Seven Things That I Know That Really Make Me Upset

1. Five U.S. banks control over 50% of the entire banking industry.
2. The top 1% of U.S. families have a greater share of the nation’s wealth than any time since 1930.
3. Wall Street profits in 2009 and 2010 totaled approximately $80 billion.  Bonuses over this two-year period totaled $43 billion.  (It is amazing that an industry that had a near-death experience in 2008 has made such a spectacular return to profitability.  I guess it is simple when you not only control the organization, Fed, that prints the money but the accounting firms who do your books, FASB.)
4. The Fed’s balance sheet has increased to $2.2 trillion as it purchased $1.3 trillion of toxic assets that it purchased from Wall Street.  The Fed paid 100% on the dollar for assets worth 50%, more likely 30%.  (What a great business model.  Your assets are only worth thirty cents, but your Sugar Daddy gives you $1 for all those worthless assets.)
5. Auditors are not really independent when it comes to Wall Street firms.
6. Fannie and Freddie will end up costing taxpayers at least $400 billion.
7. The biggest borrowers from the Fed were foreign banks during the so-called financial crisis week in October 2008, accounting for at least 70 percent of the $110.7 billion borrowed.  (Where is the outrage?)