Forum Post: U.S. Funds Targeted for Small Business Instead Used by Banks to Repay TARP
Posted 13 years ago on Oct. 6, 2011, 11:36 a.m. EST by billierrrr
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BY EMILY MALTBY AND ANGUS LOTEN WSJ Online
More than half of $4 billion in federal funds disbursed this year to spur small-business lending by community banks was used to repay bailout funds that the banks received under the government's Troubled Asset Relief Program.
The Small Business Lending Fund was meant to raise capital at smaller banks, which tend to lend more heavily to small businesses, in the hopes of jump-starting growth and employment. But instead of directly lending to small businesses, many of the banks used the money to rid themselves of higher-cost TARP debt and tougher restrictions.
"It was basically a bailout for 100-plus banks," said ...
1.)Do the BAD ONES have a history of bad or alleged EVIL intent? 2.)Do the BAD ONES violate the intent and spirit of THE LAW? 3.)Do the BAD ONES increase PAYOFFS and transfers to the top management? 4.)Do the BAD ONES pay to the GOVERNMENT, thus making the GOVERNMENT complicit in their actions? 5.)Do the BAD ONES make you and me, by way of the GOVERNMENT complicit?
6.)Do the BAD ONES 'game the system'? 7.)Do the BAD ONES do activities that place them under INVESTIGATION for CRIMES - they may be presume innocent? 8.)Do the BAD ONES directly cause EVIL to the 'common good'? 9.)Do the BAD ONES directly harm their goodwill and reputation? 10.)Do the BAD ONES reflect by the 100 plus banks the ENTIRE BANKING INDUSTRY and so EVERYONE should be INVESTIGATED?
11.)Do the BAD ONES directly HARM your local small business including your local grocery, dry-cleaners, restaurant, etc?
12.)Do the BAD ONES already have a history of buying influence and LOBBYISTS among the GOVT?
13.)Do the BAD ONES make a 'earnest effort' to pay back TARP DEBT, instead of allegedly mis-appropriating small business funds?
14.)Do the BAD ONES really turn out to be a PONZI SCHEME - allegedly - please remove this question, since it has legal impact?
15.)Do the BAD ONES use 'conflict of interest' and 'revolving door' SAME PEOPLE in the government agencies, rating agencies, BAD ONES, and other corporate organizations and thus showing POOR JUDGEMENT?
16.)Do the ELDERLY and close to retired and mature workers look at SMALL BUSINESS, since BIG CORPORATIONS rarely hire the ELDERLY (say age 50 (fifty) and is this BAD ONES action directly AGAINST THE INTEREST of those who are over age FIFTY (50)??
17.)Do the BAD ONES - 100 plus and even up to TWO HUNDRED BANKS act in concert, with communications and attempt to AID AND ABET in concerted fashion - sounds like RICO or RACKETEERING - alleged? See the numbers and size and scale of this apparently MIS-APPROPRIATION or alleged theft or BRAZEN STEALING or just alleged CONSPIRACY TO COMMIT MAJOR CRIMES?
The Wall Street Journal has been full of b.s. on so many things lately but, this is a good article. They recently wrote an article saying how the government was going after "Over seas tax cheats" with FATCA and FBAR when that isn't what happened at ALL. They went after working class Americans and foreign people who owed them ZERO taxes. They trumped up a paper that they told no one about and then said if you didn't put your name on it, they would penalize you for ten thousand dollars up to fifty thousand or seize everything you have. Elderly people living in other countries were scared witless that all their savings would be stolen. They never one time went after a millionaire in the U.S. off shoring their money in the Caymen Islands. They went after the working class who never did anything wrong. They are still doing it. No one cares about these people because the U.S. media calls them "over seas tax cheats" when they know full well that is not the case at all.
Our government has become an economic dictatorship against the average citizen, working class and poor and in favor of the uber wealthy then they lie to us about the legislation. They give the bills "cute names" that do not signify what is in the actual bill so we will think they are doing something for us, when if fact it's usually against us and in favor of the 1 percent. This misappropriation of funds is another example of the business as usual in Washington.