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They have failed to pay back billions, much less $3k. Do not do business with any organization on this list: https://projects.propublica.org/bailout/list https:

by ewams 10y ago

They have failed to pay back billions, much less $3k. Do not do business with any organization on this list: https://projects.propublica.org/bailout/list https://projects.propublica.org/bailout/list

ryanackley 10y ago
From your own source, the government _made_ about 2 billion off of the BofA bailout. This includes the 2 billion write-off of TARP funds they gave to the home mortgage group. Not defending BofA, just saying your source material doesn't make the point you think it does.
- ewams 10y ago
  You are correct, thank you I read the last update wrong. I personally still attempt to not do business with these organizations for multiple reasons.
viewer5 10y ago
Disclaimer: I know very little about any of this, and am just commenting because I was surprised by one of the places listed. That place listed, I work for its 'sister' credit union, State Employees' Credit Union (NC) It looks like the list items are there for different reasons, not all because they're big lenders who got bailed out. I clicked on Greater Kinston Credit Union[1]. Its reason for being on there is the 'Community Development Capital Initiative'[2]. Excerpt from [2]: 'designed to provide cheap financing to Community Development Financial Institutions (CDFI): banks, thrifts or credit unions that operate in markets underserved by traditional financial institutions. The idea was that the banks would then lend that money to small businesses in their areas.' That one sounds pretty benign (i.e. it's not "bailing out Too Big To Fail companies for crappy practices"--GKCU is a small credit union), so I think the list you posted is more nuanced than crappy Too Big To Fail bailout companies. [1] https://projects.propublica.org/bailout/entities/936-greater-kinston-credit-union https://projects.propublica.org/bailout/entities/936-greater... [2] https://projects.propublica.org/bailout/programs/13-community-development-capital-initiative https://projects.propublica.org/bailout/programs/13-communit...
bandrami 10y ago
All TARP funds were paid back with interest. From a revenue standpoint, the government should bail out banks more often.
- wheelerwj 10y ago
  what?
  - bandrami 10y ago
    TARP made money for the US government. They lent banks money at interest, and were paid back. If the government were a private entity that would be recorded as "profit". If you want more government revenue, you should be pushing for more frequent bank bailouts.

by ewams 10y ago

They have failed to pay back billions, much less $3k. Do not do business with any organization on this list: https://projects.propublica.org/bailout/list https://projects.propublica.org/bailout/list

ryanackley 10y ago

From your own source, the government _made_ about 2 billion off of the BofA bailout. This includes the 2 billion write-off of TARP funds they gave to the home mortgage group. Not defending BofA, just saying your source material doesn't make the point you think it does.

ewams 10y ago
You are correct, thank you I read the last update wrong. I personally still attempt to not do business with these organizations for multiple reasons.

viewer5 10y ago

Disclaimer: I know very little about any of this, and am just commenting because I was surprised by one of the places listed. That place listed, I work for its 'sister' credit union, State Employees' Credit Union (NC) It looks like the list items are there for different reasons, not all because they're big lenders who got bailed out. I clicked on Greater Kinston Credit Union[1]. Its reason for being on there is the 'Community Development Capital Initiative'[2]. Excerpt from [2]: 'designed to provide cheap financing to Community Development Financial Institutions (CDFI): banks, thrifts or credit unions that operate in markets underserved by traditional financial institutions. The idea was that the banks would then lend that money to small businesses in their areas.' That one sounds pretty benign (i.e. it's not "bailing out Too Big To Fail companies for crappy practices"--GKCU is a small credit union), so I think the list you posted is more nuanced than crappy Too Big To Fail bailout companies. [1] https://projects.propublica.org/bailout/entities/936-greater-kinston-credit-union https://projects.propublica.org/bailout/entities/936-greater... [2] https://projects.propublica.org/bailout/programs/13-community-development-capital-initiative https://projects.propublica.org/bailout/programs/13-communit...

bandrami 10y ago

All TARP funds were paid back with interest. From a revenue standpoint, the government should bail out banks more often.

wheelerwj 10y ago
what?
- bandrami 10y ago
  TARP made money for the US government. They lent banks money at interest, and were paid back. If the government were a private entity that would be recorded as "profit". If you want more government revenue, you should be pushing for more frequent bank bailouts.