Goldman Sachs repays about $10 bln in TARP funds and gives out record bonuses!
SAN FRANCISCO (MarketWatch) — Goldman Sachs Group (GS ) said Wednesday it has bought back 10 million preferred shares issued to the Treasury earlier for about $10.04 billion. “The repurchase includes a one-time preferred dividend of approximately $425 million which will be reflected in our second quarter results,” Goldman Sachs said. The dividend payment is expected to lower its second-quarter earnings by 77 cents a share. Source
So,the white bankers, some of them presumably with blond hair and blue eyes, created the worst recession since the flood and yet the very same banks that we told were about to go belly up and destroy the world were able to, in just a few short months, pay back the funds that the Obama administration “gave” them. “Gave” may not be the best term as many of the banks did not want any of this money but were literally threatened and forced to take it. The banks’ problems didn’t just end there, they got worse when they tried to payt back taxpayers money! Desperate to keep their filthy hooks into the nation’s financial system Obama and Geithner and Rahm Emanuel refused to allow the banns to refund the funds! Executives were cajoled, blackmailed and threatened in an effort to allow Obama to keep control of the banks. There wasn’t even a system in place for the banks to buy back their securities from the government and thus give us back our money.
In the end, faced with increased scrutiny ( Weep not for the Obamunists for they found fertile ground in the automotives and downright hit the jackpot in healthcare)