Do you people really think money is just being given to banks and they can do whatever they want? Instead of loaning it out they can just "keep it."
probably the same people that think banks trying to make profits is evil.
$0.02.
All businesses are "greedy," the difference with banks is that the government wholeheartedly supports and helps finance it.
Uses for $700 billion bailout money ever shifting
By JOHN DUNBAR – Oct 25, 2008
WASHINGTON (AP) — First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.
Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.
But reports surfaced that bankers might instead use the money to buy other banks, pay dividends, give employees a raise and executives a bonus, or just sit on it. Insurance companies now want a piece; maybe automakers, too, even though Congress has approved $25 billion in low-interest loans for them.
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