TARPed: How Congress Bailed Out Big Bank Shareholders

Written by Gary North on January 4, 2012

The story of the TARP bailout is the story of how the Federal Reserve bailed out the banks a week after the government had bailed out the banks’ shareholders. The FED could have intervened a week earlier. It didn’t. It kept the biggest banks in business, so that their shareholders would avoid losing everything. Let’s […]

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Rich, Incompetent Bankers Run the Country.

Written by Gary North on January 4, 2012

How did bank shares do in 2011? Bad. Incredibly bad, as we read here. BofA: -60.38% Citi: -44.76% Goldman Sachs: -46.41% JPMorgan: -23.03% Morgan Stanley: -45.24% RBS: -50% Barclays: -34.32% Lloyds: -63.02% UBS: -29.33% Deutsche Bank: -28,55% Crédit Agricole: -56.04% BNP Paribas: -37.67% Société Générale: -59.57% Bank of America was the biggest loser among US […]

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