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Big Bank Bailout Rolls On: $83 Billion a Year

Written by Gary North on February 26, 2013

U.S. taxpayers cough up $83 billion every year for the 10 largest U.S. banks. The top five get about $64 billion. This is equal to their total profits.

The public does not know this. Congress does not know this. Top bankers know this, because the story of how banks do it was published by the International Monetary Fund. There has been an article on it, published by Bloomberg. One short article.

Do I mean the Dodd-Frank law did not eliminate this? Correct.

Whenever new legislation passes Congress, it has already passed the big banks’ lawyers. These banks are considered too big to fail.

All the political positioning about the sequesters of $80+ billion in fiscal 2013 are needless. The government is paying that much to the top 10 banks.

Continue Reading on www.bloomberg.com

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One thought on “Big Bank Bailout Rolls On: $83 Billion a Year

  1. geneww1938 says:

    Here is an easy budget cut. Does not affect tax payers or the safety of citizens [versus the release of illegal immigrants]. Follow the money and you will find the 300 who control and are stealing this country away from the constitution so they can run it by the UN [which they control … UN owns One World Bank and IMF].