Bankers begging for TARP 2.0 ... trillions of dollars of aid from taxpayers, the same people they've been cheating and screwing ever since the last bailout. https://www.americanbanker.com/opinion/u-s-banks-need-tarp-2-0-a-trapped-asset-relief-program [www americanbanker com]
Their assets aren't really "troubled", the bankers are just getting lower interest rates on them than they could if they could reissue those loans. If they can just hold them until maturity, they'll be fine.
The real issue is that the FED is trying to punish you and me with the interest rate increases (FED chair Jerome Powell said this repeatedly, so it is without question), but banks borrow short-term and often lend long-term. Rapid interest rate increases will hurt them because of that business model.
Instead of begging for taxpayer money to line the pockets of banking execs, call out the FED's Open Market Committee for being out of touch and for intentionally harming the people they're meant to protect.
It'sMe /
npub1m0…gekrr
2023-10-16 16:43:01
Author Public Key
npub1m034tqsg2nv0rxdst2uf5u2u3lk0dm49u33m3yy3y62kn7w7x2ns6gekrrPublished at
2023-10-16 16:43:01Event JSON
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"content": "Bankers begging for TARP 2.0 ... trillions of dollars of aid from taxpayers, the same people they've been cheating and screwing ever since the last bailout. https://www.americanbanker.com/opinion/u-s-banks-need-tarp-2-0-a-trapped-asset-relief-program [www americanbanker com] \n\nTheir assets aren't really \"troubled\", the bankers are just getting lower interest rates on them than they could if they could reissue those loans. If they can just hold them until maturity, they'll be fine. \n\nThe real issue is that the FED is trying to punish you and me with the interest rate increases (FED chair Jerome Powell said this repeatedly, so it is without question), but banks borrow short-term and often lend long-term. Rapid interest rate increases will hurt them because of that business model.\n\nInstead of begging for taxpayer money to line the pockets of banking execs, call out the FED's Open Market Committee for being out of touch and for intentionally harming the people they're meant to protect.",
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