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Songs from my band (Avant Garage)

WIKILEAKS: Donna Brazile - "I think people are more in despair about how things are—yes new jobs but they are low wage jobs."

Has anyone else noticed there have been weird things happening on the Internet today

HERO POLICE OFFICER Dashcam video shows Texas officer helping boy who had seizure

Bad Hombres -- Nasty Women

Leaked Emails Prove That A Shadow Gov Rules: Hillary Aims to “Make Soros Happy”

Unrest and Martial Law? Leaked Military Drill Anticipates “No Rule of Law” After Election Results

Air Force Maj. Harold Hering - An Unsung Hero of the Nuclear Age

American Psycho: Sex, Lies and Politics Add Up to a Terrifying Election Season

“Most serious” Linux privilege-escalation bug ever is under active exploit (updated)

The Hawk on Russia Policy? Hillary Clinton, Not Donald Trump

Frank Gaffney: Clinton, Obama Have Given Us ‘Much More Dangerous Kremlin and Putin’

Back to Videos Jill Stein: Trump Is Less Dangerous Than Clinton; She Will Start Nuclear War With Russia

Hillary Clinton: America's Most Dangerous Enemy Within

Pentagon: Hillary Clinton Should Be Arrested For Leaking Top Secret Nuclear Intelligence on National TV

Loose Nukes

Clinton's debate reference to nuclear response rekindles judgement questions

WIKILEAKS: "We have a suprise in store for @TimKaine and @DonnaBrazile"

Maybe I'll get divorced soon

WIKILEAKS: Re: FYI CGI Africa [Huma: She created this mess and she knows it.]

Hillary Clinton Whisper Dozen Ear Piece 3rd Debate

Clinton-Trump III - D.C. v. Heller [RKBA]

Clinton-Trump III - D.C. v. Heller [RKBA]

Project Veritas Proven Right by CNN Video

RE: Tax hit for Chris Hayes

I think Trump just made a mistake in hs speech

Ecuador says it disconnected Julian Assange’s internet because of Clinton email leaks

Politicians Should Try Drugs—and Honesty

General Cartwright is paying the price for Hillary Clinton’s sins

WIKILEAKS - Re: Proposed Final for Infrastructure Memo

On the Debate

WIKILEAKS - Millenials Poll [Voter registration]

WIKILEAKS - She doesn't seem to know what planet we are all living in

CNN cuts satellite feed as soon as WikiLeaks is mentioned by Congressman Collins

The Missing "Oh Shit" Link Revealed: Hillary Admits "I Asked That They Be Deleted"

Judicial Watch: New Emails Show Hillary Clinton Contacts with Bryan Pagliano – Raise New Questions About Her Sworn Testimony

WikiLeaks Show Rothschilds Grooming Clinton for Presidency — Months Before She Launched Candidacy

WikiLeaks’ 10 Most Damning Clinton Emails that Prove Mainstream Media is Scripted & Controlled

WIKILEAKS - Re: Response to Gowdy Comments

Hillary Clinton’s “Sudden Move” Of $1.8 Billion To Qatar Central Bank Stuns Financial World

LOL All The Cable Pre-Dabate Banter

At 90, Chuck Berry back to rock 'n' roll

Cops Have a Database of 117M Faces. You’re Probably in It

Hillary Fixer Breaks Ranks: I Arranged Sex Trysts For Her — With Men & WOMEN

Michael Boldea on the Presidential Race

Obama’s half-brother will be at Vegas debate cheering for Trump

Aleppo The Worst Humanitarian Disaster Since WWII? Not So Fast, Mr. Kerry

Naked Hillary Clinton statue appears in NYC, draws angry opposition (NSFW)

Rubio Calls Out Dem Congressman For Groping Woman [VIDEO]


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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: 1120
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.

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#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


“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  

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