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How could banks have made enough to pay off TARP so early?

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AnArmyVeteran Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-02-10 05:58 PM
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How could banks have made enough to pay off TARP so early?
HOW COULD BANKS HAVE MADE ENOUGH TO PAY OFF TARP SO EARLY?

The TARP bailout is supposedly only about $35 billion away from being paid off by the banks. That means in less than two years the banks who received the government money (our money) made at least $665 billion dollars.

My question: If banks can make so much money so quickly, then why do they pay us only .7% off of the money in our checking accounts or 5% in 401Ks and the like?

Yeah, I know we are ripped off at every turn from businesses and banks, but I didn't realize banks could make that much money while producing virtually nothing for society. They don't produce food. They don't produce natural resources. They don't produce any goods at all. Yeah, some of the money might actually go to businesses as loans, but banks themselves produce nothing, while making obscene amounts of money. They just skim off trillions from the rest of us while producing nothing of value. It's like our money is on conveyor belts going through the offices on Wall Street and the sociopathic thugs in Armani suits grab as much of our money off the conveyor belt as possible. And because they own the government and write the laws this system is 'legal'. LOLOLOL!

Why not just scrap all big banks? Or put limits on the size of banks to say 1 or 5 billion dollars? And force them to be more local. Wall Street is nothing but a cesspool of greedy and sociopathic thugs who have devised a system where they contribute nothing to society, but make more than any other segment in our population. Those who produce the least get paid the most.

An illegal migrant farm worker produces more in one day of picking fruit and vegetables than all of Wall Street produces in their lifetimes. You can't eat credit default swaps or derivatives. But the poor migrant farm worker gets paid virtually nothing while being constantly exposed to dangerous chemicals for 12-14 hours a day, while the fat cats on Wall Street just take, take and take (also read: steal, steal, steal). Those who produce the most get paid the least.

And while the Wall Street sewer system of bankers is working just fine our democratic leaders did nothing to prosecute any of the swindlers, crooks and sociopaths on Wall Street. Not only did they fail to hold any of them accountable, Obama even surrounded himself with the criminals from Wall Street who caused our country to almost be destroyed in the first place. Now, almost 22 months after he was sworn in I can see why. Obama has caved in to every big business he could find, while turning his back to every one of the supporters who worked their asses off to put him in office.

RIP America, if Obama was the last chance for real change then this county is doomed. 'Citizens United' will ensure no future candidate, who is not totally owned by criminal businesses, could ever get elected. The nails are in America's coffin. Someone just needs to hammer them down. Obama and the democrats have colluded with republicans quite well in the past two years to ensure our country will never survive. I can hear the hammers on the nails now.

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