Weatherdem's Weblog

Bridging climate science, citizens, and policy

Quick Hit: TARP Funds and Overdraft “fees”

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Where is the oversight and conditions for too-big-to-fail banks’ use of TARP funds?  They get to use billions of taxpayer dollars while collecting $27 per overdraft, to the tune of $17.5 billion each year (more than the $15.8 billion in overdraft loans that generated them!)?  That’s immoral on top of being absurd.

It’s also a good example of what the tea-baggers really gathered for on Wednesday: they were anti-Obama and anti-government, not anti-taxes.  Banks loot their pockets more than the government does (at least they get something out of paying taxes – what do they get from paying overdraft fees?), yet what were they protesting?


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