Arkansas Watch Prudent financial behavior?

Wednesday, August 12, 2009

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The government of the United States appears to have been completely captured by large financial interests like Goldman Sachs, J.P. Morgan and even foreign banks. TARP has exploded into a 23 Trillion dollar program through subprograms such as TALF. TALF is a program whereby chosen Wall Street gamblers can take all of their junk "assets" to the Federal Reserve and get "loans" backed by our treasury for the book value (that is what they say the asset is worth) of the asset. And the only recourse the taxpayers have if the banks don't pay back the loans is that we get to keep the toxic asset.

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Opinion, Pages 4 on 08/12/2009

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