► Show Top 10 Hot Links

Posts Tagged ‘TARP’

Fowmew MA Congwethman Thwowth Обама Undew The Buth?

by Deplorable Macker ( 4 Comments › )
Filed under Bailouts, Barack Obama, Economy, Headlines at September 15th, 2013 - 6:37 pm

Yep, it sure seems like it: Courtesy of Weasel Zippers!

Fiwtht of all, many of the bankth didn’t want thith money. It’th not that we did it fow them. But thecondly, the fedewal govewnment made money on the advanceth to the bankth. What cost uth money wath the automobile induthtwy bailout. But we made money on the bankth.

Read this through the lisp and speech impediment: BUSH‘s TARP, as bad as it was, made money! I wonder what The SCOAMF have to say about that!

Tags: ,
Posted in Bailouts, Barack Obama, Economy, Headlines | 4 Comments »

Foreign Banks benefited from TARP

by Phantom Ace ( 5 Comments › )
Filed under Barack Obama, Democratic Party, Europe, Headlines, Progressives, Special Report at April 1st, 2011 - 10:42 am

When the Bush administration proposed TARP to prevent the collapse of the American banking system, one of the reasonsthere was opposition was that foreign banks might get bailed out. At the time, Fed Chairman Ben Barnanke denied they would receive funds. Well low and behold, he lied! Not only did Ben lie, he hid this from the public.

U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.

Dexia SA (DEXB), based in Brussels and Paris, borrowed as much as $33.5 billion through its New York branch from the Fed’s “discount window” lending program, according to Fed documents released yesterday in response to a Freedom of Information Act request. Dublin-based Depfa Bank Plc, taken over in 2007 by a German real-estate lender later seized by the German government, drew $24.5 billion.

[…]

“The caricature of the Fed is that it was shoveling money to big New York banks and a bunch of foreigners, and that is not conducive to its long-run reputation,” said Vincent Reinhart, the Fed’s director of monetary affairs from 2001 to 2007.

Separate data disclosed in December on temporary emergency- lending programs set up by the Fed also showed big foreign banks as borrowers. Six European banks were among the top 11 companies that sold the most debt overall — a combined $274.1 billion — to the Commercial Paper Funding Facility.

So we borrowed money from China to bail out Foreign banks! The betrayal of the American taxpayers by the Progressive Bi-Partisan elite continues. Donald Trump is right, the world views us as suckers and takes advantage of us. Ben Barnanke is not only a sucker, he’s a traitor for helping Non American banks, with our borrowed money. They received help and in return, we get an anemic economy.

Tags: , ,
Posted in Barack Obama, Democratic Party, Europe, Headlines, Progressives, Special Report | 5 Comments »

John McCain claims to have been tricked on the Bailout

by Phantom Ace ( 204 Comments › )
Filed under Elections 2010, Progressives, Republican Party at February 23rd, 2010 - 11:00 am

As much as I don’t like John McCain’s collaboration with Progressives on issues, there is no doubt he is a Patriot. However, his patriotism blinds him to the evil and ruthless nature of the Progressives. The Leftist media sang his praises for years, until he won the GOP nomination. Then they turned on him and destroyed him in merciless fashion. McCain under pressure from our former Treasury Secretary and Goldman Sachs crony Hank Paulson, supported the TARP bill. Under attacks from JD Hayworth, he is now claiming he was misled.

Under growing pressure from conservatives and “tea party” activists, Sen. John McCain of Arizona is having to defend his record of supporting the government’s massive bailout of the financial system.

In response to criticism from opponents seeking to defeat him in the Aug. 24 Republican primary, the four-term senator says he was misled by then-Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke. McCain said the pair assured him that the $700 billion Troubled Asset Relief Program would focus on what was seen as the cause of the financial crisis, the housing meltdown.

Read the rest: Sen. John McCain: I was misled on bailout

Personally, I feel this is a flimsy excuse on McCain’s part. Years in Washington have made him embrace Progressivism. His idol is not Ronald Reagan, but Progressive Republican Teddy Roosevelt. It was Teddy who began to mainstream the Progressive Ideology that has been a cancer onto this nation. McCain is just saying this because he’s under pressure from JD Hayworth’s candidacy. Make no mistake, John McCain is a Progressive Republican. Before anyone says he’s tough on National Security, let us also not forget he was a cheerleader of the Bombing of Serbia on behalf of the Saudis/KLA/AL-Qaeda. This opened the door for Islamic expansion into Europe and was a huge win for Islamo-Imperialism by neutering the last Christian resistance in Europe.

I respect John McCain’s service, but I have no respect for his Progressive ideas. He needs to go away, along with the whole GOP elite.

Update: Mitt Romney shows his Elitist colors by endorsing McCain.

Update II: Michelle Malkin calls out John McCain and his support of Progressive ideas.

Tags: , ,
Posted in Elections 2010, Progressives, Republican Party | 204 Comments »