Think of it as buying yourself a Xmas gift, America.
It's about time you received a gift.
"$30b set aside for small firms; Obama administration plans to use bailout funds to stimulate lending" by Martin Crutsinger and Daniel Wagner, Associated Press | December 19, 2009
WASHINGTON - The accounting shows how fast and effective the bank bailout programs have been, even as efforts to aid other parts of the economy have languished.
It underscores a criticism of the government’s rescue effort: that it focused too much time and money on Wall Street while many Americans faced joblessness, tight credit, and foreclosures.
The TARP program has been attacked as a bailout for Wall Street, allowing big banks to reap huge profits and lavish executives with bonuses....
Another insulting cheap gift from banksters.
What a bunch of bastards!
"Bank repays full $45b TARP tab; Debt paid with cash on hand and sale of securities" by Ieva M. Augstums, Associated Press | December 10, 2009
CHARLOTTE, N.C. - Bank of America Corp. said yesterday it has repaid the entire $45 billion it owed US taxpayers as part of the Troubled Asset Relief Program.
Bank of America, which announced its agreement with the US Treasury to repay TARP last week, funded the repayment through a combination of cash on hand and the sale of $19.29 billion of securities that would convert into common stock. The stock increase remains subject to shareholder approval....
Repayment of the funds frees the Charlotte, N.C.-based bank from the government restrictions that have hampered its search for a new CEO, including executive pay limitations....
Yeah, they are somehow trying to say you have benefited from borrowing against taxpayer dollars to fund billions in bank bonuses and profits.
At least it came in a nice shiny wrapper, huh?
