In the Fall of 2008, in response to the banking crisis and housing market collapse, the Federal Reserve and U.S. government undertook extraordinary measures to re-liquify Wall Street’s financial sector (banks and insurers), including foreign financial institutions, automakers, and others.
The broad program categories for the trillions of dollars involved included:
The Troubled Asset Relief Program (TARP)
Federal Reserve Rescue Efforts (Fed “secret liquidity lifelines”)
Federal Stimulus Programs
American International Group (AIG)
FDIC Bank Takeovers
Other Financial Initiatives
Other Housing Initiatives
Source: CNN’s Bailout Tracker
Note: The Public – Private Investment Program (PPIP) happens to be one of the programs funded under the TARP umbrella. PIPP is a funneling mechanism for government (tax-payer) money to ‘reach’ Hedge funds – to ‘encourage’ them to buy some of the non-investment grade (crap) mortgages out there, and get them off the books of the banks.
It was recently reported that the Federal Reserve also offered a special “carry trade” for banks and primary dealers – to generate buying on the front end of the yield curve (2-year and 3-year Treasuries) – using an “overnight repo” everyday at “zero.” This amounts to another ‘free money’ program for the banks and PDs [Primary Dealers] – courtesy of the U.S. taxpayer.
And these revolving overnight “repos” reportedly do not show up on the Fed Balance sheet.
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The Federal government ‘central planning’ efforts have accomplished very little, despite the trillions of dollars the government has ‘shuttled’ out to the dozens of well-favored domestic and foreign financial oligarchs.
It is now time for American families to be to receive their own round of direct liquidity extensions, via a Citizens Credit Facility, from the Federal Reserve.
The Leviticus 25 Plan is a comprehensive economic acceleration program, delivering direct credit extensions to American families – $75,000 per U.S. citizen. The debt relief benefits and productivity incentives at the family level would re-ignite economic vitality in America.
Government tax revenues (state, local, and federal) would quickly blossom into an explosive new growth pattern – without raising taxes.
The Leviticus 25 Plan will literally pay for itself over a 10-year window. It will reverse America’s burgeoning debt load and provide long-term stability for the U.S. Dollar.
The Leviticus 25 Plan 2018 – $75,000 per U.S. citizen