ABC News – Government Watchdog Says Treasury and Fed Knew Bailed-Out Banks Were Not Healthy:
The Treasury Department and the Federal Reserve lied to the American public last fall when they said that the first nine banks to receive government bailout funds were healthy, a government watchdog states in a new report released today.
The bailouts and the stress tests were a joke. Most banks are insolvent and are being propped up by government money, government backstops, and government regulators looking the other way.
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