Lawmakers Grill Bank CEOs About Use of Federal Funds »
Posted By KrazyKorean 8 months, 3 weeks ago in Business & FinanceRecent reports show that banks are continuing to tighten their credit standards, despite receiving nearly $200 billion in TARP funds this year. Following media reports that TARP-assisted banks paid out extravagant bonuses to their executives and held conferences at lavish hotels, Congress and taxpayers, who have struggled to keep their homes and qualify for all types of loans, have demanded to know how the TARP funds were being spent.
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Endoscopy8 months, 3 weeks ago
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ROTFLMOA
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You want to have those banks slow down to a crawl and lose money hand over fist. Foolish person. Democrats caused this mess by having the GSE's like fannie and freddy pass out mortgaged backed securities like they were gold. They were based on the sell price and that was growing. At the same time the CRA and other banking changes cause the subprime loans to soar and then when some could not make payments after the low ARM went up and the principle payments started the foreclosures started. Too many houses ant the bubble popped. crash went the finance industry that held those mortgaged backed securities. The Democrats caused it and then they lecture the beople left holding the bag. What a party. They blame everyone but themselves
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Endoscopy8 months, 3 weeks ago
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That is the liberal method. It never works. Look at Japan. They tried to spend their way out and had severe problems for 10 years and are still struggling through the last of it. The great depression had unemployment stayed at roughly 20% for over 8 years. WW2 fixed it.
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