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The Banks and Federal Reserve Are Hiding $47 Trillion in Toxic Derivatives

There’s this nagging question that just keeps coming back to me about the bailouts to all the ‘surviving’ Banks and especially Goldman Sachs, since they haven’t missed a beat. I keep asking, how the hell did they do this?

Most of the increase in our federal deficit this past year is specifically due to bailing out all the banks and their Wall Street pals, (with our money)while trying to save what is left of our tanking economy that they nearly destroyed.

So when I think about Goldman Sachs raking in $3.44 billion bucks in profits this quarter alone, while the US deficit went over a $1 trillion dollars for the first time in the nation’s history, (and appears to now be heading towards doubling that figure in before the budget year is out,) I keep going back to Goldman Sachs and the other 100 ‘secret banks’ the Federal Reserve doled out money to.  It wasn’t just our ‘$700 Billion’ that is in play here.

But since we cannot get any answers from the Federal Reserve, some of this information must be gleaned by the likes of us little old taxpayers who bailed their asses out.

In case you haven’t seen the OCC Quarterly Report on Bank Trading and Derivatives for 2009, I think you might be interested in seeing exactly what is being hidden off the balance sheets that most American are not aware of…..try $47 Trillion dollars of derivatives backed by the government or rotting in some toxic pool that nobody wants anyone to know about, or more important wants you to know about.

I mean, it’s not like ‘we’ the people get a copy of the OCC report in the mail lodged between our National Geographic and Vanity Fair Magazines…… even if we are the ones that bailed all the crooks and liars out.

Nahhh, we gotta go looking for that little piece of information.  Here it is if you want to take a look at it.

http://www.occ.gov