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Are Big Banks Still Getting Bailed Out?
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<blockquote data-quote="Babagounj" data-source="post: 967034" data-attributes="member: 12952"><p>Taxpayers Stuck With Billions In TARP Losses</p><p>While the Obama Administration laughably claims that its disastrous bank bailout has turned a profit, a federal investigation reveals this week that hundreds of small financial institutions can’t afford to repay the government loans and its costing U.S. taxpayers tens of billions of dollars.</p><p>This week the Special Inspector General for TARP revealed that the monstrous bailout program’s losses stand at about $60 billion and that financial institutions owe Uncle Sam a whopping $118.5 billion. Furthermore, hundreds of small banks can’t afford to repay the federal bailout loans so taxpayers will get stuck with the exorbitant tab, according to the TARP inspector general. Just last month the Congressional Budget Office (CBO) estimated that TARP would lose $32 billion.</p><p>TARP’s IG disclosed the latest figures to Congress in a 330-page report that outlines the bailout’s monumental failures.</p></blockquote><p></p>
[QUOTE="Babagounj, post: 967034, member: 12952"] Taxpayers Stuck With Billions In TARP Losses While the Obama Administration laughably claims that its disastrous bank bailout has turned a profit, a federal investigation reveals this week that hundreds of small financial institutions can’t afford to repay the government loans and its costing U.S. taxpayers tens of billions of dollars. This week the Special Inspector General for TARP revealed that the monstrous bailout program’s losses stand at about $60 billion and that financial institutions owe Uncle Sam a whopping $118.5 billion. Furthermore, hundreds of small banks can’t afford to repay the federal bailout loans so taxpayers will get stuck with the exorbitant tab, according to the TARP inspector general. Just last month the Congressional Budget Office (CBO) estimated that TARP would lose $32 billion. TARP’s IG disclosed the latest figures to Congress in a 330-page report that outlines the bailout’s monumental failures. [/QUOTE]
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Are Big Banks Still Getting Bailed Out?
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