Bloomberg reports 7.7 trillion in loans to big banks and Wall Street

America's Next TARP Model - A Bloomberg report reveals that the U.S. government loaned banks $7.7 trillion in secret bailout funds at no interest and then borrowed the money back at interest. Bloomberg financial news reports 7.7 trillion dollars in US backed loans given starting in 2007 to big banks and Wall Street financial institutions! The real question is, how was this hidden from Americans for the past 6 years. Did Wall Street run the US economy into the ground starting in 2005, 2006, and were they rewarded with trillions in low interest loans? Did the US economy need to be resuscitated in late 2006 because of financial mismanagement, and why has it been hidden from the public for the last six years? Have we become a true plutocracy?

How do we justify giving billions and trillions in loans to save Wall Street Banks yet stand by as our state and public education system are destroyed with billions and soon trillions in budget cuts. Bloomberg news had to fight all the way to the Supreme Court to get the real totals and the names of these financial institution that received these almost free loans. Shame on America for choosing Wall Street before our children and a dream of a quality education.

Just think if the Federal Reserve has the power to loan 7.7 trillion dollars in secret, what else are we being kept from finding out?

http://www.thedailyshow.com/watch/thu-december-1-2011/america-s-next-tarp-model

I just read that less than 4% of people in america are millionaires and 85% of congress and senate are millionairs. Now why is that?