Remember the TARP bailout" Why sure we fo. We remember Pinnochio standing in front of the cameras and stating that we must loan the wealthiest bankers 800 billion or we would see....well...really high unemployment rates....high foreclosure rates....high bakruptcy rates....a stagnant economy...a deep recession....and possibly a depression.
Just so you recall, the CEO's of these institutions were making 50 to 80 million per annum in annual compensation and their companies were wayyyyy "too big to fail".
Sooooooo....how did the CEO's and their collective crooked companies manage to pay back the government?
It was quite simple really.......just widen the interest rate "spread" on loans vs savings vehicles.
Post bank bailout, the CD rates dropped from 4% down to 1%....while their lending rate remained steadfast at 5% plus.
Collusion anyone?
Conservatives will tout the "sound business practices" in recovering and repaying their debt. But did they? Or was this simply a convenient way of recollecting "taxes" from the most conservative of Americans out there....those that parked their hard earned cash into non volitile CD's?
Hmmmmm?
Well, thank God Pinnochio Bush bailed out the banks 3years ago. The CEO's are making even more yearly comp than they did pre bailout. And the only people that were robbed...were the saving conservatives...that saw their annual annuity shrink from 4$ per annum to 1%
But Pinnochio was right..let's nor gorget...
We averted a great, lengthy recession, the GDP is once again growing it's ass off....bankruptcies are no where near the "highest they have ever been" today......the jobless rate came ping ponging back to 5% or so....and......
Oh wait.....................
Just so you recall, the CEO's of these institutions were making 50 to 80 million per annum in annual compensation and their companies were wayyyyy "too big to fail".
Sooooooo....how did the CEO's and their collective crooked companies manage to pay back the government?
It was quite simple really.......just widen the interest rate "spread" on loans vs savings vehicles.
Post bank bailout, the CD rates dropped from 4% down to 1%....while their lending rate remained steadfast at 5% plus.
Collusion anyone?
Conservatives will tout the "sound business practices" in recovering and repaying their debt. But did they? Or was this simply a convenient way of recollecting "taxes" from the most conservative of Americans out there....those that parked their hard earned cash into non volitile CD's?
Hmmmmm?
Well, thank God Pinnochio Bush bailed out the banks 3years ago. The CEO's are making even more yearly comp than they did pre bailout. And the only people that were robbed...were the saving conservatives...that saw their annual annuity shrink from 4$ per annum to 1%
But Pinnochio was right..let's nor gorget...
We averted a great, lengthy recession, the GDP is once again growing it's ass off....bankruptcies are no where near the "highest they have ever been" today......the jobless rate came ping ponging back to 5% or so....and......
Oh wait.....................
