It was bad enough that banks took money from the Feds, lent it back in the form of T-bills and government bonds, gave back the principal and kept the taxpayer funded interest as profit. Now it appears that they also used grant money and low interest loans designed for other programs (like small business development) to "pay back" TARP. I don't see how anyone who calls themselves a Conservative can stand for this. It should be the NUMBER ONE issue of this year's presidential campaign.
Saturday, March 10, 2012
GAO Report: Taxpayers Bailed Out Banks Again
I don't know if I can say I feel completely vindicated, but what I have been telling friends, family members and co-workers for almost three years is turning out to be true. A recent report from The Government Accountability Office (GAO) states a large portion of the money which has been "repaid" in the Troubled Asset Relief Program (TARP) comes from other taxpayer funded programs.
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