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Bailouts Have Failed: Banks Are Still Hoarding Cash
Posted By admin On October 17, 2008 @ 3:41 am In Money Watch | Comments Disabled
George Washington’s Blog 
Friday, Oct 17, 2008
Despite spending trillions of dollars on the bailout plans, banks are still hoarding cash.
The feds handed out all of the dough without keeping any control whatsoever  to make sure the banks used the money to lend out to Main Street.
The feds’ hope that the banks would use the money to lend out to Main Street is about as smart as handing over your wallet to a robber based upon the hope that he’ll pay your bills with it.
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URL to article: http://www.prisonplanet.com/bailouts-have-failed-banks-are-still-hoarding-cash.html
URLs in this post:
 George Washington’s Blog : http://georgewashington2.blogspot.com/2008/10/feds-actions-have-failed-banks-are.html
 Credit card defaults are skyrocketing, “forcing banks to hoard cash to protect against future losses”: http://www.washingtonpost.com/wp-dyn/content/article/2008/10/15/AR2008101503233_pf.html
 pay off their derivatives debts: http://georgewashington2.blogspot.com/2008/10/banks-hoarding-cash-to-pay-derivatives.html
 ride out the financial crisis: http://www.bloomberg.com/apps/news?pid=20601102&sid=aA1JyufIMExE&refer=uk
 without keeping any control whatsoever: http://georgewashington2.blogspot.com/2008/10/feds-give-hundreds-of-billions-to-banks.html
 Image: http://www.prisonplanet.tv/subscribe.html
 Banks Hoarding Cash to Pay Derivatives Liabilities: http://www.prisonplanet.com/banks-hoarding-cash-to-pay-derivatives-liabilities.html
 Failed Banks May Get Pension-Fund Backing as FDIC Seeks Cash: http://www.prisonplanet.com/failed-banks-may-get-pension-fund-backing-as-fdic-seeks-cash.html
 Taxpayers set to hand over MORE cash to bail out Britain’s failing banks: http://www.prisonplanet.com/taxpayers-set-to-hand-over-more-cash-to-bail-out-britains-failing-banks.html
 Thanks To QE Bernanke Has Injected Foreign Banks With Over $1 Trillion In Cash For First Time Ever: http://www.prisonplanet.com/thanks-to-qe-bernanke-has-injected-foreign-banks-with-over-1-trillion-in-cash-for-first-time-ever.html
 Banks Keep Mum on What they Did with Bailout Cash: http://www.prisonplanet.com/banks-keep-mum-on-what-they-did-with-bailout-cash.html
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