TARP Profit A Myth, Claims TARP Inspector General Christy Romero

[MrDeeds]

TARP Profit A Myth, Claims TARP Inspector General Christy Romero

[Gehringer_2]

TARP Profit A Myth, Claims TARP Inspector General Christy Romero

This is such a retcon. The Gov shoveled something close to a trillion dollars out the door quite willing to lose it all just to forestall disaster. So now whether they end up 100 billion short or 50 billion over after all the dust clears is so much better than there was ever any hope for at the time that I don't see why it's worth worrying about. The number will be what it will be in the end. Heck, conservatives should be happy if it doesn't make an outright profit. If it does, it would a be a pretty good argument that we should do it all again, this time in the name of deficit reduction! --- I'm sure that is not what US conservatives would want to see.

[screwball]

TARP is a sideshow used by the politico's to spew BS. TARP was a revolving loan, intended to be paid back. This limits the conversation to TARP - and not Maiden Lane I, II, III, QE2, Operation Twist and ZIRP, not to mention FASB 157 among the other "gifts" given to the Wall Street criminals. Frank-Dodd is not even 50 percent implemented, and what has been, has been diluted and watered down.

To this very day, the policy in DC and the Fed has been to prop up these still insolvent banking institutions and their gambling ways.

They will blow up again, and we will bail them out again. They will only be a little bigger this time (over 700 trillion in global derivatives according to the latest numbers by the BIS). When we start hearing we have a financial problem, but they tell us everything is "contained" or "transitory" you will know we have a problem.

According to many sources (and it varies) we gave the banks somewhere between 8 and 12 trillion dollars, via the programs I listed above, through the taxpayer, the Fed, FDIC, and the FRBNY.

How's it feel?

[rhino]

How's it feel?

A man was heard to have said, long about the 60th floor, right after he jumped from the top of the Empire State Building, "So far, so good!"

[screwball]

A man was heard to have said, long about the 60th floor, right after he jumped from the top of the Empire State Building, "So far, so good!"

LOL! Good one. <golf clap>

[MrDeeds]

and on que...here comes helicopter ben!

[MrDeeds]

This is such a retcon. The Gov shoveled something close to a trillion dollars out the door quite willing to lose it all just to forestall disaster. So now whether they end up 100 billion short or 50 billion over after all the dust clears is so much better than there was ever any hope for at the time that I don't see why it's worth worrying about. The number will be what it will be in the end. Heck, conservatives should be happy if it doesn't make an outright profit. If it does, it would a be a pretty good argument that we should do it all again, this time in the name of deficit reduction! --- I'm sure that is not what US conservatives would want to see.

Your attack on conservatives doesn't address the possibility of TARP having created an even greater disaster.

[Gehringer_2]

Your attack on conservatives doesn't address the possibility of TARP having created an even greater disaster.

Hardly an attack, only an observation that if Tarp did turn out to make money if would not fit very will with the conservative narrative about it. I don't think that is a very 'attack'ish thing to observe.

[screwball]

Related article just out today. This lady is pretty good IMHO, and well respected as well.

Finding the Culprits of the Crisis - Derivatives expert Janet Tavakoli takes a hard look at what — and who — caused the financial crisis.

[pfife]

TARP is a sideshow used by the politico's to spew BS. TARP was a revolving loan, intended to be paid back. This limits the conversation to TARP - and not Maiden Lane I, II, III, QE2, Operation Twist and ZIRP, not to mention FASB 157 among the other "gifts" given to the Wall Street criminals. Frank-Dodd is not even 50 percent implemented, and what has been, has been diluted and watered down.

To this very day, the policy in DC and the Fed has been to prop up these still insolvent banking institutions and their gambling ways.

They will blow up again, and we will bail them out again. They will only be a little bigger this time (over 700 trillion in global derivatives according to the latest numbers by the BIS). When we start hearing we have a financial problem, but they tell us everything is "contained" or "transitory" you will know we have a problem.

According to many sources (and it varies) we gave the banks somewhere between 8 and 12 trillion dollars, via the programs I listed above, through the taxpayer, the Fed, FDIC, and the FRBNY.

How's it feel?

YESSIR!

The number I saw on tv for the total amount for bailing out these bitches got was closer to 7.7trillion (not a typo) when you include all of the stuff you mentioned.

[pfife]

Class warfare

[Mr.TaterSalad]

I still am not quite sure what disaster would have occurred without TARP. I mean, the big banks aren't lending, unemployment has reached 10 plus percent and the economy is moving along like a Model T. But we had to have it right?

[Mr.TaterSalad]

Was TARP Good for the Taxpayers?

[screwball]

I still am not quite sure what disaster would have occurred without TARP. I mean, the big banks aren't lending, unemployment has reached 10 plus percent and the economy is moving along like a Model T. But we had to have it right?

See no farther than Iceland. They blew up, they felt some pain, and they are now growing again. They even threw bankers in jail.

Gee, what a concept.

[Mr.TaterSalad]

You mean we'd have had to go through the bad to get to the good, noooooooo!