Thursday, July 15, 2010

Did TARP "Make Money for the USTreasury"?

Not according to Barry, who actually keeps track of all those munnies.

TARP itself hasn’t even made money. AIG alone still owes us $75.6 billion. However, they always add the caveat “Other than AIG…” when they say that the bailouts were “profitable“. But the AIG money was DIRECTLY PAID to many of these same banks that “paid back their TARP” at an outrageous 100 cents on the dollar! Mind you, this was done by government officials that were the former employees and current shareholders of the very banks they were helping. Let’s make the banks like Goldman Sachs, Bank of America and Societe Generale pay back the $105 billion of stolen taxpayer money before we let anyone say “TARP was paid back.”

And that's not all.

TARP is actually less than 10% of your tax dollars that have been handed to the banks. And now the banks “paid back” the tiny slice that is TARP with OUR money and you are supposed cheer them for savvy. At this very moment, the taxpayer is still owed $2.02 Trillion dollars for the bailout by our Politicians and Banksters, and that number is growing every day. Never mind the money that these same banks make getting endless 0% interest loans from the Federal Reserve (aka You) while either they lend it back to you at 14% or just lend it right to back the government and pocket the yield.

No, TARP did not make money for the US taxpayer. Don't let that lie sell you on the "benefits" of Fwank-Dudd "reform."

It ain't reform; it's biz-as-usual--meaning that it will cost YOU money and the banks will continue to prosper.

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