Mafia Elections
Posted by Headbull in Showcase, Uncategorized Monday, 11 October 2010 12:43 No Comments
Great read in the WSJ today, in Opinion. Something the Headbull has written about in the past – Mafia style election tactics or “Shutting Up Business.”
Your tax dollars at work, people. Using the government to bully, coerce and otherwise attempt to discredit whenever things don’t go your way. Wish I had that kind of power, I would make my mail person deliver all my mail just to me, and not to half the neighborhood. If the IRS can be used as a club, what else can happen? What about those businesses that didn’t want or need to accept TARP funds?
Yet despite these numbers reported to the FDIC in October 2008, our leaders told us our financial system was about to collapse and that we needed to give Bank of America $45 billion, Citigroup $45 billion, JP Morgan/Chase $25 billion, and Wells Fargo $25 billion in TARP funds just to survive. By the way, that is a total of $140 billion in TARP funds when the same banks were reporting Equity of $500 billion, non-performing assets of $75 billion, and annualized net income of $30 billion.
Go figure, but based upon the above, is it any wonder that the “banks too big to fail” managed to pay back their much needed TARP funds within a year—after finding out, of course, the penalty they were having to pay for accepting the TARP funds in the first place? I might also mention that these banks managed to make these paybacks even while the housing situation in America continued to deteriorate as unemployment rose from 6.1% in October 2008 to above 10% a year later. ”
Read more: http://www.businessinsider.com/tarp-great-depression-2010-10#ixzz124UxPYtF
