Money is going unused

By
Real Estate Broker Owner with Omega

Burning MoneyMONEY IS GOING UNUSED.........TARP that is

Many are doing everything possible to insure their business weathers this economic tsumani we have been experiencing.  If not for our own business, certainly our customers rely on credit to make deals happen.  Some of you may recall then Secretary Paulson's leadership in executing the TARP program switched from dealing with toxic mortgages to shoring up banks so their capitalization would "look good."  

Even though that was not the spirit originally agreed which became THE LAW so we could  tap into our Treasury - TARP was born.  Of course that move has been debated and debated, and beat to death......rightfully so, on Active Rain and most sites that feature economic and real estate news.

It seemed like a simple premise.  Shore up the banks and financial institutions and affordable financing would trickle down to businesses and consumers, and recovery would be reclaimed.  What happened?

The news is starting to pick up like a bon fire.  TARP has become like the friend your parents warned you to stay away from.  Lately, more (banks) than you can imagine are trying desperately to pay back or return in full what was "given" to them.  It has become "The Bad Seed."  Remember the movie?????? Some are crying foul - "Hey they forced me to take it - We didn't need it!!!!!!!"TARPO

Anyway, courtesy of my local paper (the Los Angeles Times) the link below gives specifics of who got TARP and how much - see how much your favorite bank received. 

 

BANKS WHO RECEIVED TARP

 

 

 

 

 

_______________________________________

Active Rainmaker BadgeFred Thomas, III VP, CB

Vice President, Chief Bloggeroligist

Omega Capital Financial, Inc.

_______________________________________

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Topic:
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Location:
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Posts to Localism
southern california real estate agents
Tags:
tarp
money
bailout
economy
credit
homeowners
businesses
banks
financial institutions
active rain
tarp unused
paulson

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Anonymous #1
Anonymous
Anonymous

Great post - thanks for filling us in.  It's a shame these funds of ours aren't going to better use.

March 14, 2009 08:07 PM
Rainer
51,006
Omega Omega
Omega

Bryan - Appreciate you chiming in :)

March 14, 2009 08:16 PM
Anonymous #3
Anonymous
Jane Mutachksy

I saw this article today and what a bunch of jokesters who want to hid while trying to hustle the taxpayers.  That damn TARP was a joke and in addition to Bush, Paulson and their croonies as well as anyone else who tries to support their crap - should be immediately loicked up.  They have brought so much damage to our country.

Jane

March 14, 2009 10:54 PM
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Rainer
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