Who lies to YOU More - the Media or the WallStreet Bankers?
Is the Public Really Buying this Lame Excuse so Bank of America Executives can Pay Themselves Bonuses?
Posted on Yahoo today?
"Bof A repays $45B in government bailout funds"
The Truth? The money has not been repaid, but an agreement has been reached to repay the money. No mention of interest on the money. Don’t loans come with an attached interest rate?
Bank of America, which announced its agreement with the U.S. Treasury to repay TARP last week, funded the repayment through a combination of cash on hand and the sale of $19.29 billion of securities that would convert into common stock. The stock increase remains subject to shareholder approval.
If it’s subject to shareholder approval then the money has not yet been repaid! And how are they repaying it… through profits due to good banking practices? NO! By creating money from nothing buy printing stock certificates. Who is going to buy the stock? I’m sure shareholders will be pleased when their holdings are diluted.
Why is Bank of America in a Rush to Repay – It’s Corporate Bonus Time!
Repayment of the funds frees the Charlotte, N.C.-based bank from the government restrictions that have hampered its search for a new CEO, including executive pay limitations.
Treasury said that with Bank of America's $45 billion repayment, the total amount of repaid TARP funds is now $116 billion. That's out of a total of $453 billion that the government has extended to banks, insurers, automakers and other companies under the program.
What no one is talking about is how Bailout Money is shifted from one financial institution to the next through acquisition. So what 20% has been paid back? From what?
Watch Bank of America Stock Plummet now. Greedy Bastards running these companies are going to get their Bonuses come hell or high water.
Greedy Bank of America Executives to Get their Bonuses
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