Quote:
Originally Posted by goodtimesintv
"48 percent of the banks that have repaid the CPP used money they'd gotten from other federal programs, according to the GAO report. Those programs include the Community Development Capital Initiative -- another TARP program -- and the Small Business Lending Fund, a program designed to encourage lending to small businesses."
Banks Repaid Fed Bailout With Other Fed Money: Government Report |
Quote:
Originally Posted by biker1
As far as I can tell BoA doesn't owe any money. If you know otherwise please provide the information. I have no love of BofA but do wish to know their current status. Thanks.
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On this Bailout Tracker site of all the bailout recipients repaying their debts or not, it is unclear what Bank of America repaid or not because of these three statements and other important and complex data:
"Recipients of aid through TARP’s housing programs (
such as mortgage servicers and state housing orgs) received subsidies that were never intended to be repaid, so we don’t mark those as losses.."
"Bank of America:
Received other federal aid. Click to see details."
"Note: Subsidies are listed separately from the investment programs. So, for instance,
Bank of America is listed twice – both as a mortgage servicer and as a bank."
And then there is this:
"Companies that failed to repay the government and resulted in a loss are shaded red. You can see a list of those investments here. "
There are over 121 of those companies shaded in red at this page, and their outstanding debt to the government/taxpayers totals tens of billions of dollars.
SEE:
https://projects.propublica.org/bailout/list
I'm no expert obviously. But I think we can safely conclude shoddy mortgage lending practices still go on with these monster banks and mortgage lenders, especially when knowing some do not bother with debt-to-income ratio checking.