Report: Major Banks Profited from Bailout

Report: Major Banks Profited from Bailout

www.democracynow.org

The Huffington Post is reporting a newly released study from the Congressional Research Service bolsters claims that the nation’s largest banks profited off the federal government’s bailout programs by borrowing cash for next to nothing, then lending it back to the federal government at substantially higher rates. The report was requested by Vermont Independent Sen. Bernie Sanders, who likened the loans to "direct corporate welfare to big banks."

(visit the link for the full news article)

I apologise if this has been previously posted. A search has yielded no results thus far. I also apoligise that I am using a source which also used another source. I have been un-able to find the original news article off of The Huffington Post. If anyone can find it please feel free to post it in this thread.
I don't have much to say on this as I am tired, however I would like to state that I while I am angry I also am un-suprised. I am un-suprised that the banks have used public money to profit, money that could have been put to better use.

www.democracynow.org
(visit the link for the full news article)

reply to post by SpeachM1litant


It's been common knowledge for a while though it doesn't make it right..

The banks were given money to supposedly lend out and help build the economy..
Not to buy bonds etc..

Though the WH should have stipulated that when they lent the money..

The Huffington Post is reporting a newly released study from the Congressional Research Service bolsters claims that the nation’s largest banks profited off the federal government’s bailout programs by borrowing cash for next to nothing, then lending it back to the federal government at substantially higher rates.

Gee, those retards JUST FIGURED THAT OUT? At the end of April 2011? Are they freaking serious? And they are calling themselves journalists?

Congress and the Huffington Post are a JOKE... Their next report is gonna be what... BREAKING NEWS : Michael Jackson died ??

i give neil barofsky two thumbs up,,, he's fighting for the people