The propaganda that is pushed by western media is sometimes awe inspiring.  While very few country's media outlets have quite the ability of the US mass media, western citizens are simply so ignorant of this fact that they make the job of the media so much easier.

The current media coverage of the TARP funds payback is simply amazing, partially for the gaul of the media outlets, but primarily because westerners forget so quickly and are so easily disillusioned.  The current coverage stresses that 10 banks are being 'allowed' to return upwards of $68 Billion in loaned TARP funds.  It seems strange that mass media are not putting any emphasis on the fact that banks need permission to pay back TARP funds.  It is also strange that the media doesn't mention the fact that many banks are 'not' allowed to pay back the funds.  The important thing to note is the fact that so long as a bank owes TARP, the government has the right to control aspects of the bank, which banks are fighting tooth and nail.

The ten banks haven't been officially named, nor the amounts each bank is paying, but many sources are pointing to the following ten banks:

• JP Morgan Chase
• Morgan Stanley
• American Express
• Bank of New York Mellon
• BB&T
• Capital One
• Northern Trust
• State Street
• U.S. Bancorp
• Goldman Sachs

The pinnacle of the propaganda machine, however, was this:

President Obama on Tuesday announced that the government has "turned a profit" with taxpayer bailout money now being repaid by large financial institutions, ...

It is interesting how quickly the Obama administration uses this as a sign of profit, completely ignoring the billions already lost to GM and Chrysler, not to mention how many more billions they are fully aware that they will never receive.

What is also interesting to note is how the media completely ignores the fact that TARP is just a small fraction of the entire bailout.  Currently, the bailout amounts to about $12.8 Trillion.  Only $700 billion of this is tarp, and only $68 Billion was returned.  In the grand scheme of things, this is just a drop in the bucket.  A complete list of the Bailout, including the TARP, can be found on Bloomberg, and it is copied below:

===========================================================
                                  --- Amounts (Billions)---
                                   Limit          Current
===========================================================
Total                            $12,798.14     $4,169.71
-----------------------------------------------------------
 Federal Reserve Total            $7,765.64     $1,678.71
  Primary Credit Discount           $110.74        $61.31
  Secondary Credit                    $0.19         $1.00
  Primary dealer and others         $147.00        $20.18
  ABCP Liquidity                    $152.11         $6.85
  AIG Credit                         $60.00        $43.19
  Net Portfolio CP Funding        $1,800.00       $241.31
  Maiden Lane (Bear Stearns)         $29.50        $28.82
  Maiden Lane II  (AIG)              $22.50        $18.54
  Maiden Lane III (AIG)              $30.00        $24.04
  Term Securities Lending           $250.00        $88.55
  Term Auction Facility             $900.00       $468.59
  Securities lending overnight       $10.00         $4.41
  Term Asset-Backed Loan Facility   $900.00         $4.71
  Currency Swaps/Other Assets       $606.00       $377.87
  MMIFF                             $540.00         $0.00
  GSE Debt Purchases                $600.00        $50.39
  GSE Mortgage-Backed Securities  $1,000.00       $236.16
  Citigroup Bailout Fed Portion     $220.40         $0.00
  Bank of America Bailout            $87.20         $0.00
  Commitment to Buy Treasuries      $300.00         $7.50
-----------------------------------------------------------
  FDIC Total                      $2,038.50       $357.50
   Public-Private Investment*       $500.00          0.00
   FDIC Liquidity Guarantees      $1,400.00       $316.50
   GE                               $126.00        $41.00
   Citigroup Bailout FDIC            $10.00         $0.00
   Bank of America Bailout FDIC       $2.50         $0.00
-----------------------------------------------------------
 Treasury Total                   $2,694.00     $1,833.50
  TARP                              $700.00       $599.50
  Tax Break for Banks                $29.00        $29.00
  Stimulus Package (Bush)           $168.00       $168.00
  Stimulus II (Obama)               $787.00       $787.00
  Treasury Exchange Stabilization    $50.00        $50.00
  Student Loan Purchases             $60.00         $0.00
  Support for Fannie/Freddie        $400.00       $200.00
  Line of Credit for FDIC*          $500.00         $0.00
-----------------------------------------------------------
HUD Total                           $300.00       $300.00
  Hope for Homeowners FHA           $300.00       $300.00
-----------------------------------------------------------

So that I am not accused of spreading propaganda as well, it is likewise important to keep in mind that not all of the $12.8 Trillion has been distributed.  While there are very few checks and balances in the bailout, especially once the money has been given to a company, it seems that only about 30% has been distributed, or $4.1 Trillion.  This is substantially smaller than the $12.8 Trillion allocated, but the allocated money will likely continue to line pockets well into the future.

It would be nice to have a media that reports what people need to know, rather than what they are told to report.  The media is not just a propaganda machine, but it is also one of the governments most corrupt branches.  If the people do not become more informed about what is going on, the media will continue to control the thoughts and minds of the people for ages to come.