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Despite Taxpayer Bailout, Fed Says Banks Tighten Loan Standards Most on Record
Posted By admin On November 4, 2008 @ 5:46 am In Money Watch | Comments Disabled
George Washington’s Blog 
Tuesday, Nov 4, 2008
As you probably know, banks are spending taxpayer bailout money to pay executive bonuses , distribute dividends to shareholders , and – with the government’s assistance  – to buy out their competitors .
You’ve probably also heard that the banks themselves admit  they’ll keep hoarding cash.
Now, according to the Fed , even after being handed hundreds of billions in taxpayer loot, the banks have tightened loan standards the most on record.
The head of the U.S. House of Representatives Financial Services Committee said  that using bail-out money for anything other than lending will be a criminal offense. But, so far, its all talk and no action (as usual).
The banks have admitted they’re going to keep on spending the bailout money on everything under the sun other than lending. Okay Congress, stop talking tough and prosecute, already.
And what about Paulson, who knowingly lied  to Congress?
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URL to article: http://www.prisonplanet.com/despite-taxpayer-bailout-fed-says-banks-tighten-loan-standards-most-on-record.html
URLs in this post:
 George Washington’s Blog : http://georgewashington2.blogspot.com/2008/11/despite-taxpayer-bailout-fed-says-banks.html
 executive bonuses: http://www.dailymail.co.uk/news/worldnews/article-1081624/Goldman-Sachs-ready-hand-7BILLION-salary-bonus-package--6bn-bail-out.html
 dividends to shareholders: http://www.washingtonpost.com/wp-dyn/content/article/2008/10/29/AR2008102904533_pf.html
 with the government’s assistance: http://georgewashington2.blogspot.com/2008/10/in-superficial-political-theater-bush.html
 buy out their competitors: http://georgewashington2.blogspot.com/2008/10/giant-companies-are-using-your-money-to.html
 admit: http://georgewashington2.blogspot.com/2008/10/even-banks-admit-theyll-keep-on.html
 according to the Fed: http://www.bloomberg.com/apps/news?pid=20601087&sid=awp0v9iSJIlg&refer=home
 said: http://www.dailymail.co.uk/news/worldnews/article-1082165/U-S-warns-banks-using-bail-money-pay-pensions-executives-criminal-offence.html
 knowingly lied: http://georgewashington2.blogspot.com/2008/10/even-new-york-times-calls-paulson-liar.html
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