AGAIN, AGAIN, AGAIN Banks who took TARP funds are screwing Americans
AMERICANS WERE PROMISED A REWARD FOR SAVING BANKS.
The ruddy BANKING bastards.
- They took the ‘created’ trillions of dollars from the Federal Reserve and the US Treasury,
- they helped stabilize themselves,
- they slowed lending to regular Americans to a standstill,
- they increased credit card interest rates from 8% to 27% overnight,
- they are usurious,
- they still have not properly written down or told the truth about the extent of their exposure to toxic assets, because they don’t want us to know how stupid they were buying mortgage tranches from people who were fraudulently sold mortgages they could never repay,
- they backstab the American public by not letting ordinary Americans speak in Congressional hearings about their abusive usury,
- their CEOs are still taking multi-million dollar salaries (!#?!?!?!?@**!!),
- and, NOW that they’ve had the benefit of the low-cost trillions,
- they want to pay back their TARP loans (which could be seen as being industrious and responsible)
- except that they are again jockeying to screw the American taxpayer out of the fair value of interest on the trillion dollar loans.
The US Taxpayer now owns ‘WARRANTS’ on the bank loans. ONE small bank was able to negotiate with the Treasury (now why is Treasury selling out the American taxpayer???) to buy their warrants for $1.2 million. Problem is, those warrants might be worth $6.9 million!
Here’s an idea:
DO NOT LET THE BANKS BUY BACK THEIR WARRANTS.
Let those warrants sit in Social Security’s coffers, so that if there is any benefit to having bailed out banks, American workers will receive the benefit in their elder years.
Enough with allowing these rich white bankers to get richer at the expense of working class Americans.
No more buy-backs on warrants…
We can stop this by closing our accounts at any bank that took government money. A list is on the Treasury’s Web site. Close your accounts and move them.