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

MLB approves major change to intentional walk rule

Congressional Republicans Flail and Fail (can't quit loving ObamaCare, illegal aliens, global thievery & skulduggery)

WOLF! WOLF!

White House Fingers John McCain As Media Leak

War Party, Media Trying To Stop Trump-Putin Detente

Huge Immigrant Riots Break Out In Perfectly Safe Sweden

Le Pen refuses headscarf, nixes talks with Lebanon cleric

The Left-Right Paradigm Is Back

Reality Check

In powerful speech, San Diego bishop challenges organizers to disrupt, rebuild ("protagonistas")

Milo Yiannopoulos defends pedophilia and pedophiles.

Facial hair cost possible Trump hire (Bolton) his job claims 'associate' who says president-elect does not like mustaches or beards

Democrats Invoke 25th Amendment, Question Trump’s Mental Health

Florida teen makes special teddy bear to honor fallen officer

The Spooks And The Hacks: Why Do They Hate Russia?

Sheriff Tries to Expose List of 300 Bad Cops, Courts & Union Promptly Block Him

Trump Gets Ready to Pick John Bolton as Advisor

BREAKING : Make France Great Again! Le Pen SOARS in French Polls

BREAKING : Another Trump Promise Kept! 10k New Immigration Officers Coming Soon!

‘PESD’ Is PTSD For Dems Who Can’t Stop Crying Over The Election

Nearly 2 million non-citizen Hispanics illegally registered to vote

New Ping list,2020 The Likely Suspects

Court docs: Dentist had several drinks at his office before hit and run that injured teen

BREAKING VIDEO : Kasich Joins McCain in Defending Liberal FAKE NEWS Media

From auction block to handcuffs: How a local couple was jailed after a legal purchase

BREAKING : Chelsea Clinton Attends Islamic Anti-Trump Protest

BREAKING : Trump Says “You’re FIRED!” to Backstabbing White House Aide

NEW REPORT : #NeverTrumper Katie Walsh is the Source of White House Leaks

John Kelly Signs Powerful Directive to Fast-Track Deporting of Illegals

Shia Labeouf Insane Rant @ "He Will Not Divide Us" Albuquerque New Mexico 2/18/17

A Big Shoe Just Dropped

Leaked Emails: Dem State Leaders Think Obama’s New Organizing Army is ‘Grade A Bullshit’

Lawmakers probe US funding for Soros groups, left-wing causes in Europe

Donald Trump’s Comprehensive Border Reforms Kill Obama’s Pro-Migration Policies

Meet the Depressed host Chuck Todd and John McLunatic/Leon Panetta discuss Trumps incompetence

Rand Paul: Trump’s Just ‘Expressing His Opinion,’ I’m Not Seeing Any Efforts to ‘Limit the Press’

The Dentist Who Injected Semen into Patients' Mouths Tried to Reopen His Clinic in Belize

Dentist indicted on charges of orally raping a male patient while he was on laughing gas

What I learned about Exxon CEO Rex Tillerson after spending a week on jury duty with him

Elderly woman rescued from home after becoming ‘molded’ to chair for nearly a year

How the Media Markets FAKE NEWS to Different Parts of the Country

Observations Concerning the Increase of Mankind

This Grieving Wife Posed For a Heart-Wrenching Maternity Shoot. Then Look Who Shows Up…

For the First Time in Years Republicans Outnumber Democrats

Major Obama Gun Regulation is FINALLY UNDONE!

BREAKING NEW POLL : Voters Trust Trump More than the Media

Cop Fired Over Tirade At Traffic Stop Once Allegedly Threatened To ‘Blow Up’ A School

Pablo Escobar’s Son Reveals His Dad “Worked for the CIA Selling Cocaine” — Media Silent

Trump may not make it four years: Former intelligence operatives confirm “hit job” on Michael Flynn

Liberals now actively protesting in SUPPORT of the police state


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: 1131
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