If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Fox Business)   Obama on TARP: "We got back every dime we used to rescue the financial system, but we also passed a historic law to end taxpayer-funded Wall Street bailouts for good. " According to ProPublica that statement is off by only $174 billion   (foxbusiness.com) divider line 170
    More: Obvious, Wall Street bailout, Wall Street, ProPublica, A123 Systems, CIT, taxpayers, taxpayer-funded  
•       •       •

1452 clicks; posted to Politics » on 19 Oct 2012 at 3:57 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



170 Comments   (+0 »)
   
View Voting Results: Smartest and Funniest

Archived thread

First | « | 1 | 2 | 3 | 4 | » | Last | Show all
 
2012-10-19 09:02:34 AM
Who farking cares?
 
2012-10-19 09:04:42 AM
I like how they basically imply that Obama is responsible for TARP when, you know, it was signed before he became President.
 
2012-10-19 09:05:26 AM

cretinbob: Who farking cares?


Taxpayers?
 
2012-10-19 09:22:25 AM
Oh, Fox Business... You do try so very, very hard, don't you?
 
2012-10-19 09:26:16 AM

Aarontology: I like how they basically imply that Obama is responsible for TARP when, you know, it was signed before he became President.



this

People who claim to understand investing, don't understand investing
 
2012-10-19 10:56:08 AM

Aarontology: I like how they basically imply that Obama is responsible for TARP when, you know, it was signed before he became President.


And while it was badly written, IMO, it was clearly necessary Bush's failure to rescue Lehman Brothers prompted a cascade reaction that nearly took out the core of the world's financial system.

If we want to blame excessive spending, why not point to that as proof of badly mismanaged spending since rescuing Lehman could have prevented the much more expensive cascade?
 
2012-10-19 11:07:33 AM

Aarontology: I like how they basically imply that Obama is responsible for TARP when, you know, it was signed before he became President.


This times a bajillion.
Ffs.
 
2012-10-19 12:14:23 PM
One of the few things Bush did that I agreed with.
 
2012-10-19 12:23:02 PM
Link
"The government committed bailout money to 924 recipients. Those recipients have received a total of $416 billion. A total of $343 billion has been returned.

The Treasury has been earning a return on most of the TARP money invested or loaned. So far, the total return is: $41.7B."

$416 out, $385 back. We're currently down $30.

"The government has made some money on the deal for itself- some $87.3 billion, but I'd advise you not to look for it in your refund check. As we've seen, the money, or at least the biggest stakes, tend to go to cronies. Not you and me."

No dumbarse, it goes to the Treasury.
 
2012-10-19 12:31:14 PM

GAT_00: And while it was badly written, IMO, it was clearly necessary Bush's failure to rescue Lehman Brothers prompted a cascade reaction that nearly took out the core of the world's financial system.

If we want to blame excessive spending, why not point to that as proof of badly mismanaged spending since rescuing Lehman could have prevented the much more expensive cascade?


I completely agree.

I just take issue with them conveniently forgetting that Obama didn't sign it into law.
 
2012-10-19 12:35:44 PM
If you're so opposed to TARP (unlike, say, George Bush, Barack Obama and John McCain) and don't feel like entering another depression when a bank farks up, vote for Democrats so we get regulations with teeth again.

Yes, Clinton signed the repeal of Glass-Steagall. You think Romney and a Republican House will reintroduce it and improve Dodd-Frank?
 
2012-10-19 12:42:01 PM
Ugh, why did I read the comments?

i.imgur.com
 
2012-10-19 12:53:33 PM
Every dime? I wish it were true, but unfortunately the taxpayer is still out of pocket on the bailout of the financial industry. Naturally, Fannie Mae and Freddie Mac lead the way. Together they owe taxpayers $140 billion, actually more.


so...does anyone want to tell this person that the fannie/freddie takeovers weren't part of TARP?
 
2012-10-19 01:02:39 PM

iStig: Ugh, why did I read the comments?

[i.imgur.com image 598x131]


That's so awesome. You can almost FEEL the Fox News sweats coming off poor Julian.
 
2012-10-19 01:03:11 PM
I actually opened this article to make sure I was exposed to positions and news I wouldn't necessarily like only to find myself faced with a blog full of derp.
 
2012-10-19 01:06:01 PM

Lumpmoose: Yes, Clinton signed the repeal of Glass-Steagall. You think Romney and a Republican House will reintroduce it and improve Dodd-Frank?


No, but I don't expect Obama to either.
 
2012-10-19 01:24:57 PM

Aarontology: Lumpmoose: Yes, Clinton signed the repeal of Glass-Steagall. You think Romney and a Republican House will reintroduce it and improve Dodd-Frank?

No, but I don't expect Obama to either.


Exactly. I'm willing to give Obama some latitude on having to deal with an intransigent Congress, but he chose who he surrounded himself with, and it was the same Clintonite, neoliberal Wall Street types that pushed for Glass-Steagall repeal. And some of those people have the nerve to continue to support that decision! He's given us no reason to believe he'll be any different in the second term, unfortunately. I just don't see him hiring Krugman or Stiglitz or Warren for his cabinet.
 
2012-10-19 01:34:22 PM
what the hell is a Vhrysler?
 
2012-10-19 01:44:52 PM

Aarontology: GAT_00: And while it was badly written, IMO, it was clearly necessary Bush's failure to rescue Lehman Brothers prompted a cascade reaction that nearly took out the core of the world's financial system.

If we want to blame excessive spending, why not point to that as proof of badly mismanaged spending since rescuing Lehman could have prevented the much more expensive cascade?

I completely agree.

I just take issue with them conveniently forgetting that Obama didn't sign it into law.


I think that pointing at the date at this point is unlikely to convince anyone. Anyone who blames Obama for TARP is the kind of person who has just conveniently forgotten the previous 8 years.
 
2012-10-19 02:07:53 PM
W was given a choice between a bailout, or Great Depression 2: Electric Boogaloo. For likely the only time in his tenure as POTUS, W made the right call.
 
2012-10-19 02:10:08 PM
Clinton signed a veto-proof repeal of Glass-Steagall. The only thing you can pin him on is he didn't veto it for symbolic reasons.
 
2012-10-19 02:33:43 PM

iStig: Ugh, why did I read the comments?

[i.imgur.com image 598x131]


I read the comments because they elicit an exhilarating combination of hilarity and terror. I imagine this is as close as my cowardly ass will get to the adrenaline rush of BASE jumping.

i159.photobucket.com 

GOD WILL SAVE US through the vehicle of Romney/Ryan who might even become REAL Christians if we pray hard enough!!
 
2012-10-19 02:44:01 PM

Koggie: Clinton signed a veto-proof repeal of Glass-Steagall. The only thing you can pin him on is he didn't veto it for symbolic reasons.


I wish he would have.
 
2012-10-19 03:20:08 PM

Lionel Mandrake: GOD WILL SAVE US through the vehicle of Romney/Ryan who might even become REAL Christians if we pray hard enough!!


He is cleaner on the outside. Whatever that means. You can't deny that.
 
182
2012-10-19 03:59:45 PM

CreamFilling: cretinbob: Who farking cares?

Taxpayers?


you mean the 53% that pays taxes?
 
2012-10-19 03:59:51 PM
Wait, Obama is responsible for TARP now? What can we blam on him next, the Teapot Dome scandal?
 
2012-10-19 03:59:53 PM
cretinbob


Who farking cares?



Taxpayers, Republicans, Seekers of the Truth?
 
2012-10-19 04:02:05 PM
CPennypacker

Wait, Obama is responsible for TARP now? What can we blam on him next, the Teapot Dome scandal?



I don't think Obama is anymore responsible for TARP than he is for telling the truth.
 
2012-10-19 04:02:46 PM

karnal: Republicans, Seekers of the Truth?


Oxymoronic statement is oxymoronic
 
2012-10-19 04:03:07 PM
After reading TFA, weren't Fannie/Freddie and GMAC SEPARATE from TARP?

How is TARP on the hook for companies not affiliated with it?
 
2012-10-19 04:03:14 PM

CPennypacker: Wait, Obama is responsible for TARP now? What can we blam on him next, the Teapot Dome scandal?


Crystal Pepsi.
 
2012-10-19 04:04:05 PM

impaler: Lionel Mandrake: GOD WILL SAVE US through the vehicle of Romney/Ryan who might even become REAL Christians if we pray hard enough!!

He is cleaner on the outside. Whatever that means. You can't deny that.


He shaves with lasers.
 
2012-10-19 04:04:31 PM

fuhfuhfuh: CPennypacker: Wait, Obama is responsible for TARP now? What can we blam on him next, the Teapot Dome scandal?

Crystal Pepsi.


Obama is responsible for Crystal Pepsi?!?!?!

That's it. I'm voting Romney.
 
2012-10-19 04:05:06 PM
The TARP program was largely successful and it was started under Bush. Soooo I'm not really sure what angle anybody is coming from on this.
 
2012-10-19 04:05:14 PM

Lionel Mandrake: iStig: Ugh, why did I read the comments?

[i.imgur.com image 598x131]

I read the comments because they elicit an exhilarating combination of hilarity and terror. I imagine this is as close as my cowardly ass will get to the adrenaline rush of BASE jumping.

[i159.photobucket.com image 656x250] 

GOD WILL SAVE US through the vehicle of Romney/Ryan who might even become REAL Christians if we pray hard enough!!


"Cleaner on the outside than most Christians"? What does this even mean?
 
2012-10-19 04:05:34 PM

Three Crooked Squirrels: One of the few things Bush did that I agreed with.


I gotta agree with this, too. Its one of those things that had to happen given the extreme circumstances. I have no idea why this has become an issue to blame either administration for. Things would have been far far FAR worse otherwise.
 
2012-10-19 04:07:12 PM
Lionel Mandrake


karnal: Republicans, Seekers of the Truth?

Oxymoronic statement is oxymoronic



And ostriches don't hide their heads in the sand - but Obama liberals sure do.
 
2012-10-19 04:07:36 PM
Wow, she's stupid.

Fannie and Freddie nationalization: Not part of the TARP program, The Federal Housing Finance Agency (FHFA) was created on July 30, 2008, or 3months before TARP

AIG: OMG they still owe us $2.5 Billion of the nearly *) billion we lent them, and we still hold perferred stock in the company worth much more than that

GM and Chrysler: Again not really part of the original TARP , but we'll include them and note the Jury is still out on how much we'll make/lose on them


as for the $245 Billion we gave to the banks. Here's where we were 18 months ago on that:

On Wednesday, Treasury announced that Fifth Third Bancorp of Cincinnati had fully repaid its outstanding $3.4 billion loan. That means banks have paid the government $243 billion of the original $245 billion in TARP loans.

Not every bank has repaid the government, but Treasury is making a mint off the interest. The department currently estimates that TARP bank loans will ultimately provide a lifetime profit of nearly $20 billion to taxpayers.


hell the opnly thing that has consistently lost money is the cash we gave to troubled homeowners because HAMP was a poorly concieved clusterfark of a fig leaf that was tacked on to TARP
 
2012-10-19 04:08:45 PM
 
2012-10-19 04:08:45 PM

doyner: After reading TFA, weren't Fannie/Freddie and GMAC SEPARATE from TARP??


Depends what you mean by 'Fannie/Freddie'. The government takeover of Fannie/Freddie was separate. TARP allows purchasing of specific undervalued assets to be later sold, and plenty were bought from Fannie/Freddie.
 
2012-10-19 04:09:20 PM

CreamFilling: cretinbob: Who farking cares?

Taxpayers?


better link Link

I disagree with the TARP but it is actually on track to make revenue instead of losing any.
 
2012-10-19 04:09:41 PM

karnal: And ostriches don't hide their heads in the sand - but Obama liberals sure do.


Is that all you got?

Lame!
 
2012-10-19 04:10:25 PM

qorkfiend: "Cleaner on the outside than most Christians"? What does this even mean?


He's not a blah protestant like the President?
 
2012-10-19 04:10:51 PM

qorkfiend: Lionel Mandrake: iStig: Ugh, why did I read the comments?

[i.imgur.com image 598x131]

I read the comments because they elicit an exhilarating combination of hilarity and terror. I imagine this is as close as my cowardly ass will get to the adrenaline rush of BASE jumping.

[i159.photobucket.com image 656x250] 

GOD WILL SAVE US through the vehicle of Romney/Ryan who might even become REAL Christians if we pray hard enough!!

"Cleaner on the outside than most Christians"? What does this even mean?


Its the Magic Underwear (tm)
 
2012-10-19 04:11:25 PM
mpirooz

The TARP program was largely successful and it was started under Bush. Soooo I'm not really sure what angle anybody is coming from on this.



The "angle" isn't that TARP is Obama's baby as much as it is that Obama said all of the bailout money has been paid back when it hasn't been.....either making it another big lie or maybe Hillary's fault for poor communication.
 
2012-10-19 04:11:36 PM

doyner: fuhfuhfuh: CPennypacker: Wait, Obama is responsible for TARP now? What can we blam on him next, the Teapot Dome scandal?

Crystal Pepsi.

Obama is responsible for Crystal Pepsi?!?!?!

That's it. I'm voting Romney.


Ok, after Wikiing I see I was wrong....GMAC did receive funds it hasn't paid back yet...

Still, there has been a shiat ton of it paid back.

The real crime (if they care to delve into it) is the Federal reserve loaning money to banks at .5% interest and then said banks use that money to buy US securities at upwards of 3.5%
 
2012-10-19 04:12:25 PM

iStig: Ugh, why did I read the comments?

[i.imgur.com image 598x131]


What lies? Name ONE lie?

Well I can't name one, but I can name 533 lies, but that only covers a 30-week period, and fully admits it doesn't pretend to be all-inclusive.

If that's the level of delusion, I can't imagine what America they think they're living in.
 
2012-10-19 04:13:02 PM

Bontesla: Aarontology: I like how they basically imply that Obama is responsible for TARP when, you know, it was signed before he became President.

This times a bajillion.
Ffs.


Though it is VERY important to note that while Obama did not pass TARP, he, or more properly the people he put in place at Treasury ARE responsible for much of the profit TARP has made. Unlike their more banking friendly predecessors, the new Obama TARP team took a much harder line on what the "fair market value" was of those perferred stock warrants that banks had to hand over to get TARP money. So when banks went to buy them back to get Treasuryout of thier hair, they had to share much more of the record profits they booked post-meltdown than they originally anticipated, and they were NOT happy about that (apparently Paulson's team had them convinced that they'd be able to redeem them for a fraction of thier true worth)
 
2012-10-19 04:13:13 PM
cretinbob
Who farking cares?

3.bp.blogspot.com
 
2012-10-19 04:15:42 PM
who cares? it's election season and obama needs to say these things.
 
Displayed 50 of 170 comments

First | « | 1 | 2 | 3 | 4 | » | Last | Show all

View Voting Results: Smartest and Funniest


This thread is archived, and closed to new comments.

Continue Farking
Submit a Link »






Report