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Author Topic: Obama's TARP Billions Shipped Overseas  (Read 1627 times)

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Offline George

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Obama's TARP Billions Shipped Overseas
« on: August 12, 2010, 06:54:43 PM »
The TARP bank bailout billions of dollars have been spent bailing out other countries instead of ours.  It makes me say, WTF!

Quoting from the article. 

Economists and conservatives reacted sharply Thursday to reports that tens of billions in TARP bailout money flowed out of the United States and into the coffers of big banks in France, Germany, and other nations during the government rescue of the U.S. financial system.

That news came as the U.S. economic picture continued to worsen, with rising unemployment claims and a surge in U.S. homes lost to foreclosure.

CATO Institute budget analyst Tad DeHaven tells Newsmax: “The economy has become increasingly global, so it’s not shocking that TARP bailout money ended up at foreign financial institutions. Nonetheless, bailing out U.S. financial firms was bad enough — that foreign institutions also benefitted from the largesse just adds insult to injury.”

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