CEO Looking a Little Nervous...? WASHINGTON - DECEMBER 9: Former Freddie Mac CEO Richard Syron (L) adjusts his tie while testifying with former Fannie Mae CEO Daniel Mudd (R), and fromer Fannie Mae CEO Harold Raines (C) before the House Oversight and Government Reform Committee during a hearing on "The Role of Fannie and Freddie Mac in the Financial Crisis" on Capitol Hill December 9, 2008 in Washington, DC. The hearing focused on the financial collapse of Fannie Mae and Freddie Mac, their takeover by the federal government, and their role in the ongoing financial crisis.Image by Getty Images via DaylifeFrom Denny: This just in from the Friday afternoon news cycle... Congress knows the public is seriously ticked off about the greed on Wall Street. They took advantage of us from the TARP money that was supposed to keep them afloat and the economy from tanking as the conventional wisdom went. When I first heard of it when Bush was on his way out of office I knew it was the Republican's last parting shot of "screw over the public" yet one more time "because we can." So, they did.
All they did with the TARP money was bonus themselves and continue greedy unwise short-term vision business as usual. Big business is now feeing their customers into the poor house as a result of feeling free enough to play with taxpayer money. The big banks, even Royal Bank of Scotland who got money from two countries - United States AND United Kingdom - decided to use their bail-out money to enhance their profit bottom line for the quarter. They even publicly said they saw no reason to start lending out the money to the public they were given for that express purpose.