Citigroup Sent $8 Billion To Dubai Government

Well, well, well. Yesterday, Citigroup announced to the world that it’s actually been profitable for the past 2 months! It sure hasn’t been because they’ve been lending to Americans, but perhaps it had something to do with the fact that Citi loaned $8 Billion dollars of TARP funds to the GOVERNMENT OF DUBAI.

Ever seen pictures of Dubai? It’s a playground for the ultra, ultra wealthy. The one with the man-made islands that look like palm trees from the air. Luxury hotels that break luxury records. Skyscrapers that are incredibly lavish.

Currently, the House Committee charged with investigating the banks is meeting, and both Republicans and Democrats are PISSED. Was it legal? Yes, because there were no prohibitions on how the money was spent, and no transparency requirements. Is this behavior off the WTF charts? Hell, yes it is. The banks are whining that they needed to “shore up assets overseas.”

Now, legislators are trying to see if TARP 2 was written any better, and if the TARPS are actually helping the banks and the man on the street. I can tell you the answer…the banks are hoarding the cash, none of it is being lent out, because they are BLACK HOLES with derivative exposure that sucks in every taxpayer donation. These are billion dollar mistakes that the Treasury department and Congress are responsible for, and they are utterly offensive.

Oh, and Bank of America sank $6 Billion of TARP funds into China and India. But the little guys? Not so much. Have you made your Tea Party plans yet? Make them today. We are completely disenfranchised by Washington. Unless we stand up and make ourselves heard, they’ll continue to think we’re the unwashed, uninformed masses, and will keep this insanity going until we’re a third-world nation.

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