Citi and BofA Buy Back Laundered Loans with TARP Money

The NY Post reports today that Citi and BofA have been “scooping up” the “toxic mortgage assets” that Treasury Secretary Tim Geithner made available with his “plan to help the nation’s largest banks purge” the toxic assets.

Citi and BofA each “received $45 billion in federal rescue cash meant to help prop up the economy and jumpstart the housing market,” but instead of using the money to do just that, they are buying up toxic assets. 

It’s never ending isn’t it. These Wall Street ho’s just keep playing with taxpayer money like it’s Monopoly money and there are no consequences. Meanwhile more and more Americans are out of work and ending up living on the streets.

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About Pamela Leavey

Pamela Leavey is the Editor in Chief, Owner/Publisher of The Democratic Daily as well as a freelance writer and photographer. Pamela holds a certificate in Contemporary Communications from UMass Lowell, a Journalism Certificate from UMass Amherst and a B.A. in Creative Writing and Digital Age Communications from UMass Amherst UWW.
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