Thursday, January 7, 2010

Only $7 Billion from the tax payer

One interesting note from the December 8th, 2009 press release on job creation: The release states that only $7B of taxpayer money was used to bail out the banks and $114B was raised through capital from the private sector. So, the 114B had to come from some where, like loans NOT made to small business, extracted in higher credit card fees and interest, or private capital not invested in other business. The banks errors hurts us either way.

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