Government bailouts did the trick: profits have been soaring at major U.S. banks

The Federal Reserve and U.S. Treasury showered major U.S. and foreign banks with trillions of dollars in bailout funding at the height of the financial crisis – and they emerged with positively glowing balance and income sheets.  Thank you U.S. taxpayer.

The largest transfer of wealth from tax payers to Wall Street – in our nation’s history bailed out the very perpetrators of the financial crisis – to rescue them from their own stupidity and greed.  The bailout was so effective, recipients like J.P. Morgan, Citigroup, Bank of America, Goldman Sachs and Morgan Stanley are doing even better now – than they had been doing prior to the crisis.

Reuters – Oct 7, 2015: Profits at big U.S. banks soar since crisis: New York Fed

“Profits have soared since the global financial crisis at the five biggest U.S. banks with market-making dealing operations, New York Federal Reserve economists said in an article released on Wednesday. From 2009 to 2014, the combined net income of J.P. Morgan, Citigroup, Bank of America, Goldman Sachs and Morgan Stanley annually averaged $41.73 billion, up from annual average of $25.08 billion from 2002 to 2008.”

Now compare how U.S. citizens have been faring during the same period (2009-14), and remember, and remember, working Americans are the ones who funded, directly or indirectly, the massive bailout schemes and credit facility conduits that channeled the liquidity flows..

median household income

American families have ‘lost’ ground over the past 7 years.

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There is a simple, clean remedy to this imbalance, and that is to grant U.S. citizens the same direct access to liquidity that was provided to Wall Street’s financial sector.

The Leviticus 25 Plan provides the mechanism for that liquidity access – through a  Fed-based Citizen’s Credit Facility.

The plan provides for massive debt reduction/elimination at the family level, reduced scope of government, economic revitalization, and economic liberty.  And the Plan pays for itself over a 10-15 year period.

The Leviticus 25 Plan 2015 –  $70,000 per U.S. citizen                                                   hThe Leviticus 25 Plan 2015 (1152)

 

 

 

 

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