The Federal Depsoit Insurance Company, a privately owned firm, is funded by banks. FDIC raised the insurance premium rates for all banks in the insurance program that covers depositor's funds.
AIG, Bank of America, Citigroup, JP Morgan, just to name a few entities that take Taxpayer TARP funds SHOULD BE IN BANKRUPTCY PROCEEDINGS
- but Obama's staff will not allow this - WHY?
One bank had their yearly premium change from $30,000 to #300,000. This bank never engaged in subrpime laons, never allowed loans to be gratned to nondocumented borrowers who could not show income, or who did not have a down payment. They did not give loans to people who had bad credict histories an demonstrated continuous defaluts on payments.
This is an OUTRAGE - why shouls banks who did not engage in illegal behavior pay for those who did - those who are no failing and using FDIC because they enaged in illegal activities?
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