So let’s see. Hank Paulson twisted BofA’s arms to buy Countrywide (because of Barney Frank’s mandated toxic loans) and then also forced them to take $25 billion in TARP funds so that they would not appear broke(even though they were insolvent) knowing full well that there would be costly litigation from that purchase and that the AMERICAN TAXPAYER would be paying for all along.
What a freakin country!
Your summary hits the nail on the head. Our government forces private companies to do its bidding, even when it doesn’t make economic sense, then extorts more money out of them when things go wrong. Its the type of thing that happens in Russia or some bananna republic. Not a good sign for our future.