TARP WAS JUST TROUBLE »
Posted By LADYSMITH 10 months, 2 weeks ago in Political NewsThe purpose of monies given to banks was not to aid individuals seeking to secure loans. This would aid the government in nationalizing the banking industry. Davis went on to say in his talk that while government officials marketed the program as a way to entice banks to lend again, TARP actually was designed to give solid banks like U.S. Bancorp some extra cash to buy weaker banks in the system. U.S. Bancorp did just that late last year when it acquired the assets of two failed banks in California, Downey Savings and Loan and PFF Bank & Trust.stry.
Read Full Story at twincities.com »
84 Views Share Story 0 Comments Report
Add a Comment
Sign In With Your Propeller Account
Please keep your comments relevant to this story.
To create a live link, simply type the URL (including http://) or email address and we will make it a live link for you. You can put up to 3 URLs in your comments. Line breaks and paragraphs are automatically converted — no need to use <p> or <br /> tags.