Local Bank Repays Bailout Money To Fe...

Local Bank Repays Bailout Money To Federal Government - Regional News - Berks Story - WFMZ Allentown

There are 6 comments on the WFMZ story from Mar 17, 2011, titled Local Bank Repays Bailout Money To Federal Government - Regional News - Berks Story - WFMZ Allentown. In it, WFMZ reports that:

A local bank is among six that have repaid their bailout money to the federal government, the U.S. Treasury Department said Thursday.

Join the discussion below, or Read more at WFMZ.

Amazed

Reading, PA

#1 Mar 17, 2011
"Banks received a total of $245 billion under the program. The Treasury Department has collected about $244 billion in repayments, fees, and other income from banks for a 99 percent recovery rate. The department expects the bank program will finish with a profit of about $20 billion."

So, Uncle Sam profits nicely - we don't hear about this when folks scream about bail-outs, etc.
DEB 58

Catasauqua, PA

#2 Mar 17, 2011
very good! Way to go!
Lehigh Valley

United States

#3 Mar 17, 2011
Being the cynic I am, I don't believe those numbers. I do know that when the banks were in crisis, Nat Penn and KNBT were not in trouble, but they took the money anyway. They used it to buy banks, make interest, etc .. they did not make it any easier for small businesses to get loans, or for people like you and me.
I also know, Wachovia/Wells used the bailout money to buy new ATM's all across the country. But notice, they did not buy US atms from Diebold or NCR, they bought German atms from Wincorp-Nixdorf.

So it seems to me, that the bailout was still a joke.
AreYouKidding

Reading, PA

#4 Mar 17, 2011
Where do you think these 'paybacks' and 'profits' come from? From GOUGING the American people! Our general economic environment continues to sprial downward from already historic depths - and you people are PRAISING this?!?! Hey 'Amazed', what's amazing is your blind ignorance!!!!
Amazed

Reading, PA

#5 Mar 18, 2011
AreYouKidding wrote:
Where do you think these 'paybacks' and 'profits' come from? From GOUGING the American people! Our general economic environment continues to sprial downward from already historic depths - and you people are PRAISING this?!?! Hey 'Amazed', what's amazing is your blind ignorance!!!!
OK, have it your way: more bank failures, foreclosures, lack of credit to small business. You can always avoid using the banks by putting your $$$ under the mattress and do strictly cash business. That'll get the economy going.
Eric

Wilmington, DE

#6 Mar 18, 2011
I for one would welcome bank failures and economic collapse...with the sound of gun fire in the direction of those who didn't prepare and want to loot my house.

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