The Average Joe has got to be suspicious of the taxpayer-funded bailout when a recent article reports that Trustmark National Bank in Jackson, Mississippi is applying for $215 million of the bailout money because the bank “…simply wants to take advantage of attractively priced capital.” I can’t fault Trustmark for doing so, but come on federal government! It’s one thing for small businesses to get taxed and regulated like crazy, but now they, in effect, get to loan money at a low interest rate to themselves to pay back at a higher interest rate?!
This entry was posted on November 10, 2008 at 12:42 pm and is filed under General Comments.
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Loaning money to myself. My local bank and the bailout plan.
Posted by philhardwick on November 10, 2008
The Average Joe has got to be suspicious of the taxpayer-funded bailout when a recent article reports that Trustmark National Bank in Jackson, Mississippi is applying for $215 million of the bailout money because the bank “…simply wants to take advantage of attractively priced capital.” I can’t fault Trustmark for doing so, but come on federal government! It’s one thing for small businesses to get taxed and regulated like crazy, but now they, in effect, get to loan money at a low interest rate to themselves to pay back at a higher interest rate?!
This entry was posted on November 10, 2008 at 12:42 pm and is filed under General Comments. Tagged: bailout plan. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.