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Old 03-13-2012, 04:29 PM
 
29,409 posts, read 20,599,903 times
Reputation: 5445

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The ponzi scheme rolls on............
Banks are paying back taxpayers money provided to them under the Troubled Asset Relief Program (TARP) rescue fund by borrowing from the government itself.
Of the $414 billion in taxpayer money lent out under TARP, some $120.7 billion remains outstanding, the Washington Post reports, citing Government Accountability Office data.
However, money settling accounts in one area of the government is opening up fresh liabilities in other government agencies.
“It turns out that over 130 bailed-out institutions paid back their TARP money simply by taking out loans from yet another government program, suggesting that the government — and taxpayers — actually haven’t gotten paid back yet,” the newspaper reports.


Washington Post: Banks Use Government Loans to Repay TARP

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Old 03-13-2012, 05:44 PM
 
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Obama!
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Old 03-13-2012, 05:51 PM
 
23,836 posts, read 21,637,698 times
Reputation: 9398
Exactly as you said, One Big Ponzi scheme. In fact, the entire US government is One Big Ponzi Scheme.
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Old 03-14-2012, 12:14 AM
 
8,483 posts, read 6,479,665 times
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All part of keeping profits up instead of normal free market at work. I mean the US taxpayer is so on the hook for so much crap. It is truly criminal. There is stuff all over the place. Don't forget this one either.

Bank of America Deathwatch: Moves Risky Derivatives from Holding Company to Taxpayer-Backstopped Depository « naked capitalism
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