[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

New form of carbon discovered that is harder than diamond but flexible as rubber

California Travel Ban May Keep Its Schools Out of Final Four, Football Championship

DHS John Kelly: Islamic Terrorists Are Sincere, So Regulate the Internet

What Police State? Undercover Cops Bust Teens for Selling Bottled Water

3600 Yard Shot HCR 375 CheyTac

Brooklyn threesome killer sobs behind bars over girlfriend’s deceit: ‘I threw my life away for a f---ing lie’

Americans Protest As DHS John Kelly Flip-Flops, Backs H-2B Visa Expansion

James Jaeger: New Documentary “Mainstream” on The Globalist Agenda in Movies

Jury awards man $870K after doctor removed the wrong testicle

Why the Government Fails at Welfare

Women can't revoke consent to sex once underway, NC law states

New York judge still rakes in $175K salary in jail

Former nurse suspected of killing up to 60 children

Rand Paul: Insurance should be available for $1 a day

Pro-Trump group to target GOP Sen. Heller over health care bill

Off-duty officer wounded by fellow cop in north St. Louis shootout

VIDEO: Biker Revs Engine, Drives Through Anti-Trump Activists Laying in the Street for a ‘Die-In’

Bernie Sanders Wife Facing Bank Fraud Charges

Ron Paul On "Enemies, Foreign And Domestic" And Liberty

The Over-Criminalization of American Life

Cops Trying to Kill a Dog, Kill Innocent Boy Who Tried to Save It Instead

Dashcam Footage Shows Minnesota Cop's 'Brutal Attack' On Asian Driver

Stevie Wonder: Can’t Say ‘Black Lives Matter’ When Blacks Are Killing Blacks

Robert Mueller Adopts Stalinist Tactics

Glastonbury 2017: Johnny Depp talks of Trump ‘assassination’

Months-Long Forensic Investigation Concludes Seth Rich ‘Likely Killed by Hired Killer’

Pamela Geller: The Coming Civil War

Canadian sniper's bullet flew for ten seconds at speed of 792mph: Soldier even had to account for the Earth's curvature as he killed jihadi from two miles away with shot so powerful it can hit a target through walls

MSNBC Analyst: Supporting Trump Like ‘Hugging A Suicide Bomber’ [VIDEO]

Man fresh out of coma commits suicide after learning Trump is President

Did Votes By Noncitizens Cost Trump The 2016 Popular Vote? Sure Looks That Way

Migrant Who Frequently Visited Kindergarten May Have Given Children Tuberculosis

Tesla car battery production releases as much CO2 as 8 years of gasoline driving

BUSTED: Here’s How Much “Socialist” Bernie Sanders Made Last Year…

Stunning Coverup Maneuver – Obama NSC Move All Intelligence Unmasking Material To Obama Library To Avoid Sunlight…

A ' Replacement Population' Is Taking Place As Refugees Flood Into Italy

Pelosi: I Am a ‘Target’ Because I Am a ‘Master Legislator,’ ‘Politically Astute Leader’

Carrier moving Trump jobs to Mexico

BREAKING: Draft Senate bill will defund Planned Parenthood, replace Obamacare

Germany Raids Homes of 36 People Accused of Hateful Postings Over Social Media

Severed Human Toe Served in Canadian Bar’s ‘Sourtoe Cocktail’ Is Stolen

Republican Lawmaker Wants to Make It Legal to Carry a Gun in Washington DC… But Only for Congressmen

Outrage Grows Over Arrests of Hundreds of Christians in Detroit

Trump in Iowa: President calls for barring immigrants from welfare for five years

Ron Paul Interviews Edward Snowden. Deep State is Discussed and Exposed

Cop On Power Trip Becomes Internet Famous For Arresting Woman Who Said ‘Ass’

CIA Agent Busted Running a Massive Drug Smuggling Operation

Clarence Thomas Attacks Civil Asset Forfeiture, Lower Court Follows His Lead

HIT & RUN BLOG Students Hold Free Speech Events, Get Denounced as White Supremacists

Former CIA Spy Who Carried Out a False Flag Attack Talks About False Flag Terrorism


Status: Not Logged In; Sign In

Corrupt Government
See other Corrupt Government Articles

Title: Big Companies HAVEN’T Repaid Tarp Funds … And Funds to Help Homeowners HAVEN’T Been Paid (Obama rips off the 99%)
Source: ZeroHedge
URL Source: http://www.zerohedge.com/contribute ... 9t-repaid-tarp-funds-%E2%80%A6
Published: Apr 30, 2012
Author: George Washington
Post Date: 2012-04-30 05:07:13 by hondo68
Keywords: a loss of $60 billion, Taxpayers owed $118.5 billion, TARP money goes to banks
Views: 1157
Comments: 1

Apologists for government bailouts push two main myths:

  • That all of the bailout funds have been repaid
  • That the bailouts helped the average American

But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths.

Today, Romero wrote the following to Congress:

After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to be an active and significant part of the Government’s response to the financial crisis. It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost).

And earlier this month, Romero stated that the portion of the Tarp funds which were supposed to help homeowners haven’t been disbursed:

A fund to support homeowners in the communities hit hardest by the collapse of the housing bubble has disbursed just 3 percent of its budget and aided only 30,640 homeowners in the two years since its creation, according to a report released on Thursday by a federal watchdog office.

 

The Hardest Hit Fund, which was created in the spring of 2010, grants money to state housing finance agencies for efforts to help families that are facing foreclosure. It has “experienced significant delay” because of “a lack of comprehensive planning” by the Treasury Department and limited participation by Fannie Mae, Freddie Mac and the large mortgage servicers, said the report by the special inspector general for the Troubled Asset Relief Program.

“Look at the TARP money that goes out to the banks,” said Special Inspector General Christy Romero in an interview with The Huffington Post. “That goes out in a matter of days. This has been two years and only 3 percent of these funds have trickled out to homeowners.”

Indeed, bailing out the big banks hurts - rather than helps - the American economy.  See this, this and this.   (And it doesn't take a PhD economist to guess that using bailout funds to buy gold toilet seats and prostitutes is probably not the best way to stimulate the economy as a whole).

The only way to really stimulate the economy would be for the government to give money to the little guy on Main Street – instead of the big boys on Wall Street.  And see this.

Yet the big banks continue today to be bailed out through a wide variety of overt and hidden schemes … while the little guy gets nothing.

This is true even though the American people were opposed to the bank bailouts from day one, and continue to oppose them:

As I’ve noted since 2008, Americans are united in their overwhelming disapproval for bailouts to the big banks.

 

This has remained true right up to today.

 

As Rassmussen found only last month (as summarized by KXLF news):

Today’s Rasmussen Reports survey finds that most Americans don’t like bailouts for financial institutions.

60% Oppose Financial Bailouts; 74% Say Wall Street Benefited Most

 

Survey of 1,000 American Adults

 

***

 

• Just 20% think it was a good idea for the government to provide bailout funding to banks and other financial institutions, but 60% say otherwise.

 

• While many activists try to link the Republican Party and Wall Street, Republicans think the bailouts were a bad idea by an eight-to-one margin.

 

• Those not affiliated with either major party think they were a bad idea by a four-to-one margin. Democrats are much more evenly divided. Thirty-four percent (34%) of those in the president’s party say the bailouts were a good idea while 42% disagree.

 

• Overall, 68% believe that most of the bailout money went to the very people who created the nation’s ongoing economic crisis, but 12% disagree and 21% aren’t sure.

 

[And see this]

 

As the Washington Post’s Greg Sargent notes, the recent proposal from lobbyists to the American Bankers Association recommending ways to co-opt the Occupy movement accurately stated:

Well-known Wall Street companies stand at the nexus of where OWS protestors and the Tea Party overlap on angered populism. Both the radical left and the radical right are channeling broader frustration about the state of the economy and share a mutual anger over TARP and other perceived bailouts. This combination has the potential to be explosive later in the year when media reports cover the next round of bonuses and contrast it with stories of millions of Americans making do with less this holiday season.

 

(Except that it is the majority of Americans – not “extremists” on either side of the aisle – that share this anger).

 

The “Tea Party” movement was centered on the protesting government bailouts of the giant banks, before it was hijacked by the mainstream Republican party, Sarah Palin, Neocons and others. See this, this, this, this and this.

 

Ron Paul said last month at a GOP debate:

Bailouts came from both parties…. If you have to give money out, you should give it to people losing their mortgages, not to the banks.

 

And one of the most common sayings of Occupy Wall Street protesters is:

Banks got bailed out. We got sold out

(See this and this.)


Poster Comment:

Obama gave all of Joe The Plumber's money to the banks, and the 99% got zip!

Wealth spread, to wealthy campaign contributors. The poor, unemployed, and destitute get a shuck 'n jive story about O'deadbeat killing Osama Bin Laden.

Post Comment   Private Reply   Ignore Thread  


TopPage UpFull ThreadPage DownBottom/Latest

#1. To: hondo68 (#0)

That's correct.

Bill Black: Our System Is So Flawed That Fraud Is Mathematically Guaranteed Tyler Durden's picture Submitted by Tyler Durden on 04/28/2012 09:41 -0400

www.zerohedge.com/news/bi...mathematically-guaranteed

“When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it."

- Frederic Bastiat

mcgowanjm  posted on  2012-04-30   9:36:51 ET  Reply   Trace   Private Reply  


TopPage UpFull ThreadPage DownBottom/Latest

[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com