Banks Lobby for New Ways to Screw Taxpayers
 

Banks Aiming to Play Both Sides of Coin

from The Wall Street Journal
¨Banks Aiming to Play Both Sides of Coin

from The Wall Street Journal
http://online.wsj.com/article/SB1243...ml#mod=testMod

Some banks are prodding the government to let them use public money to help buy troubled assets from the banks themselves.

Banking trade groups are lobbying the FDIC for permission to bid on the same assets that the banks would put up for sale as part of the government's Public Private Investment Program.

PPIP was hatched by the Obama administration as a way for banks to sell hard-to-value loans and securities to private investors, who would get financial aid as an enticement to help them unclog bank balance sheets. The program, expected to start this summer, will get as much as $100 billion in taxpayer-funded capital. That could increase to more than $500 billion in purchasing power with participation from private investors and FDIC financing.


more:
http://online.wsj.com/article/SB1243...ml#mod=testMod

It will honestly never end.
The money grab is 10 times worse now than it was.

Banks have never been your "friends" or a "service institution" ...