The FDIC just released a report titled "Issuer Reported Debt Details" for the Debt Guarantee Program (DGP) portion of its Temporary Liquidity Guarantee Program (TLGP), which shows a total of $618 billion in debt was issued by banks that was ultimately guaranteed by US taxpayers. According to the FDIC's release:
"Under the DGP, the FDIC guaranteed debt that was issued between October 2008 and October 2009 by participants in the program. The guarantee expires at the end of this year, by which time almost all debt issued under the program will have matured. The information being disclosed includes for each registered issuance of FDIC guaranteed debt the: 1) issuer name; 2) CUSIP or other identifier; 3) issue date; 4) maturity date; 5) rate type; 6) interest/discount rate at issuance; 7) amount of unsecured debt; and 8) unsecured debt total fee."EconomicPolicyJournal.com has analyzed the more than 9,500 bank debt issues disclosed by the FDIC. It found that Bank of America, NA and its holding company, Bank of America Corporation borrowed over $111 billion, of which $69 billion was issued at zero percent (0%), the most of any bank at that rate.
Other banks that were able to borrow at zero percent include Citigroup Funding (through Citibank, NA), General Electric Capital, Goldman Sachs Group and HSBC USA. Of the largest borrowers, Merrill Lynch & Co. was able to finance nearly all of its $19.8 billion in debt at zero percent.
General Electric Capital was the single entity that borrowed the most pursuant to the FDIC-guaranteed program at $130.9 billion, though Citigroup Funding (a holding company) and Citibank, NA borrowed a combined total of $162.0 billion. JP Morgan entities borrowed $42.5 billion and Goldman Sachs Group borrowed $37.5 billion.
Following is a table compiled by EconomicPolicyJournal.com of the borrowing entities sorted by amounts borrowed:
| Total | $618,413,398,408 |
| General Electric Capital Corporation | $130,850,166,935 |
| Citigroup Funding Inc. | $128,997,377,222 |
| BANK OF AMERICA CORPORATION | $64,079,465,128 |
| Bank of America, National Association | $46,976,837,903 |
| JPMORGAN CHASE & CO. | $40,534,011,955 |
| GOLDMAN SACHS GROUP, INC., THE | $37,652,426,455 |
| Citibank, National Association | $33,056,511,373 |
| MORGAN STANLEY | $30,256,932,941 |
| Merrill Lynch & Co., Inc | $19,786,359,000 |
| CITIGROUP INC. | $13,850,000,000 |
| WELLS FARGO & COMPANY | $9,500,000,000 |
| GMAC LLC | $7,400,000,000 |
| American Express Bank, FSB. | $5,900,000,000 |
| John Deere Capital Corporation | $4,913,503,000 |
| HSBC USA INC. | $4,616,910,000 |
| U.S. Bank National Association | $4,282,285,453 |
| Regions Bank | $4,200,000,000 |
| PNC Funding Corp | $3,900,000,000 |
| U.S. BANCORP | $3,001,458,750 |
| SunTrust Bank | $3,000,000,000 |
| STATE STREET CORPORATION | $2,839,431,500 |
| State Street Bank and Trust Company | $2,450,000,000 |
| Union Bank, National Association | $2,210,000,000 |
| JPMorgan Chase Bank, National Association | $1,978,370,371 |
| Sovereign Bank | $1,350,000,000 |
| Bank of the West | $1,002,889,124 |
| Keybank National Association | $1,000,000,000 |
| KEYCORP | $937,500,000 |
| Banco Bilbao Vizcaya Argentaria Puerto Rico | $686,440,926 |
| BANK OF NEW YORK MELLON CORPORATION, THE | $603,448,298 |
| The Huntington National Bank | $600,000,000 |
| SUNTRUST BANKS, INC. | $576,000,000 |
| New York Community Bank | $512,000,000 |
| Wilmington Trust Company | $460,000,000 |
| The Bank of New York Mellon | $436,964,547 |
| METLIFE, INC. | $397,436,000 |
| Associated Bank, National Association | $395,000,000 |
| Fifth Third Bank | $285,000,000 |
| Wachovia Bank, National Association | $271,452,170 |
| ZIONS BANCORPORATION | $254,892,500 |
| Wells Fargo Bank, National Association | $250,868,606 |
| Sovereign Bancorp, Inc. | $250,000,000 |
| USAA Capital Corporation | $221,000,000 |
| Texas Capital Bank, National Association | $149,900,656 |
| HSBC Bank USA, National Association | $125,688,079 |
| Oriental Bank and Trust | $105,000,000 |
| WASHINGTON FIRST FINANCIAL GROUP, INC. | $90,638,211 |
| NEW YORK COMMUNITY BANCORP, INC. | $90,000,000 |
| Amalgamated Bank (Pooled Funding Trust 1) | $85,000,000 |
| National Consumer Cooperative Bank (Pooled Funding Trust 1) | $75,000,000 |
| AnchorBank, FSB (Pooled Funding Trust 1) | $60,000,000 |
| Provident Bank (Pooled Funding Trust 1) | $51,500,000 |
| Banner Bank | $50,000,000 |
| Integra Bank National Association (Pooled Funding Trust 2) | $50,000,000 |
| Renasant Bank (Pooled Funding Trust 2) | $50,000,000 |
| The Frost National Bank | $46,936,918 |
| Amboy Bank (Pooled Funding Trust 1) | $46,000,000 |
| Sterling Bank | $42,750,000 |
| Bank of the Cascades | $41,000,000 |
| Superior Bank (Pooled Funding Trust 2) | $40,000,000 |
| First Merchants Bank NA (Pooled Funding Trust 2) | $36,352,000 |
| American National Bank (Pooled Funding Trust 2) | $35,000,000 |
| Access National Bank (Pooled Funding Trust 1) | $30,000,000 |
| Wilmington Savings Fund Society, FSB (Pooled Funding Trust 1) | $30,000,000 |
| State Bank of Long Island (Pooled Funding Trust 2) | $29,000,000 |
| Preferred Bank (Pooled Funding Trust 1) | $26,000,000 |
| Manufacturers and Traders Trust Company | $24,250,000 |
| RBS Citizens, National Association | $22,641,280 |
| The Park Avenue Bank (Pooled Funding Trust 1) | $20,000,000 |
| Lafayette Bank and Trust Company, NA (Pooled Funding Trust 2) | $16,530,000 |
| First Merchants Bank of Central Indiana, NA (Pooled Funding Trust 2) | $15,011,000 |
| Patriot Bank (Pooled Funding Trust 1) | $15,000,000 |
| Carver Federal Savings Bank | $14,068,000 |
| BAC Florida Bank | $14,000,000 |
| NCB, FSB | $13,688,000 |
| Comerica Bank | $13,066,197 |
| Commerce National Bank (Pooled Funding Trust 2) | $11,107,000 |
| Community FirstBank of Charleston (Pooled Funding Trust 1) | $10,300,000 |
| Crescent Bank (Pooled Funding Trust 1) | $10,100,000 |
| The Bank of Holland | $10,000,000 |
| TCM Bank, National Association | $9,550,000 |
| CHAMBERS BANCSHARES, INC. | $8,460,000 |
| BankTrust | $7,921,779 |
| Nara Bank | $7,281,438 |
| Enterprise Bank & Trust | $7,250,000 |
| CNB BANCSHARES, INC. (Pooled Funding Trust 2) | $6,500,000 |
| The Bank of Northern Michigan | $6,000,000 |
| The La Porte Savings Bank (Pooled Funding Trust 1) | $5,000,000 |
| Premier Bank (Pooled Funding Trust 2) | $4,000,000 |
| 1ST SOURCE CORPORATION | $3,824,457 |
| COASTAL COMMUNITY INVESTMENTS, INC. | $3,750,000 |
| Capital One, National Association | $2,750,000 |
| Palm Desert National Bank | $2,605,522 |
| STONEBRIDGE FINANCIAL CORP. | $2,075,000 |
| Macon Bank, Inc. | $2,014,602 |
| Bradford Mid-Tier Company | $2,000,000 |
| D. L. Evans Bank | $1,317,490 |
| EQUITY BANK HOLDING COMPANY, INC. | $1,250,000 |
| FEB BANCSHARES, INC. | $1,250,000 |
| Compass Bank | $1,000,000 |
| Washington First International Bank | $1,000,000 |
| FIRST HORIZON NATIONAL CORPORATION | $860,000 |
| First Hawaiian Bank | $825,203 |
| Alma Bank | $750,000 |
| Meridian Bank Texas | $750,000 |
| The University National Bank of Lawrence | $750,000 |
| Tri-State Bank of Memphis | $750,000 |
| Vectra Bank Colorado, National Association | $660,354 |
| TREATY OAK BANCORP, INC. | $550,000 |
| FIFTH THIRD BANCORP | $500,000 |
| Patriot Bank Minnesota | $500,000 |
| Watertown Savings Bank | $259,409 |
| PROMERICA Bank | $245,000 |
| Bank of Monticello | $240,000 |
| QUEENSBOROUGH COMPANY, THE | $200,000 |
| Community Bank of Central Wisconsin | $150,000 |
| Colorado Mountain Bank | $50,000 |
| First Midwest Bank | $50,000 |
| The Bank of Commerce | $38,000 |
| American Savings Bank, FSB | $1,922 |
| Citizens Bank of Pennsylvania | $733 |
| Central Bank | $0 |
The Fed is privately owned by the very (TBTF) banks it bailed out. Our money is printed by a private banking cartel which loans it to our country at interest, which we, the people, are expected to pay back. Until this issue is publicized and dealt with by abolishing the Fed and printing our own money at no interest (via the U.S. Treasury, as the Constitution stipulates) our country is in dire danger, as the banks have taken over our Congress. These imposters, print up OUR money, loan it to OUR government, which gives it back to THEM, yet, we the people incur the debt, principle plus interest.
ReplyDeleteMONUMENTAL GREED. The TBTF Banks that own the so-called 'Fed', have decided to print themselves TRILLIONS of $$ (at least $20 TRILLION), yet, somehow, we the people must pay it back to the government, at interest?