We're talkin' FRAUD here folks.
Morgan Stanley repaid $25 BILLION (with a B) today. So where did an institution that needed $25 BILLION (with a B) a few months ago get the funds to repay this money today? Is it the newly resurgent economy? It sure doesn't seem like it to me.
As the article points out, Morgan Stanley isn't the only institution to have the good fortune to pay back the funds they took just a few months ago. (I started to type "mega funds" but that sort of understates it.)
This Zicam user smells a rat. I really do not know why or what the motivation of these finacial instutions was for creating the air of financial crisis that undid the Republican chances last fall, but it's pretty obvious, to me anyway, that that is just what they did.
ML/NJ
Along with that....has anyone noticed that all banks that accepted the bail out.........their stocks are in the tank and going down in value. I thought they were all doing well.
Don’t think that this reduces the TARP slush fund. It just tops it right back up. The Republicans on Capital Hill to pretend to be outraged by this “big surprise” have revealed themselves to be even bigger fools than they already are, or rank, incompetent political hacks.
I think banks are doing this because the Democrats have gone crazy in running these banks. In many respects, I applaud the Democrats for making these banks’ lives hell because it will discourage others from getting on the dole.
When the GOV collects these paybacks, where does the money go towards, bringing down the debt or to other great pork projects?
I am so impressed by these banks paying their debts back to us. I hope they all end up doing so. I was seriously afraid that none of them would and we would end up with the debt later on (or our grandchildren). The only worry I have about this is that the money goes directly to the debt that they borrowed the money from. We might get this economy back on track yet. At least paying back the debt if nothing else.
The list, ping
Where did they get the money from? Surely there has to be some kind of "legal" accounting available to see where this money came from. It sure couldn't have come from a booming economy.
And like RC2 points out, their stocks are in the tank and going down in value.
There's more than one ratt stinking up the place, there's a load of rotten fish buried somewhere as well.
This is good news and proves we didn't need the stimulus. TARP worked.
That is the explanation behind why these banks froze loans for the better part of the last five months, not funding new home loans, small business loans, etc. The common refrain has been 'the banks aren't lending' - and this a huge component of why they have not been loaning.
Secondly, banks have been loaning amongst themselves, as they have always done - and they have been cutting back on expenses radically.
There's no 'rat' to smell here - other than the Rat in the 0val 0ffice.
Lastly, banks will still not be lending (at the rate that they were during the boom years) for some time yet. They are sitting on incoming interest and letting that build, so they can, at some point, resume lending... at a far more cautious level than they exhibited in the past, with federal pressure pushing idiotic 'anyone gets a loan' policies. The days of easy money are over - as they must be if banking is to be the stable and viable business it was in the past.
It’s the profits they made from their dealings with AIG.
Who do you think AIG was paying? Phantoms?
The gov’t should declare the payment late and charge the banks 29% interest.