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Monday, May 17, 2010

Government Borrowing From Banksters To Finance TARP?

A few weeks ago, Congressman Paul Ryan had such a problem when GM paid back a government loan that he immediately slapped together a video and a statement to grandstand his concern. Ryan charged that GM (and Obama) was playing a shell game with taxpayer dollars because the loan wasn't repaid with GM earnings. O' shiver me timbers, they had the gall to pay back the money with interest.

In this Comedy Central skit?, Jon Stewart lays out a convincing storyline to explain how Wall Street banksters, specifically TARP recipients, are still reporting huge profits despite a slight downturn in the markets.

Banks Making $5 million An Hour

So the Fed borrowed to Wall Street banksters at zero interest - while the banksters lend it back to the government and charge interest? Yet Ryan, who supposedly is concerned about TARP money, instead slams GM for returning tax dollars to the treasury?
"...treasuries are trading at a huge volume with the U.S. Government seeking so much money to finance TARP" -- Dawn Kopecki, Bloomberg
The sad reality here is Wall Street banksters are outed by a sharp newsman masquerading as a comedian - and everyone ...laughs.

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