State Street Corp, a Boston-based financial services holding company, is one of the oldest financial institutions in the U.S.. This multi-national corporation became the largest security services firm in the world in 2003 – even larger than JP Morgan and The Bank of New York Mellon.
State Street Corp was one of the top recipients of the Fed’s targeted liquidity ‘fire-hosing’ operations during 2008-2010.
Bloomberg Nov 28, 2011 – Excerpts:
“Unlike banks that drew liquidity from the Federal Reserve in 2008 out of desperation, Boston-based State Street Corp. initially did so for profit. State Street, the third-largest U.S. custody bank, collected $75.6 million as a middleman for the Fed’s Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility, or AMLF. Under the program, it borrowed from the Fed to buy securities from money-market funds, helping them meet customer redemptions while being indemnified against losses on the securities. By October 2008, State Street had joined peers in tapping the Term Auction Facility and Commercial Paper Funding Facility, emergency-liquidity programs. On March 31, 2009, its total borrowings from the TAF and CPFF reached $18.5 billion, about the amount its excess liquidity fell that year.”
Peak amount of debt on 10/1/2008 : $77.8 billion
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The Federal Reserve’s massive balance sheet expansion during the Great Financial Crisis did nothing to solve America’s snowballing debt extravaganza, nothing to improve the long-term prospects for financial security for American families, nothing to stimulate long-term economic growth, and nothing to allay the ongoing erosion of the U.S. Dollar.
The Leviticus 25 Plan is a dynamic, ‘ground level’ solution with the raw power to eliminate vast tracts of public and private debt, and redirect trillions of dollars in debt service flows back into the economy.
The Leviticus 25 Plan reduces ‘dependence on government’ for millions of Americans, re-establishes a market-based,economy, a citizen-centered health care system.
The Leviticus 25 Plan produces massive new tax revenue flows for federal, state, and local governmental entities. It produces $112.6 billion federal government surpluses during each of its first five years of activation and pays for itself entirely over the first 10-15 years.
It is time to create a bright new future for America.
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan – An Economic Acceleration Plan for America
$90,000 per U.S. citizen – Leviticus 25 Plan 2025 (12113 downloads )