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BofA to Receive $15B in New TARP Money

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posted on Jan, 15 2009 @ 01:58 PM
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Well the leaching of America tax payer just can not stop. Now our economy is fix to keep bailing out financial institutions as they are becoming a bottomless pit of waste money.

BofA needs more money while they are asking for 15B of tax payer money they are looking into up 200B.

Then there is Citicorp failing also, and so the house of card keeps falling again more tarp money is needed.

When this is going to stop

Is this the new trend of what America has become? a nation of bailing out to keep financial institutions working?

What a joke.

www.foxbusiness.com...

BofA used some of the original tarp money they took to invest in China I can not let this one go, now they want more money.

If this is not corruption I wounder what else to call it.

[edit on 15-1-2009 by marg6043]




posted on Jan, 15 2009 @ 02:27 PM
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I agree with you totally.

It seems like B of A and select others have been preselected if you will to survive this current crisis. NWO anyone?

Other banks like National City were denied funds while banks like PNC (bought NCB) were given funds.

I was glad to see the Fox News filed a lawsuit demanding information on how the TARP funds have been spent so far.

TARP is clearly out of control and should be eliminated at once.

Issuing the money directly to the tax payers would have had more economic impact than the BS they have pulled to date.

And so it grows. Pelosi and company just laid out an $825 billion stimulus package which will clearly swell to $ 1 trillion when all of the dingleberries get attached to it.

Unbelievable!!!!! How in the hell can it be stopped. Any opposition on the Hill is quickly squashed like a bug.



posted on Jan, 15 2009 @ 02:33 PM
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Just like during the great depression...

They are weeding out the undesirable banks...



posted on Jan, 15 2009 @ 02:35 PM
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I don't get it, this is becoming a bottomless pit of bail out money bring produced from thin air at the expenses of the nations citizens and future.

And still this not working now and is not going to work ever not without changing the game pieces of corruption that has brought our nation economy to its feet.

What in the heck are those morons in Washington thinking!!!!!!

The PNC just gave a bonus to steal brokers from other financial institutions, is this what our tax payer money is been used for?

Now Obama price tag to tax payer is an incredible amount that tax payer would never be able to paid unless we sell our unborn children to become indenture servants to this corrupted financial institutions.

Something is definitely going on in this nation and we need to stop it.



posted on Jan, 15 2009 @ 02:46 PM
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Remember folks.
Obama said that Government involvement is the only way out of this crisis.

Forget about letting unhealthy companies file for bankruptcy. The government has all of the answers.

This is a slow and painful **** you to the people of the U.S. and will eventually have us all dependent on the Fed for our very existence.



posted on Jan, 15 2009 @ 02:49 PM
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I am weirded out. I watched an interview - wish I could remember who was being interviewed and who did the interview, but it was in the MSM - and the guy being interviewed said he was an exec at BofA.

He said that the government had "forced" BofA to take some huge sum - 20 Billion? - but they really didn't need the money. They were trying to figure out what to do with it.

And now they are scabbling for MORE money???

Yep. I'm weirded out.



posted on Jan, 15 2009 @ 03:18 PM
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BoA, even though they bought a China bank, which is prime to make money,... BoA needs additional money because- as they finally found out-

the mortgage companies (say CountryWide)
and the brokerage house BoA assimilated for $50Bn

These two financial houses had so much hidden, off-balance sheet,
Level III toxic derivatives... that was 'opaque' but 'legal' in their business structure--- that BoA has to now engage the CYA strategy
to remain 'solvent and liquid' in accordance with the rules of the Banking


here's the secret the Fed & Treas... and all the banking system is keeping
from the public....
It will take some $500 Trillion to wring-out the toxic derivatives & bogus bonds on mortgage debts to get-back-to-Zero (a theoretical 'start-over' point)


the Fed/Treas/money&creditSystem.... will keep pulling one-tooth-at-a-time, so all us foolish populace cross-our-fingers and have Obama's Hope,
wish for the Free-Market Faith, and believe a systemic collapse will not happen in our lifetime


dream-on



posted on Jan, 15 2009 @ 03:23 PM
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reply to post by St Udio
 


If is going to take trillions of money that is not there to finance the financial institutions blunders and corruption then the Obama bail out is going to cost more trillions of dollar.

Tell me Udio do you see light at the end of the tunnel of debt? because I only see darkness.



posted on Jan, 15 2009 @ 05:37 PM
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The title should read, "China to receive 15 billion in new TARP money."

We are so screwed it isn't even funny.



posted on Jan, 15 2009 @ 06:19 PM
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reply to post by St Udio
 


Don't forget Merryl Lynch too St. Udio. BoA bought them for a share price in the high 20's while Merryl's similar sized competitors were either BK (Lehman) or bought for under 10/share (Bear).



posted on Jan, 15 2009 @ 06:25 PM
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I find it amusing that all these other people are being bailed out and a year or so ago they had a stimulus check to which they wanted to be used to help stimulate the economy. Now it seems they just want to smear the economy, I don't know everyone asking for a bailout seems to be getting one.

..On that last thought I think I shall start my letter to congress. PoisonousPoison Corp. Needs a bailout, because nobody would buy are poison which helps keeps rats and other vermin at bay from your home



posted on Jan, 15 2009 @ 08:40 PM
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