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Sunday, December 13, 2009

Paying back TARP? What About All the Guarantees, AIG Money and Other Money Received

I don't get why everyone is so obsessed with TARP which is the smallest of the money all these financial institutions such as Goldman, Bank of America, Morgan Stanley, and Citibank received. What about all the guarantees by government of all the debt these institutions issued (FDIC guarantee on their debt). What about the other hundreds of billions of dollars of guarantees especially for Citibank and Bank of America? When and how will they pay for those???? They cannot. They are still vastly insolvent. How about Goldman paying back all the money they received for the AIG failure when in fact AIG did not fail??? When will they pay any of that back?? I guess the answer is never. This is mainly because we have Timothy Geithner as the treasury secretary and we have Bernanke and his illegal Fed that should be abolished ASAP as well as a president who talked about change, but that was all BS. Nothing has changed, not even Bernanke or Geithner nor the way the corruption continues.

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