Posted on 07/27/2012 11:45:40 AM PDT by Kartographer
Much has been made about Barofsky's criticism of Treasury Secretary Tim Geithner, who told CBS News he is "deeply offended" by how he's portrayed in Barofsky's book Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street.
Barofsky pulled no punches in our earlier segment about the ongoing rate-rigging scandal. (See: "I Hope We See People In Handcuffs": Neil Barofsky Weighs in on LIBOR Scandal)
In the accompanying video, we focused more on TARP's failings to live up to its promise to help individual Americans, not just the big banks.
(Excerpt) Read more at finance.yahoo.com ...
“TARP was sold to Congress as a financial aid to the foreclosure crisis.”
Absolutely incorrect. It was sold as being a backstop to bank losses on the toxic mortgage assets and associated derivatives. The democrats and Pelosi tossed in all the foreclosure and other program stuff.
Banks don’t need any help demonizing themselves they are doing just fine. Another day another scandal.
Is the FED not in essence a bank, if that is so, it is the only bank that can print money, why is it printing money? because is does not have any. It dilutes each dollars value with every dollar it prints, stealing from your savings to prop up it’s bottom line!
Where exactly in the US Constitution is Congress authorized to bail out any business? Article and Section if you please.
Why do you feel the Fed needs to prop up it's bottom line?
Who said they were?
You did, just before the owner of this fine forum gave you a richly deserved vacation.
I did? Link?
Still no proof?
That’s a shock.
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