And then those "Investment Banks" went out and bought up a regional or "mom & pop" bank so they could then feast on the bailout!!!
I wonder how many people know that American Express got $800,000,000 in "bailout money" because they purchased a small two or three branch bank out east, and then used that $800,000,000 to cover bad credit card debt, in effect getting FREE MONEY to cover their outstanding credit card debt and collecting up to 23% interest from clients who were as little as one day late in paying their bill?
BTW, up until the VERY DAY the Fed stopped pumping $80 billion a month in the banking system, all the top 10 banks in the US were using FREE FED MONEY at 0% interest to cover outstanding credit card debt at anywhere from 17% - 23%.
That meant the top 10 banks were EASILY making 17% - 23% PURE PROFIT every month on their credit card services, thanks to you and I, the good old American taxpayer.
Feel ripped off yet?
If I knew it, I’d forgot it—the corruption of the various levels of government never fails to astound me.
Cut out the corruption and then the waste—and we’d be halfway toward a government not to be ashamed of.