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Ratigan on TARP

Wed Feb 3 2010

Dylan Ratigan on MSNBC of all networks explains the TARP fiasco. 

It goes like this.

Bernake gave a speech several years ago suggesting that if the economy sags, one just throws money from helicoptors. He is now doing just that. 

Banks and brokers borrow money at zero interest. Instead of investing it in the economy, loans, new start ups, they simply gamble it using stock index futures and heavily weighted stocks. 

Bingo, the bank makes a profit books the profit, and then pays a bonus to the guys that did this. 

Meanwhile houses are foreclosed and unemployment goes up. 

It appears by the way that the GDP increase of the last quarter was simply inventory build up. 

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One response to “Ratigan on TARP”

  1. Tammy C. Salinas Avatar
    Tammy C. Salinas

    Wow, it’s like we are digging our own grave and most positive 92% of all Americans don’t know it. This is mind blowing, how can the banks do this to their own country. They are worried only about their own well being and could care less of others since they are living large. This TARP is definately a fiasco. If this continues I’m sure the countries the US banks lend to will soon overcome us and the tables will be turned. Oh but Im pretty sure the CEO’s of these banks will have enough money to move to the country that has the upper hand later.

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