The Troubled Asset Relief Program (TARP) of 2008, essentially, nationalized the banks, because the $700 billion infusion from the federal government came with strings attached. The initial intent of this was to purchase toxic assets and equity from financial institutions to strengthen, as a whole, the financial sector. It was done hastily in the wake of Lehman Brothers going bankrupt, so there wasn’t a cascading effect with other banks at the time. In turn, Dodd-Frank Wall Street Reform & Consumer Protection followed shortly after. However, what we continue to see on the front end, is the larger banks buying up more and more of the smaller banks, creating, in essence, another Walmart syndrome with the banking institutions. Note: If there was any stimulus at this point, it should be debt free\/no strings attached stimulus money to local banks and credit unions to stimulate lending, within the context of a “Main Street Market Economy.”<\/p>\n","protected":false},"excerpt":{"rendered":"
The Troubled Asset Relief Program (TARP) of 2008, essentially, nationalized the banks, because the $700 billion infusion from the federal government came with strings attached. The initial intent of this was to purchase toxic assets and equity from financial institutions …<\/span> Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-2754","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2754"}],"version-history":[{"count":2,"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2754\/revisions"}],"predecessor-version":[{"id":2757,"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2754\/revisions\/2757"}],"wp:attachment":[{"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/voteforjoeblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}