Here is proof of what I say:
"TARP Not Winding Down, It's Warming Up
.... Geithner explained that the money would go back to the general revenue fund, but that the Treasury would continue to be authorized to loan that money out again. Implicitly, Geithner believes that he has the power to treat the TARP as a revolving fund, extending new loans as outstanding ones are repaid...."
They know we are virulently opposed to anymore bank bailouts out here -- which is why they are playing shell games.
Related: Geithner the Liar
Now what the lying, obfuscating, agenda-pushing AmeriKan MSM dance all around it and cover it up.
"10 banks OK'd to repay $68B in bailout funds" by Daniel Wagner, Associated Press | June 10, 2009
WASHINGTON - Ten of the nation's largest banks were given the green light yesterday to repay $68 billion in government bailout money, freeing them from restrictions on executive compensation that they say are making it hard to keep their top-performing executives....
Oh. They didn't do it as a good-faith effort to pay back taxpayers -- they did it so they could loot some more.
All eight banks that took TARP money and last month passed government "stress tests" confirmed they received permission to repay the bailout funds. They are: JPMorgan Chase & Co.,
The list tells you something.
Speaking at the White House, President Obama welcomed the news but said "this is not a sign that our troubles are over - far from it."
Which side of the mouth did that come out of?
Some analysts questioned whether the repayment of TARP money obscures dangers in the broader banking industry. Smaller banks are still saddled with billions of dollars in risky commercial real estate loans. And large banks continue to hold the toxic mortgage-backed assets at the heart of the financial crisis.
Don't you worry about that: Taxpayer Bailouts Never End
More than 600 banks have received nearly $200 billion in TARP money, and 22 smaller banks already have repaid their funds. The 10 banks are set to return money from a $200 billion program the government created as part of the $700 billion financial rescue package.
Sounds great, huh? Like you are being paid back, right, 'murkn?
Now about that EXECUTIVE COMP.
Here is why they wanna get out:
"White House ready to issue pay rules" by Associated Press | June 10, 2009
WASHINGTON - Nearly three months after American International Group bonuses provoked an angry reaction in Congress, the Obama administration is ready to issue new regulations limiting the compensation of top executives at financial institutions that have received government rescue funds.
After the loot has keft the bank, so to speak....
The regulations, expected as early as today, would apply to the 20 most highly compensated employees at financial firms that obtained infusions of $500 million or more in assistance from the $700 billion Troubled Asset Relief Program.
Except they weren't issued that day, and I haven't seen anything since.
The government, however, is not stopping at federally assisted institutions. Treasury Secretary Timothy Geithner and Federal Reserve chairman Ben Bernanke want to give the Fed and the Securities and Exchange Commission greater powers to set compensation guidelines across the financial sector....
Someone just catch a whiff of FASCISM?
It was unclear yesterday how much of its executive pay package the administration planned to detail this week and how much it would include in a broader list of regulatory proposals that President Obama will announce next week.
Oh, that's why it went away; folded into the massive Fed fascista bill.
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And not only are we told the banks will repay, they report when they repay. Nothing like hitting the nail twice woth the agenda-pushing hammer, 'eh?
I think the MSM is tying to advance a point.
WASHINGTON - A key government effort to ease the credit crisis reached a milestone yesterday as 10 large banks, including Boston-based State Street Corp., said they had repaid a total of $68 billion in bailout funds.
Treasury said last week that the banks could begin repaying money they received under the $700 billion financial system bailout known as the Troubled Asset Relief Program, or TARP. The government created the program in October as its flagship effort to address the global credit crisis and teetering financial markets.
Meanwhile, officials hustled to prepare an announcement about the pricing of stock warrants the Treasury holds - a final barrier to the banks’ ending their ties to the bailout program....
Look at this!
They are reporting as if the PROGRAM is ENDING and YOU are being PAID BACK!!!
Do I really have to type lying, distorting, deceptive, obfuscating, agenda-pushing, war-promoting, AmeriKan MSM anymore?
Yeah, you MADE MONEY off this deal, taxpayers!!!
But until the banks can buy back the stock warrants Treasury holds, they remain entangled in a program that has subjected them to limits on executive pay and other restrictions. The banks have chafed against TARP from early on, fearing government-imposed rules could hurt their profits and prevent them from hiring or keeping top talent.
I'm tired of reading that last excuse -- not with all the financial jobs shed. It's just self-justification for looting. That what banks do, too. They are doing it to my state government as I type.
Just another piece of the brainwashing puzzle, 'eh, readers? In AmeriKa you are raised to believe banks are good. You have change as a kid? Put it in the bank they tell you!
The warrants are hard to price because their values will fluctuate along with the banks’ stock prices. Treasury wanted more to unwind the contracts than the banks were willing to pay.
Well, who is holding the cards?
Let the BANK TAKE the LOSS THEN and SAVE the TAXPAYERS' MONEY!
And if the TAXPAYER is BAILING HIMSELF OUT then LET HIM KEEP HIS MONEY -- rather than having GOVERNMENT BORROW ON IT (or print the s***, same effect) from BANKS with INTEREST to be PAID!!!!!!!!!!!!!
And they wonder why we are angry?--
Uncertainty surrounding the warrant sales raises questions about whether Treasury “is getting the best possible price for taxpayers,’’ the Government Accountability Office charged in a report released yesterday....
Oh, so WE ARE GETTING SCREWED!!!!
And yet the TONE of the article is YOU ARE BEING PAID OFF and EVEN MADE a FEW DOLLARS, AmeriKa!!!!!
How can you EVER BELIEVE this MSM PRESS EVER AGAIN!! I don't!
Treasury has said the repaid TARP money will be returned to the $700 billion bailout fund.
Oh, so in the LAST SENTENCE of the PIECE they ALLUDE to the REVOLVING SLUSH FUND of the TARP!!!!!!!
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And if it were being shut down as the liars claim, why would they need this?
WASHINGTON - Herbert Allison, President Obama’s nominee to oversee the $700 billion bank bailout program, won Senate confirmation yesterday to the Treasury Department post. Allison, 65, will replace Neel Kashkari, a holdover from the Bush administration. Allison promised to work to make the program more transparent and share more details with Congress.
How long have we been hearing that? Since the program started?
Getting to be like that Iraq withdrawal talk which is why I'm no longer listening.
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Related: Bailout Loot Used For Lobbying
