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Banks took federal money to repay bailout
#1
Quote:Some banks used a federal program intended to increase lending to small businesses to circumvent restrictions placed on them by the federal economic bailout, a congressional hearing Wednesday morning revealed.

Congress bailed out much of the banking industry in the wake of the 2008 financial crisis with loans through the Troubled Asset Relief Program (TARP). When this program failed to adequately stimulate lending to small businesses, Congress created the Small Business Lending Fund, or SBLF.

http://freebeacon.com/robbing-peter-to-pay-peter/
It's the "BILL OF RIGHTS" not the bill of "needs"
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#2
middlefinger;98298 Wrote:
Quote:Some banks used a federal program intended to increase lending to small businesses to circumvent restrictions placed on them by the federal economic bailout, a congressional hearing Wednesday morning revealed.

Congress bailed out much of the banking industry in the wake of the 2008 financial crisis with loans through the Troubled Asset Relief Program (TARP). When this program failed to adequately stimulate lending to small businesses, Congress created the Small Business Lending Fund, or SBLF.

http://freebeacon.com/robbing-peter-to-pay-peter/

It continues to amaze me that the taxpayers of this country don't seem the least bit upset that trillions of taxpayer dollars were give to bankers who made irresponsible bets and lost. Last night, I watched some amazing Congressional testimoney in 2010 where people like Kyle Bass clearly explained the problems of leverage in the derivatives markets and yet nothing has changed. All of the major banks are still too big to fail. They are still being given free money through the quanitative easing program and we're all told it's for our own good.

It's simply legalized theft when you take public money to backstop private debts. It pisses me off that thousands of JP Morgan and Goldman Sachs assholes are getting 6 figure bonuses every year paid for from my hard work. You can't have capitalism without consequences for failure.
Deal_me_in, proud to be a member of pa2a.org since Sep 2012.
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#3
Deal_me_in;98560 Wrote:
middlefinger;98298 Wrote:http://freebeacon.com/robbing-peter-to-pay-peter/

It continues to amaze me that the taxpayers of this country don't seem the least bit upset that trillions of taxpayer dollars were give to bankers who made irresponsible bets and lost. Last night, I watched some amazing Congressional testimoney in 2010 where people like Kyle Bass clearly explained the problems of leverage in the derivatives markets and yet nothing has changed. All of the major banks are still too big to fail. They are still being given free money through the quanitative easing program and we're all told it's for our own good.

It's simply legalized theft when you take public money to backstop private debts. It pisses me off that thousands of JP Morgan and Goldman Sachs assholes are getting 6 figure bonuses every year paid for from my hard work. You can't have capitalism without consequences for failure.

I hear you but as long as we have high ranking executives from the major banks in important positions in the government and the FED we are screwed. These banks own us, our government and our country and they intend to bleed us for every penny they can.
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#4
dc dalton;98562 Wrote:
Deal_me_in;98560 Wrote:It continues to amaze me that the taxpayers of this country don't seem the least bit upset that trillions of taxpayer dollars were give to bankers who made irresponsible bets and lost. Last night, I watched some amazing Congressional testimoney in 2010 where people like Kyle Bass clearly explained the problems of leverage in the derivatives markets and yet nothing has changed. All of the major banks are still too big to fail. They are still being given free money through the quanitative easing program and we're all told it's for our own good.

It's simply legalized theft when you take public money to backstop private debts. It pisses me off that thousands of JP Morgan and Goldman Sachs assholes are getting 6 figure bonuses every year paid for from my hard work. You can't have capitalism without consequences for failure.

I hear you but as long as we have high ranking executives from the major banks in important positions in the government and the FED we are screwed. These banks own us, our government and our country and they intend to bleed us for every penny they can.

Agree, that's the plan, I just wish more people were outraged about it.
Deal_me_in, proud to be a member of pa2a.org since Sep 2012.
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