Bismillah (In The Name Of Allah)
Some suspicious developments…
Official 6 Page Long TARP Application
The ENTIRE 6 PAGE TARP APPLICATION is out. LOL, I’m stunned how short it is—I had to fill out more info just to get a loan on my car!
Out on the markets, it looks like the corporate weasels are out in full force and trying to grab a piece of the $700 bln TARP funds. Apparently, all you gotta do is buy a bank or reclassify your corporation to be a bank.
Last week, Hartford Financial Services, a $4bln insurance company, acquired a tiny $10mm savings & loan bank in Florida, and now they are applying to get their share of the TARP money. The details are still unclear, but it seems that by spending $10mm to buy a bank, Hartford is now eligible for billions in taxpayer financed liquidity from the government?
Don’t forget about American Express, which changed it’s corporate structure to a “bank holding company” so that they too could participate in the TARP program.
Fleecing of America
As far was I can tell, the US taxpayers have been ROBBED… Your tax dollars have found their way to the pocketbooks of the likes of JPMorgan, Hartford Financial—and who knows, maybe even GM (which also happens to operate GMAC Bank!) & Ford? This $700bln in TARP money, which was originally meant to buy “troubled assets”, is now up for grabs by corporations that pretend to be banks.
Everyone’s lining up at Secretary Paulson’s doorstep, looking for their piece of the pie…
Any ways this is fairly complicated topic, so what are your comments on this? Did proponents of this anticipate this financial circus? or was this their end game plan all along?
And before I forget, where’s the oversight?!
About the Author: Halimah bint David authored, illustrated, published and marketed several books on Islamic monotheism (tawhid) for kids and Sharia for adults. Halimah founded a few popular blogs at SurvivorsAreUs.WordPress.Com, HighwayToHeaven.WordPress.Com, ChristinaMacQuarrie.Wordpress.Com and is currently researching and implementing new copy writing skills.