here: http://www.mcclatchydc.com/2009/04/05/65496/buffett-champion-of-bailout-is.html#storylink=cpy
Buffett increased his bank holdings in September, while he was arguing in the media that Congress should approve the bailout to prevent the collapse of the global financial system.
"If I didn't think the government was going to act, I would not be doing anything this week," Buffett told CNBC after investing $5 billion in Goldman Sachs. "I am, to some extent, betting on the fact that the government will do the rational thing here and act promptly."
The more the bailout props up these financial companies, the more secure Berkshire's and other shareholders' investments in them are. Berkshire shares have risen sharply with the financial sector stock rally in recent weeks, but they're still down nearly 40 percent since September. In Friday trading, they closed at $92,490 a share.
"People can draw their own conclusions" about Buffett's stake in the bailout, said Richard Coppes, an expert in business ethics at the international law firm Jones Day, and a former general counsel of the California Public Employees' Retirement System. "But it shows one reason Buffett is so intensely interested in TARP."
Buffett, whose company is also the largest investor in Goldman Sachs and American Express, declined to be interviewed. In a February letter to Berkshire shareholders, he said that without government intervention, the consequences for the economy would have been "cataclysmic."
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Read more here: http://www.mcclatchydc.com/2009/04/05/65496/buffett-champion-of-bailout-is.html#storylink=cpy
http://www.mcclatchydc.com/2009/04/05/65496/buffett-champion-of-bailout-is.html
No reason to leave out Obama's favorite cronies:
.... Jeffrey Immelt. G.E. is usually thought of as an industrial corporation, but it is also a big bank in disguise. In recent years, its G.E. Finance arm has provided more than half of its revenues. In November, 2008, at the height of the financial crisis, the Federal Deposit Insurance Corporation agreed to guarantee bonds issued by G.E. Capital, and in the following seven months the firm issued almost $90 billion worth of debt that was backed by U.S. taxpayers. Without this taxpayer guarantee, which wasn’t highly publicized at the time, G.E. would have struggled to roll over its debts and could even have gone under
.......
http://www.newyorker.com/online/blogs/johncassidy/2011/01/volcker-immelt.html
Your beloved MSNBC is a creature of Jeffrey Immelt of GE (& NBC & MSNBC):
..... General Electric and Obama are in bed with each other. General Electric got gobs of TARP money. They got stimulus money. They don't need it. General Electric didn't need any of that money. General Electric has been in bed with Obama on this green energy garbage. MSNBC, the NBC networks, "go green" many weeks a year with their graphics and all this other stuff -- and they've used government money to create this green energy division that they have, and they're behind these compact fluorescent lightbulbs. They run NBC and MSNBC at a steep loss in order to give Obama his own cheerleading news network, and this CEO ends up on an advisory board now.
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RUSH: Ladies and gentlemen, I am holding here in my formerly nicotine-stained fingers a story (shuffling papers) from the Washington Post June 29th of 2009. Let me summarize this story for you: TARP was expanded by Obama for GE, which did not qualify as a bank. Remember, now, TARP was to bail out banks. TARP was expanded by Obama for GE, which didn't qualify as a bank. GE's "bank" became the top beneficiary of TARP funds. Jeffrey Immelt is involved here. The story from the Washington Post is Monday, June 29th, 2009: "How a Loophole Benefits GE in Bank Rescue -- Industrial Giant Becomes Top Recipient in Debt-Guarantee Program."
You need anymore? I'll give you more. It's astounding here. There needs to be a stop right now and an investigation of all of this. "General Electric, the world's largest industrial company, has quietly become the biggest beneficiary of one of the government's key rescue programs for banks. At the same time, GE has avoided many of the restrictions facing other financial giants getting help from the government. The company did not initially qualify for the [TARP] program, under which the government sought to unfreeze credit markets by guaranteeing debt sold by banking firms.
"But regulators soon loosened the eligibility requirements, in part because of behind-the-scenes appeals from GE."
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"Public records show that GE Capital, the company's massive financing arm, has issued nearly a quarter of the $340 billion in debt backed by the program, which is known as the Temporary Liquidity Guarantee Program, or TLGP.
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"Also unlike firms that have received bailout money in the Troubled Assets Relief Program, or TARP, GE is not subject to restrictions such as limits on executive compensation." So GE -- unlike AIG and Goldman Sachs -- can bonus their execs whatever they want. They can pay their execs whatever amount they want. They were recategorized as a bank so as to get bank bailout money, and now yesterday GE's chairman ends up on a new advisory committee on jobs and the economy set up by executive order. And the Washington Post is totally unfazed as they report this.
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http://www.rushlimbaugh.com/daily/2011/01/21/the_regime_immelt_deal_smells |
