FEDERAL BAILOUTS - THIS IS UGLY !!!!!
JAN 6,2009 William Patalon writes: after receiving Hundreds of $Billions of dollars in Tapayer-funded Federal Bailout money,the biggest U.S. Banks say they can't track how that money is being spent. Some of the Banks are outright REFUSING to discuss the matter, a new study has found.
As an ongoing Money Morning investigation has demonstrated, ($Billions in U.S.Bank rescue funds are financing Buyouts Worldwide) instead of Lending at Home. Some of these Buyouts deals are being done in Markets (as far away as China)
Money Morning was one of the first news organizations to really examine how TARP Money was being misdirected, and (wasn't being deployed as originally intended).
For instance,when Kevin Heine, a spokesman for Bankof New York Mellon Corp.(BK) - Which received about $3 Billion in TARP Money - was asked how the institution was using the emergency infusion, He Replied by stating that "WE have not Disclosed that to the Public. WERE DECLINING TO."
The words varied, but the basic message was the same from one Bank to another.For instance,Barry Koling, a spokesman for SunTrust Banks Inc. (STI), the Atlanta, Ga.- based Lender that received
$3.5-Billion in Taxpayer Cash told the wire service that "We're Not providing Dollar-In, Dollar-Out Tracking."
Some Banks actually admitted that they simply didn't know where the Money Was Going. YET - WE HAVE INDIVIDUALS SUCH AS (CAVUTO of FOX - WHO TELL US THAT OUR FINANCIAL PROBLEMS STEM FROM THE (GREEDY PEOPLE - WHO HAVE WORKED DECADES TO FINANCE THEIR SOCIAL SECURITY RETIREMENT)
CAVUTO won't blame the NEVER ENDING WARS, OUR TROOPS IN over 140 COUNTRIES, Hundreds of $Billions in Foreign Aid, And these Bank bailouts - actually ($Trillions of Dollars) not only to our Country, but the Banks of Europe, Asia and South America. Plus having over 30 Million Illegals in this Country - continuing to help Bankrupt our Country.
Wake up People !!!!!
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Bank Bailout
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