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

Samsung SGR-A1 Robot Sentry Shoots Targets from 2 miles away

9 Year Old Boy Slaps His Mom After Finding Her High On Heroine On The Street

Bombshell Emails: White House Coordinated With Department of Labor To Hide Illegal Obama Fundraiser Hilda Solis’ Schedule

President Ronald Reagan Tribute: Rare Footage of Him Speaking the Gospel - Inspirational Videos

Nigel Farage Speaks at Garden Event

World’s first 3D-printed car unveiled in Chicago

Breitbart is here — and his name is Ted Cruz

Scientists turn textbook volcanic eruption theory on its head

Maxine Waters: Americans are Bigots for Opposing Sharia Law

The Witherspoon Institute Public Discourse home | about | archives | contact | support A Tale of Two Fathers: Silas Marner on the True Meaning of Fatherhood

The Illusion of Neutrality The secular state cannot be neutral in matters of religion.

ISIS Strikes Deal With Moderate Syrian Rebels: Reports (You know the ones that Obama is dealing with)

Lod All in all, Is a of low-information, low-IQ, moron. (Posts at freedom4dum explains it all)

Yahoo describes surveillance fight (Obama's Government Threattened Fines of $250,000 per day)

‘Vetted Moderate’ Free Syrian Army Commander Admits Alliance with ISIS, Confirms PJ Media Reporting

Decriminalize, Regulate Heroin, Cocaine, Commission Says

The question is: will Justice Gindburg get a chance to explain her point of view to her Maker? Or, will she just go straight to Hell

Bill Maher absolutely crushes Charlie Rose for comparing Islam to Christianity

Dawkins Becomes a Creationist

The Big Spender

U.S. judge re-sentences Jose Padilla to 21 years on terrorism charges

Chick-fil-A founder S. Truett Cathy has died

Sharpton Feels Up Holder As Jackson Waits His Turn

Shantel Christine Jackson (Floyd Mayweathers Ex Wife) Murdered their twin children by abortion

Netflix buys rights to stream 'Gotham' before it has even aired on TV

Chapter 25 Does Archaeology Support the Bible?

NIH Scientist Martin Rogers Found Dead

Sotloff Family Furious with White House… and The NYT Buried It

Prophet Abraham's lost city found in Turkey's Kilis

Christianity no longer a religion, says Turkish minister

Angry Muslims Attacking Christians, Michigan Cops side with Muslims make chrisians go away

Watch These Nazi Piece of Shit Pigs Strap People Down And Take Their Blood

DNA From This Ugly Fish Is Being Used to Synthesize Bulletproof Slime

Richard Dawkins Deserves To Be Aborted

BREITBART's Coroner MURDERED

Powell Shooting (Cell Phone Camera)

Live CAM From Ferguson I am Mike Brown Live from Ferguson, MO

Here is ... your chance --- to educate us.

that delightful - funny man ... Robin Williams --- has hurt us all.

leftists channel Ronald Reagan ... before an election --- then rule like Chavez.

Bluegrass Version of AC/DC's Thunderstruck by Steve'n'Seagulls (LIVE) (You've Never Seen Anything LIke This)

Hollywood Jews & Israel: The Silence is Deafening

The Obama Fake-out ... is no longer working --- America is PISSED!!!

Gaza Live Cams....Enjoy

Anti-Semitism is Satanic! Everywhere antisemitism is promoted, you are hearing the hiss of the serpent.

Freedom4um a site that supports terrorism? People Joking Around? Serious? Honey Pot?.

Is Sneakypete To Gay To Understand This?

Obama leading in the formation of the Islamic Caliphate!- Prophecy in the News - June 18 2014

Perry Stone Are Islamic Prophecies Pointing To the President

Darius Porter Is Said To Have Beat A Man Senseless


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: 283
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