On top of the $160 billion in loans from the Treasury Department, banks - including those based overseas - borrowed $669 billion from the Fed, with the Fed's peak balance at one point reaching a staggering $1.2 trillion.
According to Bloomberg, the $1.2 trillion is about the same amount as homeowners owe on 6.5 million delinquent mortgages, three-times the size of the federal deficit in 2008, and more than the total earnings of federally insured banks in the last decade.
The Fed had refused to disclose the specific sums it lent to the banks in 2008 - but was compelled to by the Dodd-Frank regulatory reform law.
The leaderboard (via Bloomberg):
- Morgan Stanley - $107.3 billion
- Citigroup - $99.5 billion
- Bank of America - $91.4 billion
- UBS - $77.2 billion
- Goldman Sachs - $69 billion
- Deutsche Bank - $66 billion
- Barclays - $64.9 billion
- JP Morgan Chase - $48 billion
- Hypo Real Estate Holding - $28.7 billion
- Societe Generale - $17.4 billion
How many are mentioned in the book The Fourth Reich??I know of at least 2.Seems like they get more help then then the people of the United States do.