REWARDING FAILURE

by Mark Johnson

for HUSTLER Magazine – July 2010

Just a year after sucking in over $700billion in taxpayer-funded bailouts, the Wall Street banks have again posted record profits and paid out huge bonuses.

Defending the latest free-for-all, banks say that they have paid back most of the money from the Troubled Assets Relief Program with interest. But the TARP bailout sum of $700 billion represents only a small fraction of the trillions of dollars in federal funds made available to rescue the...