Tuesday, August 27, 2013

Story of the day

Presented without comment:

Bank president pleads guilty to using TARP funds to buy a luxury condo in Florida.

Tammy Dickinson, United States Attorney for the Western District of Missouri, announced that a Columbia, Mo., bank chairman pleaded guilty in federal court today to misleading federal investigators about his use of $381,000 in bank bailout funds to purchase a luxury condominium in Fort Myers, Fla.

“At a time when many other Americans were losing their homes, he was siphoning off public funds to buy a luxury vacation condo in Florida,” Dickinson said. “These federal funds were intended to help stablilize the economy during a fiscal crisis. Instead, this disgraced business leader took advantage of the situation to benefit himself and other bank executives, then lied to federal investigators in an attempt to hide his scheme.”

Bonus story of the day:

We'll debate the WHY of this story on another day but look at the chart in this article.

College costs up 500% since 1985!


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