{"id":10982,"date":"2013-10-31T19:36:16","date_gmt":"2013-10-31T19:36:16","guid":{"rendered":""},"modified":"2013-10-31T19:36:16","modified_gmt":"2013-10-31T19:36:16","slug":"the_wall_street_qe_connection","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2013\/10\/31\/the_wall_street_qe_connection\/","title":{"rendered":"The Wall Street-QE Connection"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: Willie in Cuba, Missouri. Great to have you on the program. Hi.<\/p>\n

CALLER: Thank you, sir, and mega truck-driving dittos. I had a question on this $85 billion a month that the Obama administration\u2019s putting in our stock market.<\/p>\n

RUSH: Yeah?<\/p>\n

CALLER: There\u2019s gotta be a brokerage house running that for \u2019em. How much money are they making, who are they, and how much of it goes back to the Democrats in the political season?<\/line><\/p>\n

RUSH: Yes. Those are all fascinating questions. You know, off top my head I can\u2019t tell you the route the money takes, because the money… Do you know what I mean when I say they\u2019re digitizing it? They\u2019re not actually printing it. They\u2019re just changing the number in a spreadsheet at wherever. They\u2019re just arbitrarily adding dollars. They\u2019re not physically printing money.<\/p>\n

CALLER: Yes, I understand that.<\/p>\n

RUSH: Okay. So I don\u2019t know the route that actually takes, if it\u2019s just one brokerage house or a number of them.<\/p>\n

CALLER: Yeah, \u2019cause that\u2019s gonna be a lot of money. Just 1% would be $85 million a month, so somebody\u2019s making a fortune on that, \u2019cause I know the fees are usually a little higher.<\/p>\n

RUSH: Well, there\u2019s no question there are a lot of people making a fortune on it. They\u2019re making a fortune on it after it\u2019s invested in certain securities and so forth.<\/p>\n

CALLER: Yes.<\/p>\n

RUSH: Your suspicions are valid, and the Fed announced just yesterday they\u2019re gonna continue QE3 \u2019til the end of December, at least, which means the economy can\u2019t survive on its own.<\/p>\n

CALLER: Oh, right, or at least they don\u2019t think it can.<\/p>\n

RUSH: They don\u2019t think it can, right. The bottom line is, you\u2019re not seeing any of that money and neither is anybody else outside of the, quote\/unquote, “investment community.”<\/p>\n

CALLER: Right.<\/p>\n

RUSH: Now, how far that extends, who knows? You know, Goldman Sachs… Not Goldman Sachs. <\/line><\/p>\n

\"large\"Jamie Dimon, JPMorgan Chase. Jamie Dimon\u2019s the CEO and he is under investigation for something. He requested a meeting with the attorney general and got it, and everybody said, “What the hell is this? Who under investigation gets a private meeting with the prosecutor?” Then when you add to it, what are the odds that when this regime is ended, where is Eric Holder gonna go? Where do you think Eric Holder\u2019s gonna go? Do you think Eric Holder\u2019s gonna become a Wall Street lawyer? I do. And what happens to a Wall Street lawyer? He\u2019s gonna make lots of money. That\u2019s gonna be one of his payoffs. <\/line><\/p>\n

There\u2019s some people saying, “Well, how in the world did Jamie Dimon finagle this?” A private meeting with essentially the prosecutor, the attorney general, when I think he\u2019s subject to fines right now of, what is it, billions or millions? Yeah, it\u2019s 12 or 13. I just don\u2019t remember what the size of the fine is. But what\u2019s actually happening is that he\u2019s being shaken down, like all these other big mortgage banks, they\u2019re gonna have to — (interruption) Billion, did you say? With a B? Okay. So JPMorgan Chase is being shaken down $13 billion, and he has a meeting with Holder. He asked for it and got it, and that\u2019s just the latest one. <\/p>\n

But this is the shakedown, this is how these guys are all having to pay off or give something in order to stay liquid, viable, if you will. It\u2019s such cronyism. It\u2019s way above our pay scale, folks. It\u2019s way above that. But Willie here is exactly right. He wants to know, okay, they\u2019re pumping $85 billion a month essentially into securities, quantitative easing, spending. That\u2019s why Wall Street continues to skyrocket when the rest of the economy is stagnant, and it\u2019s a legitimate question. Who\u2019s getting that money and how do they get it? And where\u2019s the commission on that money, who\u2019s getting the 1% fee for this? They\u2019re all legitimate questions. Willie, we will endeavor to find out. <\/p>\n

But a lot of these banks, BOA, Citi, Wells Fargo, have all had to pay fines in the tens of billions of dollars. Going back to the subprime mortgage crisis. They do it, they pay off to get the government off their back. It\u2019s almost exactly like the way the subprime thing started. “You will make these loans to people who cannot afford them, pay em\u2019 back, or we will investigate you.” That\u2019s what Janet Reno told \u2019em back in the nineties, and that\u2019s how it all got started. And then they keep recycling these penalties. It\u2019s a way of getting really rich without having to work, is what it boils down to, something the left has perfected, folks.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Folks, this whole QE3, QE infinity, this whole arrangement, you could almost characterize it as blackmail, in a sense. Let\u2019s look at Jamie Dimon, who runs JPMorgan Chase. In the financial crisis they took over, I think it was Countrywide and Bear Stearns, to keep them from going belly up, like Lehman Brothers did. The government were content with Lehman Brothers going south because apparently a lot of people didn\u2019t like Dick Fuld. After that they wanted to save these things. Jamie Dimon, they go in there, and he takes over Countrywide and Bear Stearns under the premise that they\u2019re saving the financial markets. <\/line><\/p>\n

And now Dimon and JPMorgan Chase are facing penalties and fines of $13 billion for supposed violations of mortgage and banking regulations and so forth. Once you take the money, they\u2019ve got you, and they couldn\u2019t refuse it. Paulsen dragged everybody, all these bankers, even the Wells Fargo guy, said, “I don\u2019t need a bailout. I don\u2019t want any money.” Doesn\u2019t matter, you\u2019re coming into that room, and they were not allowed out of that room until they signed an agreement to take, I forget what the amount of money was, but it was bailout money. It was part of TARP, of which there\u2019s still some unspent money, by the way. And remember what a crisis we were told it was. <\/p>\n

Because of all of this, a lot of these financial houses said to hell with this, and they\u2019re trying to get out of the mortgage market. And another thing, with all of this QE whatever it is, that\u2019s one of the ways they\u2019re keeping interest rates at practically one half of 1% or 1%. That\u2019s how they\u2019re artificially keeping interest rates low, and lenders can\u2019t make any money at 1%. Mortgage lenders or any other kind of lenders. <\/p>\n

So in the midst of this they\u2019re propping Wall Street up with this QE3 business and you watch. The next time the Fed meets and if they release the minutes of the Fed meeting and if there\u2019s any talk that\u2019s reported about QE whatever ending, you watch what happens to the market that day or the next day. The bottom will fall out. We\u2019re now creating addicts, financial addicts. And the moment the money is threatened to be taken away it\u2019s gonna be hell to pay. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Willie in Cuba, Missouri. Great to have you on the program. Hi. CALLER: Thank you, sir, and mega truck-driving dittos. I had a question on this $85 billion a month that the Obama administration\u2019s putting in our stock market. RUSH: Yeah? CALLER: There\u2019s gotta be a brokerage house running that for \u2019em. How much […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nThe Wall Street-QE Connection - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/31\/the_wall_street_qe_connection\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"The Wall Street-QE Connection - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Willie in Cuba, Missouri. Great to have you on the program. Hi. CALLER: Thank you, sir, and mega truck-driving dittos. 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