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Wednesday, July 8, 2009
Just who is benefiting from the taxpayer funded TARP bailout???
It seems that the US government is helping out financial institutions that are actually hurting the tax payers. The credit card companies which have received billions of dollars in bailouts from taxpayer funded TARP (Troubled Assets Relief Program) when they were on the verge of failure, are now turning around and squeezing those taxpayers by raising the interest rates they charge on credit card balances without cause.
These companies are hurting the recovery of the US economy, as consumers are forced to spend more on interest charges and less on purchases or debt payments that are necessary for a speedy recovery.
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