Are Big Banks Still Getting Bailed Out?

[wkmac]

Open-Ended Bailouts Are Continuing

We’ve previously documented the fact that bailouts of the big banks are continued in stealth mode up to the present day.
True, the banks claim they’ve repaid the Tarp bailout funds … but nearly half of the banks “repaid” such bailout funds by borrowing from other government bailout funds (and the rest could only repay money by fudging their accounting and using stealth bailouts which are are a little harder to detect).
Indeed, the government has decided on perpetual bailouts for the too big to fail banks.
Some of the ongoing stealth bailouts include:

• Obama’s erroneously-labelled “jobs” act (and see this, this and this)

• The mortgage settlement (and see this and this; indeed, settling prosecutions for pennies on the dollar is always a backdoor bailout)

• Interest rate swaps

• The Transaction Account Guarantee program, an extension of FDIC insurance coverage to all transaction balances

• And the fed is going easy on the big banks in many other ways as wells

But the biggest ongoing bailouts include interest rate spreads, interest on excess reserves and other constant streams of bailout revenue:
There are so many rivers and streams of bailout money going to the big banks, I will start with the specifics and end with broader monetary policies.

read the rest at
Big Banks Continue to "Suck at the Government" With Never-Ending Stealth Bailouts

 

[menotyou]

 

[Babagounj]

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.

 

[bbsam]

View attachment 6774

Is that Moreluck?!

 

[UpstateNYUPSer(Ret)]

Yes and the dog, which is a hybrid flown in from Philadelphia and most certainly not from a shelter, is TOS.

 

[menotyou]

Yes and the dog, which is a hybrid flown in from Philadelphia and most certainly not from a shelter, is TOS.

Ok. If this is the new and improved Upstate, I am impressed.

 

[UpstateNYUPSer(Ret)]

Ok. If this is the new and improved Upstate, I am impressed.

You make me want to be a better man.

 

[curiousbrain]

You make me want to be a better man.

Are we ... are we live at the Fillmore? You're killing it tonight.

 

[menotyou]

I think Upstate might be in "like" shock.

 

[bbsam]

Are we ... are we live at the Fillmore? You're killing it tonight.

Either that or a "red light district" with Upstate having buyers remorse.

 

[UpstateNYUPSer(Ret)]

Either that or a "red light district" with Upstate having buyers remorse.

I don't have to go there anymore now that Stephanie is 2.8 miles away.

 

[menotyou]

I don't have to go there anymore now that Stephanie is 2.8 miles away.

Hey!!! I thought she was 2.8 miles from me?????

 

[bbsam]

I don't HAVE to go there either. It's a CHOICE.

 

[bbsam]

Hmmmmm. Menot and Stephanie. Me likey.

 

[Brownslave688]

This is no ones fault but our own switch banks people it's not that hard.

 

[menotyou]

Hmmmmm. Menot and Stephanie. Me likey.

Me Likey you Likey.

 

[wkmac]

We have always been a nation of free enterprise. It has set us apart from most others and allowed us to lead the world in innovation and entrepreneurialism. But today, those underpinnings of our success are under threat. Government has become a behemoth that is overtaking industries and distorting markets in such a way that competition and self-reliance as we know it are barely recognizable.
The reauthorization of the Export-Import Bank is a case study in Washington bureaucrats picking winners and losers and interfering with the free market. It's corporate welfare that is hurting economic growth and costing our nation jobs in one of the most stagnant economies in American history.
The Ex-Im Bank was a New Deal program founded in the mid-1930s to assist with the export of American goods. Among other things, it provides loans using funds backed by the full faith and credit of the American people. This means Joe and Jane Taxpayer are responsible for the bank's activities.

Taxpayers fund Crony Capitalism

 

[wkmac]

And truth be told!