Tuesday, February 23, 2010

How can that be?

How long ago was it that the top banks were in trouble and needed billions in bail outs.  They also needed billions given to AIG, not to save AIG but to pass through to the top banks.  Now, when the economy is suffering, they suddenly have a lot of cash sitting on their balance sheets.  When the economy is in dire straits they go from beggar status to windfall profits.  Where did the money come from?   They have made so much profit that they have all paid back the TARP money and are paying their top executives really fat bonuses.  And still they need the provision in TARP that if anything else goes wrong a blank check can be filled in with enough zeros to give every man woman and child in the United States a $10,000 bonus.  (It is in there, a provision to facilitate $4 trillion to save the banks again.) 

If anyone has an explanation, tell me.  I need to know, how can that be?

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