Banks Lobby for New Ways to Screw Taxpayers - GoFuckYourself.com

teomaxxx · 05-27-2009, 08:41 AM

Banks Aiming to Play Both Sides of Coin

from The Wall Street Journal
¨Banks Aiming to Play Both Sides of Coin

from The Wall Street Journal
http://online.wsj.com/article/SB1243...ml#mod=testMod

Some banks are prodding the government to let them use public money to help buy troubled assets from the banks themselves.

Banking trade groups are lobbying the FDIC for permission to bid on the same assets that the banks would put up for sale as part of the government's Public Private Investment Program.

PPIP was hatched by the Obama administration as a way for banks to sell hard-to-value loans and securities to private investors, who would get financial aid as an enticement to help them unclog bank balance sheets. The program, expected to start this summer, will get as much as $100 billion in taxpayer-funded capital. That could increase to more than $500 billion in purchasing power with participation from private investors and FDIC financing.

more:
http://online.wsj.com/article/SB1243...ml#mod=testMod

pornguy · 05-27-2009, 08:49 AM

It will honestly never end.
The money grab is 10 times worse now than it was.

efp · 05-28-2009, 05:35 AM

Banks have never been your "friends" or a "service institution" ...

05-27-2009, 08:41 AM	#1
teomaxxx Confirmed User Join Date: May 2003 Posts: 2,734	Banks Lobby for New Ways to Screw Taxpayers Banks Aiming to Play Both Sides of Coin from The Wall Street Journal ¨Banks Aiming to Play Both Sides of Coin from The Wall Street Journal http://online.wsj.com/article/SB1243...ml#mod=testMod Some banks are prodding the government to let them use public money to help buy troubled assets from the banks themselves. Banking trade groups are lobbying the FDIC for permission to bid on the same assets that the banks would put up for sale as part of the government's Public Private Investment Program. PPIP was hatched by the Obama administration as a way for banks to sell hard-to-value loans and securities to private investors, who would get financial aid as an enticement to help them unclog bank balance sheets. The program, expected to start this summer, will get as much as $100 billion in taxpayer-funded capital. That could increase to more than $500 billion in purchasing power with participation from private investors and FDIC financing. more: http://online.wsj.com/article/SB1243...ml#mod=testMod

05-27-2009, 08:49 AM	#2
pornguy Too lazy to set a custom title Industry Role: Join Date: Mar 2003 Location: Homeless Posts: 62,911	It will honestly never end. The money grab is 10 times worse now than it was. __________________ PornGuy skype me pornguy_epic AmateurDough The Hottes Shemales online! TChicks.com \| Angeles Cid \| Mariana Cordoba \| MAILERS WELCOME!

05-28-2009, 05:35 AM	#3
efp Registered User Join Date: Oct 2007 Location: Principat d'Andorra Posts: 34	Banks have never been your "friends" or a "service institution" ... __________________ Worldwide Phone & SMS Billing made simple No Chargeback - No Refunds EVER Global Accés S.L. - PREPAID Payouts since 2004 ICQ # 144213329 Skype: efpcoder