So When Will Banks Give Loans? The biggest scam in America today!

The dirty little secret Paulson is not telling, now that he got his power he is doing what his masters are telling him to do, all at the expenses of Americas future and the tax payer.

Remember the bail out people? why it was so important for America even if it means putting more burden in the backs of the tax payer?, this money was for financial institutions to be able to get rid of the toxic mortgage default and be able to serve the public with new loans

But that is not what its happening

Paulson has decided that with the money in his power to used he is serving his favorite donors and cronies to use loopholes in the bail to reshape the financial industry to his liking.

Given the way, that is, that Treasury Secretary Henry M. Paulson Jr. had decided to use the first installment of the $700 billion bailout money to recapitalize banks instead of buying up their toxic securities, which he had then sold to Congress and the American people as the best and fastest way to get the banks to start making loans again, and help prevent this recession from getting much, much worse.

In point of fact, the dirty little secret of the banking industry is that it has no intention of using the money to make new loans. But this executive was the first insider who’s been indiscreet enough to say it within earshot of a journalist.

What a scam!!!!!!!!! like I have been saying for a long time, nothing but a scam!!!!!!!!!!!!

Now the powerful banks that are the ones that brought the nation to this mes are able to use tax payer money to make themselves bigger and wealthier buying out other banks in the nation.

Nothing but a consolidation of power for the banking system and we the consumer are still dealing with foreclosures and a frozen market, and an incredible national debt that keeps on growing.

Where is the mob when we need it marching into Washington to force the good for nothing congress to start fixing the mess they have created giving away powers to Paulson, nothing but traitors in our nations government.

www.nytimes.com...

www.economyincrisis.org...

I think this says it all . . . to use the taxpayer's money to grow their business . . . line their pockets . . . build their nest eggs.

“What we do think it will help us do is perhaps be a little bit more active on the acquisition side or opportunistic side for some banks who are still struggling. And I would not assume that we are done on the acquisition side just because of the Washington Mutual and Bear Stearns mergers. I think there are going to be some great opportunities for us to grow in this environment, and I think we have an opportunity to use that $25 billion in that way and obviously depending on whether recession turns into depression or what happens in the future, you know, we have that as a backstop.”

Unbelievable.

Makes you want to puke up the 49 cents worth of tuna you split with the missus last night in an attempt to stretch out a few bucks.

Un-freakin'-believable.

How does one "unsubscribe" from this horriffic crime while maintaining the ability to remain a free citizen of the US?
I don't trust any of those dudes to do what's right...
The opposition to these tasteless policies aren't fighting hard enough, in my opinion.
This "democracy" is a complete joke on us..."free"...to be slaves...

you expected any different from the federal reserve and there buddies, I yelled and screamed this to my reps , but they still passes the damn bill.

Lesson I learned a long time ago , anything the government or the fed reserve says is absolute gibberish.

Did we really think that this would be used in any way shape or form to help the people? That is why so many people were outraged and didn't want it to pass. These idiots got us into this, why would they want to get us out of it? One last fleecing before they go... ya know?

I long for the good old days when that man and a few others would be tarred and feathered and sent on their way out of town.

Who really thought, given these business people's record, that the money would be used to benefit the taxpayer. Taxpayer benefit would have been not giving the money.

The sad thing here is that our representatives actually believe the stream of yesterday's digestings that flows from their mouths.

The mark of a true liar is one who actually believes their own bullcrap.

We should brand them all with a big old l on their foreheads . . . physically scar them for life in the same manner they're financially scarring all of us.

Well as its obvious that the 700 billion bail out is doing nothing that was expected and what Paulson and its cronies sold to congress is no even close as what the money is been used for,

we the American people demand a Refund of our tax payer money

This what so far 700 billion has done in the hands of Paulson.

$250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.

Instead banks that are the biggest getting the bail out are buying the small banks that can not get loans from the biggest banks and defaulting, the biggest banks control the money.

Three weeks after the bail out and not help in site for any of the foreclosure homeowners in the nation

Instead the several new offices sprouting from the big office of the treasury department to handle the bail out are still hiring and setting outrageous pay for their new employees.

Meanwhile millions of America already are to lose their home or lost it already to foreclosures.

The main reason for the bail was to buy toxic mortgage default

Instead Paulson is buying assets on healthiest banks ignoring the main reason he asked for the bail out and powers to congress.

I wonder for whom he is investing the tax payer money?

This is what the bail out money is buying around this days

Sure enough, a day after Dodd, D-Conn., made the comment, the government said that PNC Financial Services Group Inc. was approved to receive $7.7 billion in return for company stock. At the same time, PNC said it was acquiring National City Corp. for $5.58 billion.

So Paulson no longer have in mind the so call trouble assets buy out and the helping of the homeowners in America he is investing at will and giving away money to those that he considers worthy of the give away.

At the same time he is hiring some of those that he is giving away money too.

the Treasury hired the Bank of New York Mellon Corp. as “custodian” of the troubled assets purchase program.

In the same day Paulson gave them 3 billion dollars to invest.

It most be fantastic to be Paulson's friend this days in Washington while he holds a blank check at the expenses of the tax payer in the nation.

www.freep.com...


[edit on 28-10-2008 by marg6043]

[edit on 28-10-2008 by marg6043]

I knew this stunk right from the beginning. I am not surprised but still infuriated.


Anyone care to compose a letter to our reps?

Originally posted by nixie_nox
Anyone care to compose a letter to our reps?

Not to sound disrespectful, but do you think a letter would do anything much considering all of the emails and other forms of correspondence sent to the congressional and senatorial representatives prior to passage of the 'rescue' bill.

That being said, what else can we do about this? Seems apart from liberating our money from the government using whatever means possible, we're stuck exactly where we're planned to be stuck . . . up the creek, no paddle in a leaky canoe with no lifejacket because all our dough went to those the governement decided deserved the leak-proof canoe, the lifejacket 'just in case' and a hefty motor to strap on to the canoe so they don't have to break a sweat to get out of these troubled waters.

The banks will start loaning money when the fed buys up all the junk....

Then they can start making more bad loans and repeat the cycle for another big payday. The banks got the fed bent over a barrel and there is no Vaseline in sight.

If you think anyone in congress actually gives a fiddlers' fart about us, check this out . . . .

With a median net worth of $746,000, most members of Congress have a comfortable financial cushion to ride out any recession,"

You can read the rest here, and I strongly recommend that you do.

Somewhat of an eye opener when you see the wealth among our 'elected' representatives.

This is about power. Not money.

As far as my opinion goes, Paulson is just a puppet for the Fed and the international bank cartels that run the planet's economy.

Once the constitutional hand-cuffs were removed from the position of the Secretary of Treasury, we all saw the writing on the wall.

We have completely lost control of our government monetary policy.

I don't know how many of you have scrutinized the legislation which created this situation, but it also determines a 'drop dead' date for oversight. So even THAT concession was a farce.

It's too bad we don't have a president. And most likely never will again. What we'll get is more corporate shills. Because they own the media, the industry, the banks, AND ALL three branches of our 'balanced government.'

The few institutions in this country that could fight back, higher education, the lawyers, and others, are all bought and payed for...

George and Martha, sad, sad, sad .... - What a dump!

I have a friend who made bad financial decisions. Got her credit rating all messed up. Has to rent a house for two years because she had to short sell her previous place. I was flabbergasted to hear she just decided to buy a time share. She's making payments on the down payment for the time share. She can't afford the time share. But she wants the time share, so she should have it, right?

How is this situation with the banks any different?

Immediate gratification. Consequences? What consequences?

reply to post by Maxmars



Money is power . . . and power is money.

Those who have one, have the other.

That's the undeniable truth of the matter, and the crux of our problem. We are being kept from any reasonable expectation to become part of the 'wealthy' on this planet.

I'm afraid that unless there is some sort of great social equalization (which usually comes with a whole lotta death, destruction, disaster, misery, woe and general mahem), it ain't never gonna change.