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Friday, October 21, 2011

Continuing Occupy Wall Street Article Saga

My latest posts to my Noozhawk article encapsulates the stupidity of the OWS movement participants:

For those who believe the OWS protesters are well-informed, consider this:
Wells Faro, the bank they were protesting in front of, chanting; “Banks got bailed out people got sold out,” was forced by Hank Paulson to take $25 billion in TARP money on October 28, 2008.  in December of 2009, they paid it back, along with roughly $132 million in dividends.  Pacific Capital, AKA Santa Barbara Bank & Trust, took approximately $181 million in TARP money.  Shortly thereafter they stopped making their dividend payments and the Treasury was forced to accept about $195 million in common stock.  To-date, SBB&T has not repurchased any of that stock owned by the Treasury.
If the OWS people are so well-informed, why were they protesting outside of Wells Fargo on Anacapa, when literally right across the street stands a bank that took taxpayer money and never paid it back?

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