bookmark_borderU.S. Ends Bailout Program with $15.3 Billion Profit

The Troubled Asset Relief Program (TARP) ended when the Treasury sold its remaining shares of Ally Financial (the last remaining major bank.) The bailout program was originally $426 billion.

The Treasury Department reports, “Treasury invested approximately $245 billion across five distinct bank programs. Each of these programs was established to accomplish different goals as part of the overall effort to stabilize America’s banking system.

​Treasury has already recovered an amount that is greater than what was invested in banks under TARP. Taxpayers began to see a positive return on their bank investments in March 2011. Every additional dollar that is recovered from TARP’s bank investments represents an additional return for the taxpayers. ​​”

bookmark_borderGood News: FaceBook IPO Flops

The initial puplic offering of FaceBook flopped on the NASDAQ. This is good news. It is rumored that the sinister bad bank Morgan Stanley had to eat it. When the offering price failed, the bad bankers had to come in and prop up the price. As it turns out, Mark Zuckerberg may be one of the largest criminals in our times. Just say NO to proping up sketchy shysters.

bookmark_borderWill the New Owners of FaceBook Be Responsible?

PHILADELPHIA, PA: The word on the street is FaceBook may be going public (in an IPO) as soon as this coming week.

Will the new owners of FaceBook, those people who buy shares, be responsible for my privacy and security? Is it possible for individual shareholders to be accountable for what their company does?

At one point in time, people believed the corporate umbrella might shield them from illegal activities. Then, board members and executives found they were the defendants in civil and criminal suits. They thought a new type of insurance would protect them. It does not.