It'sMe on Nostr: Bankers begging for TARP 2.0 ... trillions of dollars of aid from taxpayers, the same ...
Bankers begging for TARP 2.0 ... trillions of dollars of aid from taxpayers, the same people they've been cheating and screwing ever since the last bailout. https://www.americanbanker.com/opinion/u-s-banks-need-tarp-2-0-a-trapped-asset-relief-program [www americanbanker com]
Their assets aren't really "troubled", the bankers are just getting lower interest rates on them than they could if they could reissue those loans. If they can just hold them until maturity, they'll be fine.
The real issue is that the FED is trying to punish you and me with the interest rate increases (FED chair Jerome Powell said this repeatedly, so it is without question), but banks borrow short-term and often lend long-term. Rapid interest rate increases will hurt them because of that business model.
Instead of begging for taxpayer money to line the pockets of banking execs, call out the FED's Open Market Committee for being out of touch and for intentionally harming the people they're meant to protect.
Their assets aren't really "troubled", the bankers are just getting lower interest rates on them than they could if they could reissue those loans. If they can just hold them until maturity, they'll be fine.
The real issue is that the FED is trying to punish you and me with the interest rate increases (FED chair Jerome Powell said this repeatedly, so it is without question), but banks borrow short-term and often lend long-term. Rapid interest rate increases will hurt them because of that business model.
Instead of begging for taxpayer money to line the pockets of banking execs, call out the FED's Open Market Committee for being out of touch and for intentionally harming the people they're meant to protect.