- Thu Jan 10, 2013 6:46 pm
#323719
http://www.rollingstone.com/politics/ne ... t-20130104
I know that's a ton to read, but it's worth it when you have the time.
Here's some key points:
- The entire premise of the bailouts was a sham, almost no money went directly to help homeowners.
- The TARP loans were often repaid with other loans FROM THE FUCKING GOV'T which had a lower interest rate and none of the strings attached with TARP, watered down as they were.
- The idea that the banks were forced to take the money is bullshit, they were going down in flames.
- Much of the bailout money was parked at the Fed instead of loaned out, where it earned interest, though not much. Still, the idea that we are paying the banks ANY interest on money that is only to ensure their solvency is ridiculous.
- Executive compensation was out of control, even in some cases increasing after TARP.
I know that's a ton to read, but it's worth it when you have the time.
Here's some key points:
- The entire premise of the bailouts was a sham, almost no money went directly to help homeowners.
- The TARP loans were often repaid with other loans FROM THE FUCKING GOV'T which had a lower interest rate and none of the strings attached with TARP, watered down as they were.
- The idea that the banks were forced to take the money is bullshit, they were going down in flames.
- Much of the bailout money was parked at the Fed instead of loaned out, where it earned interest, though not much. Still, the idea that we are paying the banks ANY interest on money that is only to ensure their solvency is ridiculous.
- Executive compensation was out of control, even in some cases increasing after TARP.
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My 1992 SOHC Turbo Hatch
My Youtube Channel: 6th Gear Garage
My 1992 SOHC Turbo Hatch
My Youtube Channel: 6th Gear Garage