Posted on 04/16/2011 5:53:51 PM PDT by apoliticalone
The New York Daily News has a preview of what's to come in the Rolling Stone article (out Friday).
Exhibit one: a company that the wives invested $15 million in called the Waterfall TALF Opportunity.
After founding and investing in the company, the wives took $220 million in TALF loans, bought "student loans and commercial mortgages" -- and didn't pay back $150 million yet (as of the fall).
(Excerpt) Read more at businessinsider.com ...
This is an example of where our bailout money was used to enrich the special few. Where do we all sign up for that privilege?
The wives of the top bankers at Morgan Stanley, Christy Mack and Susan Karches who really knew little about finance, held their hand out to the Federal Reserve and were given a quarter of a billion in our money.
While most Americans must work for a living, others just hold their hand out as they wake up in the morning and the Fed gives them a quarter of a billion with which to get richer. The MSM will not cover this. There is something seriously wrong when those that had a huge part in disrupting our economy are handed our money, and it comes hand over fist so they profit from the woes of others.
The TALF was an easy scam http://www.businessinsider.com/how-banks-and-hedge-funds-will-scam-the-talf-2009-3
Some dopes on this site were defending this last week and attacking rolling stone for reporting it.
Thanks. I did a search for Karches and Mack and didn’t find a previous thread on this.
When billionaires get richer, not because of their own initiative or risk, but on the backs of taxpayers and through government handouts, and cronyism, it bothers me. Especially so when it was them who played a big part in causing the economy to crater in the first place.
I hope you meant that as a satirical comment.
Soros is another member of the Fed’s private club. Did he get a handout too. Ask Beck.
Most Americans’ are stuck paying for the corrupt decisions of the Fed and the payoffs to their never freeloading compadres.
This story is really unbelievable. Really shows the madness of this out of control mess.
bump
Thanks for posting this. This kind of article flushes out the kool aid drinkers.
The Real Housewives of Wall Street
http://www.rollingstone.com/politics/news/the-real-housewives-of-wall-street-look-whos-cashing-in-on-the-bailout-20110411
The Real Housewives of Wall Street
http://www.rollingstone.com/politics/news/the-real-housewives-of-wall-street-look-whos-cashing-in-on-the-bailout-20110411
oops, sorry for the double post. I got a real weird message when I tried to post the first time.
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