Updated bailout price tag: 840 Billion?

[JakeMartinez]

Welcome to the New world order . You are owned by the banks who run the Fed.
News flash....... The federal reserve is about as federal as federal express.
The federal reserve is owned by private bankers to whom you pay interest on the money the government borrows from.
SURPRISE!!!!!!!!
Look at the dollar. FEDERAL RESERVE NOTE.

That quote is taken right out of Zeitgeist, and it's true.

On Wikipedia, it says the profits made by the Fed go to its shareholders, as with any corporation.

However, its shareholders are the banks insured by the FDIC.

Not the Government, not the taxpayers, it's only the college of banks that make up the fed that get the profits from interest.

JakeMartinez Reviewed by JakeMartinez on 11-12-2008. Updated bailout price tag: 840 Billion? I'm surprised this hasn't come up over the past couple of days, but yesterday I saw something quite interesting in the news. While we were all focused intently on the bailout negotiations, the Treasury Department quietly released a five-sentence statement saying it had repealed section 382 (I think) of the tax code. Section 382 kept corporations from claiming losses taken on by buying failing corporations for tax deductions/exemptions (I don't know the exact way it works) This was Rating: 5