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Regional Banks Get Treasury Money


Business  (tags: Bailout, Bailout Plan, Banks, Capital One Financial, Economy, Federal Reserve, Finance, Financial Crisis, Henry Paulson, SunTrust Banks, Treasury Department, Bush, Bernanke, Paulson, Republicans, Neocons, PNAC, bank failures, Business News )

Blue
- 1999 days ago - huffingtonpost.com
MarketWatch: The biggest of the banks were planning on using some of the bailout money to buy smaller banks rather than rewrite loans and save borrowers. They are actually and boldly planning to use taxpayer dollars to finance their Merger and Acquisition



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Comments

Blue Bunting (855)
Monday October 27, 2008, 3:20 pm
Today on npr's Market Watch they said already The biggest of the banks were planning on using some of the bailout money to buy smaller banks rather than rewrite loans and save borrowers. They are actually and boldly planning to use taxpayer dollars to finance their Merger and Acquisition activities rather than what Paulson promised us they would be used for. This goes to show the thinking in the corporate suites hasn't changed at all and is as opportunistic as always. Without our Treasury performing its regulatory role in the administration and monitoring of the 700 billion dollars of tarp funds we will get burned again by the very same people who started this mess. Even fannie mae and freddie mack have been holding back on restructuring loans when they have the money to do it now. Personally I wouldn't lower the loan amount, but it would make sense to convert arms to 30 year fixed loans a a lower percentage rate. This would add a lot of stability into the system while keeping people in their homes at the same time. What tarp shouldn't do is give the biggest banks the ammo to buy up the damaged midsize and smaller banks on an acquisition binge so they can boost their profits and executives bonuses once again.
 

Blue Bunting (855)
Monday October 27, 2008, 7:57 pm
"Paying the Piper, Big Time", and video of Robert Parry discussing the story of how our country has been wrecked.
 

Larry S. (645)
Tuesday October 28, 2008, 12:10 pm
WHY WHY WHY??? WANT TO STIMULATE THE ECONOMY? GIVE IT TO US. 18+ AND BE A TAXPAYER. WE ARE THE ONE'S WHO NEED IT, STOP GIVING TO BIG BIZ WHO WILL GOBBLE UP SMALLER BANKS, ETC... WHO IN THEIR RIGHT MIND WILL BORROW ANYTHING IN THESE TIMES OF UNEMPLOYMENT ETC.? THINGS JUST KEEP GETTING WORSE.
 

Suzanne J. (1)
Tuesday October 28, 2008, 3:33 pm
Is anybody really surprised by this? Really? After all, a snake pulled out of hiding is still a snake. And McCain wants more deregulation! More worrisome, however, is how clear it is that even the democrats in congress want less gub-mint -- better for their personal interests, don't you know.
But, ain't the Internet a wonderful tool for discovering what our Senators and Representatives are up to when we aren't looking all that closely, which is, apparently, most of the time (and, by the way, the ability to research freely is one of the reasons it's important that no corporation ends up owning the Internet and, thereby, limiting our access to the info NOT willingly proffered by the powers that be.)
But I digress. You know, I don't like what I'm reading. It seems to me that a lot of our representatives are representing their own interests, not ours. Check out their incomes, too, while you're at it. Whoa!
Now, these guys didn't start out in Congress, of course, they started out on your Main St. and mine. And, if we don't pay close attention right from the get-go, beginning at home, right now, in our own states, to the machinations of the clowns we we keep electing to represent us in congress ... well, you know the old adage: If Nothing Changes, Nothing Changes. So, I've got some thoughts to run by you regarding what we might do about it in the short term and the long. For example: I'm a democrat from Massachusetts, but I just sent a $20 contribution to the campaign in California for Cindy Sheehan who is aiming to oust our shameless Speaker of the House, Nancy Pelosi. You Go Girl! I also sent the same amount to Dennis Kucinich's campaign, because he is another representative who, believe it or not, elected "By The People" is actually advocating "For The People". There are more reps who are truly concerned about the precarious state of our democracy too, so I'll have to cut back on the size of my donations, because I am not one of the financially flush. So, if you want to donate money, don't be embarrassed to send your $2.00 and $5.00 contributions to support the people who will actually work to defend our constitution. If you're broke, you can probably make phone calls or write letters to local papers as a different way to help. Anything you do is better than nothing. As for tiny amounts of money to pay for advertising and such, just remember, a swimming pool is filled with lots of little drops of water. And never forget that the power to make changes for the people of this country is in our lever-pulling hands and x-marking fingers. We may not have the financial power the banks, corporations, and lobbyists have, but we do have the ultimate power -- voting power, if only we'd use it. Get down to the grass roots and make a stink in your own town about your representatives and/or the lack of people showing up to vote (only a lousy 17% of registered voters showed up at the polls in my city in September). Meanwhile, you've got more power right now than you know. Call your senators and representatives and let them know that unless they put an immediate halt to this acquisition and merger bullshit, you will be using any means of communication possible, including letters to every local paper sold in their jurisdiction, to let your neighbors (their constituents) know they are getting f@#*ed, and the consequences of their failure to act will be reflected in the polls. They have everything to lose. After all, the lobbyists won't give money to someone who isn't in office. Got any other ideas?
 

Blue Bunting (855)
Thursday October 30, 2008, 10:27 am
"Yes, let's give the banks free money with no strings!"

Another bizarre combination of unpredictable circumstances brought to you by the Nobody Could Have Predicted administration.

Heck of a job, Hankie.

 

Blue Bunting (855)
Monday November 24, 2008, 11:01 am



BlondeSense: The nationalization of financial institutions might be a good thing if it leads to the firing and prosecution of these, and other criminals.
 

Blue Bunting (855)
Sunday February 1, 2009, 11:18 am
They u$ed the money to hire foreign worker$ to take American job$ ... and yOU PAID FOR IT!


Bailout Banks Gave The Finger To The AMerican Taxpayers


Banks collecting billions of dollars in federal bailout money sought
government permission to bring thousands of foreign workers to the U.S. for high-paying jobs, according to an Associated Press review of visa applications.


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Yes, the corporate class has no discernible loyalties to our nation, other than knowing where to go for a handout. YOU PAID FOR THEIR VI$A$ to take your job$.
 
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