Let's see what the Americans did in their 2008 crisis.
The Federal Reserve provided approximately $7.7 trillion supporting the banking system. See the list below.
Keep it for reference in the future.
1. Morgan Stanley: $ 107 billion
2. Citigroup Inc. : $ 99.5 billion,
3. Bank of America Corp. : $ 91.4 billion,
4. Royal Bank of Scotland Group PLC: $ 84.5 billion,
5. State Street Bank: $ 77.8 billion,
6. UBS AG: $ 77.2 billion
7. Goldman Sachs Group Inc.: $ 69 billion
8. JPMorgan Chase & Co.: $ 68.6 billion,
9. Deutsche Bank AG: $ 66 billion, YES the Germans!
10. Barclays PLC: $ 64.9 billion,
11. Merrill Lynch: $ 62.1 billion,
12. Credit Suisse Group: $ 60.8 billion
13. Dexia SA: $ 58.5 billion,
14. Wachovia Corp.: $ 50 billion,
15. Lehman Brothers Holdings: $ 46 billion,
16. Wells Fargo & Co.: $ 45 billion
17. Bear Stearns: $ 30 billion,
18. BNP Paribas SA: $ 29.3 billion,
19. Hypo Real Estate Bank International AG: $ 28.7 billion,
20. Fortis Bank: $ 26.3 billion,
The American taxpayer will pay the bill.
Showing posts with label World economy. Show all posts
Showing posts with label World economy. Show all posts
Monday, December 5, 2011
New Nobel Prize, new category; Economy Chemist
Capitalism is the economic system where the ownership of the means of production owned by individuals, motivated by the profit generated by the exploitation of labor power. Therefore requires stability on creating additional value from the employee to which accrue, to the capitalists. .
With the constant need to create wealth and the possibilities of production and consumption of finite, sought new funding system power. This started as soon as new global players occurred since the 1980's.We can blame many in the system, but should recognize its ability to anticipate, adapt and survive (so far).
With the core of the system been blocked in the 70's, Capitalism found the way to transfer the gains in office and even capital gains were not created by him.
First step, from the 60's, with world gold and valuations. Second step, since 1973 (Nixon presidency) with the possibility to exchange paper (U.S. dollars) in gold. Third step (2000), with derivatives, which were transformed into global gambling.
The system is constantly moving away from its essence, now looks more like a casino. Out of every casino, there is a usurer. With the last to fear that one day could not get the money to the victim, always is trying to deliver some oxygen to the victim to continue on one hand the victim his efforts, on the other hand the usurer his profitability. It is a systemic issue that would say Benny.
So when there was a need for new products (virtual), was discovered a week ago a new one. No, it is not the 119th element of the nature. Look what is it. The new generation ETF, active management, offering vigorously exposures in the stock through short selling of shares. You can sell shares in anticipation of falling and objective is to profit if the stock falls and security risk (hedging). I opened my books and counting an addition increase on global GDP , roughly $4.5 trillion from this virtual product. With a benefit to the management of 3%, well in addition to a profit of 150 billion.Nice.
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