US sees profit from TARP bailout

[RetiredGySgt]

So has the entire 240 Billion been paid back and then more made? You may want to look up what the word profit means.

 

[Contumacious]

And his refusal to sign the bill to renew the charter of the Bank of the United States resulted in the rise of wildcat banking, causing the Panic of 1837.

Which lasted a mere TWO WEEKS - the Bush/Obama Depression is still going and going and going


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Two weeks? Try five years. Half the banks in the nation failed.

"In early 1833, Jackson decided to pull the government's funds out of the Bank. The funds were transferred to seven state-chartered banks in late September. This put the Second Bank on the defensive. It had lost its biggest depositor, by far.

To fight back, Biddle decided to shrink the money supply and cause a recession in 1834 in order to force Jackson to accept a re-charter bill. The Bank demanded that old loans be repaid. It made no new loans.

There was a brief recession in the first half of 1834, but another bill to re-charter failed in the House on April 4. That was the last time the issue ever came before Congress. And so, the Bank was doomed. Its charter expired in April, 1836.


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