How many know this ...

free2beme

Everyone is still out there making comments about the bank bail outs and hating these 'big' banks. However, how many of you know that ALL the banks paid back the TARP money with millions in interest??? Be honest, do you know of any stories in the news that explained and showed this? Did you also know, that the large banks were not given an option to take this money? Many of them tried to pay it back early and were not allowed to, in order to increase the amount of millions the banks would pay in interest. I just bring this up, as so many 'educated' people are completely 100% unaware of this point.

darthfader

Yes, the banks paid back the initial TARP. But.... ( a big but here...) The federal reserve has kept the interest rate at 0% -- this allows the banks to borrow from the fed at 0% and loan the money back to the federal government at the going rate of 1.5% -- so they've been getting income off the cheap Fed rates that makes the TARP funds pale in comparison.

free2beme

Why is it a sin to make a profit? I thought a free market system encouraged this?

Berengaria

Where did you hear this? Why don't more people know?

tarsus

Yes and so has the auto industry. In fact Ford never took any bail-out money at all.

free2beme

Another thing about banks, that few people know. The government took away one of there most profitable fee, none suffiencient funds fees. Felt it was unfair and made it nearly inpossible to charge. What is amazing, the only people who paid these were people who did not balance their check book. Yet, these same people are supportive of a government who has not done this in decades.

Does it seem odd, that they had to get approval?

How many know this ...

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