Fremont Bank received Fed money
By Matt Artz
Thursday, July 2nd, 2009 at 12:50 pm in Uncategorized.
Fremont Bank got $35 million from the Fed last week. It’s part of a plan to help banks lend more and doesn’t necessarily mean that Fremont Bank is in trouble.
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July 2nd, 2009 at 1:09 pm
So sort of like a stimulus for Fremont Bank? Like its encouraging them to lend more so people have money to spend?
July 2nd, 2009 at 1:55 pm
Now you know where the term “funny money” came from.
July 2nd, 2009 at 2:14 pm
Is this why Fremont Bank is advertising ARM loans again? Somebody else’s money?
The fed printed T-bills to supply that $35 mil. If only Fremont Bank would cash CA state IOUs then we’d have our own local finance loop of crap going in and crap coming out -just like the Big Banks.
July 3rd, 2009 at 7:03 am
The Great American Bubble Machine - Matt Tabbi/Rolling Stone
Matt Taibbi lays out how Goldman Sachs has engineered every major market manipulation since the Great Depression
“By now almost everyone knows that for decades mortgage dealers insisted that home buyers be able to produce a down payment of 10 percent or more, show a steady income and good credit rating, and possess a real first and last name. Then, at the dawn of the new millennium, they suddenly threw all that shit out the window and started writing mortgages on the backs of napkins to cocktail waitresses and ex-cons carrying five bucks and a Snickers bar.”
“The push transformed oil from a physical commodity, rigidly subject to supply and demand, into something to bet on, like a stock. Between 2003 and 2008, the amount of speculative money in commodities grew from $13 billion to $317 billion, an increase of 2,300 percent. By 2008, a barrel of oil was traded 27 times, on average, before it was actually delivered and consumed.”
The complete article:
http://www.rollingstone.com/politics/story/28816321/the_great_american_bubble_machine/print