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Bailed Out Banks on Brink of Bankruptcy — Again Read more: Bailed Out Banks on Brink of Bankruptcy — Again

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December 28, 2010 – Comments (4) | RELATED TICKERS: FAZ , SKF , SEF

About 100 banks bailed out by the government are teetering on the brink of bankruptcy again, The Wall Street Journal reports.

The banks in question took more than $4.2 billion from the Treasury Department under the Troubled Asset Relief Program (TARP), which was created for healthy banks only.

Seven TARP recipients have gone under already, taking more than $2.7 billion in TARP funds with them.

Full article

4 Comments – Post Your Own

#1) On December 28, 2010 at 12:09 PM, kdakota630 (29.88) wrote:

Argh!  That stupid title thing happened to me again.  I have to do a better job of previewing next time.

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#2) On December 28, 2010 at 12:40 PM, ChrisGraley (29.86) wrote:

I read this last night.

Scary stuff when you combine this info with the fragile munis.

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#3) On December 28, 2010 at 1:38 PM, Option1307 (30.27) wrote:

Who could have foreseen this coming...? ;)

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#4) On December 28, 2010 at 2:35 PM, rfaramir (29.41) wrote:

Who'd'a thunk that bailing out someone that made bad decisions would result in him making more bad decisions?

It's like personal accountability was suspended. A learning opportunity annulled. Those who made wise decisions could have been rewarded by the opportunity to pick up pieces of the carcasses of those who (should have) failed for pennies on the dollar. They would have done something positive with those pieces and actually created wealth, for themselves and their customers and investors. Instead, the zombies were paid to fail more for longer.

Who could possibly have thought that problems caused by too many debts would be solved by adding more debts?  When government intervention has caused a problem, why on earth do we ask the government to intervene to fix it?

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