So last year it was politically expediant to "bailout" the banks, whether they wanted to be bailed out or not. We needed to "save" the banks, it was a crisis. Make the people think we are saving the economy and that Obama is our hero.
Since then US strongman El Jeffe Obama has figured it might be more expediant to blame the banks for the economy, blame the "fat cat bankers" who helped fund his campaign. Today the Obama regime is announcing new taxes on the demon banks, how dare they make a profit.
Of course, GM doesn't have to pay back TARP. The UAW will soon be exempt from taxes on "cadillac" healthcare plans as well. Government partisan favoritism is not pretty. It is all about politics, always it is about politics. Freddie Mac and Fannie Mae won't have to pay anything back either, they are basically nationalized as part of the Democrat Party Machine as well.
Soon the only finction of banks will be to recieve loans from the government at .25% interest and then loan it back to government at 3% interest. Monopoly money. Devaluation in slow motion, not overnight like in Venezuela.
There is no recovery, its all smoke and mirrors. This new tax on loans will make it even worse.
The worse the economy gets, the more power over your life and the nations finances the statists in power will take over. That is the whole point.
The Power proviso
12 minutes ago