TARP Inspector General: Taxpayers Are Still Owed $118B in Bailouts
TARP’s Inspector General Christy Romero says that taxpayers are still owed $118 billion because of the bank bailouts, and that most likely they will not see the money.
Judge Andrew Napolitano weighed in on today’s Your World, saying, “Now, we have hundreds of small- and mid-level banks that have federal dollars in there that can’t pay the money back … That means they are only there because the government force-fed them cash. That means they shouldn’t be there.”
He went on to say that this money could’ve helped many entrepreneurs that will now not be there, because it was passed on to these banks.
“This is the greatest, clearest and most obvious cause of price inflation in history, when the government prints cash out of thin air and they did this to us,” Napolitano said.