Big Banks Continue to Suck at the Government Teat With Never-Ending Stealth Bailouts
March 24, 2012
Open-Ended Bailouts Are Continuing
We’ve previously documented the fact that bailouts of the big banks are continued in stealth mode up to the present day.
True, the banks claim they’ve repaid the Tarp bailout funds … but nearly half of the banks “repaid” such bailout funds by borrowing from other government bailout funds (and the rest could only repay money by fudging their accounting and using stealth bailouts which are are a little harder to detect).
Indeed, the government has decided on perpetual bailouts for the too big to fail banks.
Some of the ongoing stealth bailouts include:
Obama’s erroneously-labelled “jobs” act (and see this, this and this)
The mortgage settlement (and see this and this; indeed, settling prosecutions for pennies on the dollar is always a backdoor bailout)