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27 May 2009

.: watercooler :.

Bank bailout: The greatest swindle ever sold - Salon
The six biggest ways (we know about) that TARP scams taxpayers.

On Oct. 3, as the spreading economic meltdown threatened to topple financial behemoths like American International Group (AIG) and Bank of America and plunged global markets into free fall, the U.S. government responded with the largest bailout in American history. The Emergency Economic Stabilization Act of 2008, better known as the Troubled Asset Relief Program (TARP), authorized the use of $700 billion to stabilize the nation's failing financial systems and restore the flow of credit in the economy.

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Posted by: dimbulb - 5:44 PM MDT
Tags: News  
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