Fortis Bank SA/NV – #20 Recipient of Fed’s “Secret Liquidity Lifelines”

Fortis Bank SA/NV was a large Dutch-Belgian banking and insurance conglomerate, the 20th largest revenue-generating company in the world in 2007. It assumed a certain degree of ‘underwater status’ during the global financial crisis and ended up receiving billions in bailouts from various government entities, including the U.S.

Bloomberg  Nov 28, 2011 :                                                                                                    “Fortis Bank SA/NV, the banking unit of Brussels-based Fortis, was broken up after getting 7.2 billion euros ($10.3 billion) of capital from the governments of Belgium and Luxembourg in September 2008. It was later nationalized. Belgium sold a 75 percent stake in the bank to Paris-based BNP Paribas SA in an all-stock transaction that took seven months to complete. In a 2009 report, Fortis disclosed borrowing as much as 58.7 billion euros from the emergency liquidity lending facilities of the Belgian and Dutch central banks in October 2008. Data show Fortis Bank also tapped the U.S. Federal Reserve’s discount window, taking a $7 billion overnight loan on Sept. 29, 2008, and as much as $26.3 billion in February 2009 from the Commercial Paper Funding Facility and Term Auction Facility.

Peak Amount of Debt on 2/26/2009: $26.3B
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The Federal Reserve’s “secret liquidity lifeline” bailouts of U.S. and foreign banks were designed to restore those institutions to “financial health.”

American citizens indirectly financed those ‘free money giveaway’ bailouts through a future drain on greenback purchasing power.

American families deserve nothing less than the same direct access to liquidity that U.S. and foreign banks received during the global financial crisis 2007-2010.

It is time to restore American families to financial stability and economic “health.”

The Leviticus 25 Plan – An Economic Acceleration Plan for America

$75,000 per U.S. citizen  – Leviticus 25 Plan 2018 (2863 downloads)

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