inside job, the documentary about what happened in the ‘financial crisis’ in 2008- what an important film. you can watch it in full HD quality for free.
and there are still new insights as to what happened exactly, as some recently revealed FED documents show.
The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates.
The amount of money the central bank [‘the FED’] parceled out […] dwarfed the Treasury Department’s better-known $700 billion Troubled Asset Relief Program, or TARP. Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.
berlin music week treat: nice documentary about the past and present berlin nightlife.