Welfare Queens lining up for handouts

from CNNMoney:



Lots of banks interested in bailout - Paulson
Treasury Department lays out process for banks to apply for funding.


NEW YORK (CNNMoney.com) -- Banks of all sizes are interested in a piece of the federal government's $250 billion fund to recapitalize financial institutions, Treasury Secretary Henry Paulson said Monday.

"We have received indications of interest from a broad group of banks of all sizes," he said at a briefing in Washington.

The capital infusion is among the government's latest attempts to strengthen the teetering United States financial system. The funds come from the $700 billion bailout package passed by Congress in early October and follows similar moves by European governments.

Many America banks, however, are lukewarm to the idea of having the government take an equity stake in the program, which was announced a week ago.

Banks must apply for funds by Nov. 14, Paulson said. They must consult with their primary federal regulator before applying. .......(more)

The complete piece is at: http://money.cnn.com/2008/10/20/news/economy/Paulson/index.htm

I need a new car.

I need tuition money.

But I just want to grab as much cash as I can carry on my way out, just like the executives.

:)

and collect 30 million or so.

ain't so. Bankers wanting our money for free? Without any oversight or direction?
I am SHOCKED! Seriesly!!111!1

Just hand over the cash, and nobody gets hurt.

Looks like the banks learned a thing or two from Willie Sutton. I don't think any of the banks got an equity stake in any of the robbers who absconded with their funds. And some of them get away with two thousand or even three thousand dollars! Why is everyone getting all bent out of shape over a measly $750 billion?

I can understand the cash infusion for SOME banks that got into serious capital trouble when the RE market fell apart. Some areas of the country were hit a lot harder than others. But I'd like to know what requirements have been established to insure that the banks who participate in this program are #1 salvagable and #2 actually NEED the money!

:thumbsup:

screeching about how Obama is a Socialist who want s to redistribute the wealth!!

Just what the hell do they think this crap is?? It is ok to redistribute it upwards, I guess. It is only the downward redistribution that pisses them off. And those idiots who are cheering them on do not even realize that it is THEIR tax money that is bailing out these banks!!!