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  • CIT Group's Bankruptcy Plan: Goodbye Common and Preferred Stock  [View article]
    The feds shout "hurrah, Taxpayers - look how much money we made you" as a handful of megabanks pay back TARP. But they don't specify how much !! Think about it - the few that pay back were charged no more than .025% interest, so the gains to the taxpayers is negligible. The $Billions lost to CIT far outweigh whatever was taken in on TARP repayments.

    It's the same version of "accounting" as is being used to make Q3 numbers look so good. Yes, there are a FEW companies with robust business activity. Overall, the true result is NET LOSS for both public and private economic activity.

    Making the middle class poorer will not lead to "recovery". And the underlying government policies are gutting the middle class.
    Nov 03 08:58 am |Rating: +4 -1
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