"Lending NOT Required"- Banks Getting more of OUR Money, FOR NOTHING IN RETURNSubmitted by christopher X on Sat, 02/07/2009 - 00:47
...read the bold in this article. The banks are going to get billions more for NOTHING......
WASHINGTON — After weeks of internal debate, the Obama administration has settled on a plan to inject billions of dollars in fresh capital into banks and entice investors to purchase their most troubled assets.
The new financial industry rescue plan, to be outlined in broad terms on Monday in a speech by the Treasury secretary, Timothy F. Geithner, will not require banks to increase their lending. That is despite criticism that institutions that already received money from the Troubled Asset Relief Program, or TARP, either hoarded it or used the funds to acquire other banks.(full article at link)