Taxpayers Are on the Hook for 98 Percent of the Fed’s $6.98 Trillion Balance Sheet

Considering the New York Fed is privately owned by the member banks in its region (as are all of the 12 regional Fed banks) and has run up a $3.9 trillion balance sheet, you’d be forgiven for thinking its share owners would be on the hook for any liabilities. But you’d be wrong… Read More Taxpayers Are on the Hook for 98 Percent of the Fed’s $6.98 Trillion Balance Sheet

Wall Street’s Financial Crisis Preceded COVID-19: Chart and Timeline

If a reputable polling outfit were to ask Americans what caused the current financial crisis on Wall Street, they would say the coronavirus COVID-19 pandemic.
But as this article argues, the financial crisis on Wall Street began in earnest on September 17, 2019, almost four months before the first death from coronavirus was reported in China on January 11… Read More Wall Street’s Financial Crisis Preceded COVID-19: Chart and Timeline