Here’s an excellent commentary by Dylan Ratigan, please share this one–because one thing we own the government can’t take away is truth. – Ilene
The good news in America today is that many of lies from our leaders and media no longer seem to be working. Four out of five people view the current proposed financial reform as ineffectual. Many in Congress who voted for socialism for the rich now look like they will be voted out for continuing those giveaways.
Now the only way those Banksters can survive is to pretend that their corporate communism is working even in the face of overwhelming evidence to the contrary. Most recently, they decided that instead of taxing complicit financial institutions the cost of their "Financial Reform-In-Name-Only", they will instead use what I call the Big Tarp Lie to pander for the vote of Senator Scott Brown and others.
The mainstream media rarely fights back against this lie, either by an inability to understand, a desire to protect their access to these same Politicians and Bankers or an unwillingness to go up against the very same financial institutions that are often the only thing between them and the unemployment line.
However, we the people have to fight back against these lies – and thankfully we own the truth.
This lie must be beaten back by all of us like whack-a-mole every time it rears its ugly head. Please help me by sending this information to any Politician, Media Figure, Banker, Neighbor or Robot that you find repeating it – they can take our money, but they don’t own the truth.
Let’s break it down:
1. TARP itself hasn’t even made money. AIG alone still owes us $75.6 billion. However, they always add the caveat "Other than AIG…" when they say that the bailouts were "profitable". But the AIG money was DIRECTLY PAID to many of these same banks that "paid back their TARP" at an outrageous 100 cents on the dollar! Mind you, this was done by government officials that were the former employees and current shareholders of the very banks they were helping. Let’s make the banks like Goldman Sachs, Bank of America and Societe Generale pay back the $105 billion of stolen taxpayer money before we let anyone say "TARP was paid back."
2. TARP is a tiny little part of a massive amount of taxpayer support. TARP is actually less than 10% of your tax dollars that have been handed to the banks. And now the banks "paid back" the tiny slice that is TARP with OUR money and you are supposed cheer them for savvy. At this very moment, the taxpayer is still owed $2.02 Trillion dollars for the bailout by our Politicians and Banksters, and that number is growing every day.
Never mind the money that these same banks make getting endless 0% interest loans from the Federal Reserve (aka You) while either they lend it back to you at 14% or just lend it right to back the government and pocket the yield. Never mind the multitude of benefits they get from being Too Big Too Fail. But you’re not supposed to pay attention to that; you’re only supposed to notice how fast they paid back TARP!
So instead of these Politicians looking for the only obvious place to find the money – clawbacks from the people who continue to steal it – we are now being subjected to outright lies as they once again pick the banksters over the people who voted them in. But don’t let them, or anyone in the media, get away with it without hearing from you.