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(US Treasury)   The US Treasury has recovered 94.5% of the funds disbursed through TARP   (treasury.gov) divider line 307
    More: Spiffy, TARP, treasuries, funds, funds disbursed, United States Department of the Treasury, broker-dealers, American auto industry, blood  
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10832 clicks; posted to Main » on 06 May 2013 at 2:10 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-05-06 01:46:34 PM
1. Get bailout, pull yourself together while everyone sh*ts on you in the media
2. Note that credit is suddenly CHEEEEEEEEEEEEAAAAAP
3. Borrow at 1% from the feds, pay back TARP with some, loan out the rest at 4% or 20% via credit-card users
4. Make a future government bailout seem "safe"

/Note: step 3, per tradition, is "profit"
 
2013-05-06 01:52:39 PM
Is that where the US government tosses a bunch of loose change onto a tarp and then snaps it into the air? Cuz I imagine they're running out of real money about now.
 
2013-05-06 02:11:56 PM
as told us by who?
 
2013-05-06 02:12:46 PM
I remember on FARK when TARP happened tons of people where jumping into the thread swearing up and down 100% of the money would be lost.
 
2013-05-06 02:13:07 PM
I'm ok with this. We can always print more money.

/I've know so many ppl who went to their grave thinking both hyper-inflation and the rapture are just around the corner
//wonder if correlation equals causation?
 
2013-05-06 02:13:16 PM
How DARE you pollute our whargarbl with facts?
 
2013-05-06 02:13:21 PM
Trinkle down is about to hit! I can feel it!
 
2013-05-06 02:14:22 PM

InfrasonicTom: as told us by who?


fire hot
 
2013-05-06 02:14:34 PM
THANKS OBAMA

/history's greatest monster.
 
2013-05-06 02:15:07 PM
TARP was the good kind of socialism - the kind where tax money goes to business.
 
2013-05-06 02:15:56 PM
Thank God for President Bush and the Democrats for pushing through this legislation.
 
2013-05-06 02:17:18 PM
So, the experts who said this wasn't a big deal and the money wasn't being wasted...turn out to be right and all the wailing, squealing children who predicted doom and gloom and fiscal disaster were all wrong?

I. Am. Shocked.

courtsideconvo.com
 
2013-05-06 02:18:26 PM
There is this rule I have heard of, it is called "Buy low, sell high". So when the government buys assets that have massively dropped in price, the chances of them losing a large amount of money on that was always pretty low, even if they deliberately overpaid to help banks liquidity at the time.
 
2013-05-06 02:18:41 PM
What about the other 7 trillion that was loaned out interest free?
 
2013-05-06 02:18:43 PM

rufus-t-firefly: TARP was the good kind of socialism - the kind where tax money goes to business.


Yeah I hate to tell you this but in most socialist countries the tax money goes to business, since gov't is entirely incompetent and outsources everything other than the disbursement of money.
 
2013-05-06 02:19:16 PM

Shaggy_C: Thank God for President Bush and the Democrats for pushing through this legislation.


So now it is Bush's program again. From 2009 to 2012 it was Obama's failure of a plan. So which is it?
 
2013-05-06 02:19:44 PM

InfrasonicTom: as told us by who?


Whom.
 
2013-05-06 02:19:51 PM

libranoelrose: What about the other 7 trillion that was loaned out interest free?


*facepalm* You know the treasury always loans bank money? That's not something new with TARP.
 
2013-05-06 02:20:06 PM

Shaggy_C: Thank God for President Bush and the Democrats for pushing through this legislation.


Probably one of the smartest things Bush did. And I'm one of the libbiest libby libs you'll know around here.
 
2013-05-06 02:20:52 PM
The last time they announced they'd been repaid most of the bailout money it was basically a big lie. They were including future tax credits that congress was giving the big banks as current repayments of their TARP loans... which is just insidious. It's counting more money shovelled out the door to the banks as payments FROM them.

I'm reminded of Maeby on Arrested Development throwing out a banana for every dollar she steals from the register.
 
2013-05-06 02:21:43 PM
What's the Treasury planning on doing with all its preferred GM stock?
 
2013-05-06 02:21:53 PM

theorellior: Shaggy_C: Probably one of the smartest things Bush did.


A textbook example of damning with faint praise.
 
2013-05-06 02:22:14 PM
Good. So we can start raising the Fed Funds rate, now?
 
2013-05-06 02:22:26 PM

InfrasonicTom: as told us by who?


Well if you want to see for yourself, go to FinancialStability.gov where every single contract Treasury signed under its TARP authority is avaialble in full.  Thanks to O and his boys the TARP was probably the most transparent government action in decades
 
2013-05-06 02:22:43 PM

theorellior: THANKS OBAMA

/history's greatest monster.


P-h-lease! Obama is only the 5th greatest monster in history!

He's proceeded by:

1. Cheney: our dark lord and master

2. Gore: Chief of bullshiat

3. bbb-Bush: 'nough said

4. Jane Fonda: the queen of the dirty hippies
 
2013-05-06 02:22:47 PM

ongbok: So now it is Bush's program again. From 2009 to 2012 it was Obama's failure of a plan. So which is it?


It was the Bush plan pushed through congress by the Democrats (and, since at the time Obama was a Senator, he was one of those doing the pushing).  Most Republicans considered Bush a RINO and a liberal by the time he left office; this was just the final screw job he left the party with as he took off for retirement.
 
2013-05-06 02:22:49 PM

Corvus: libranoelrose: What about the other 7 trillion that was loaned out interest free?

*facepalm* You know the treasury always loans bank money? That's not something new with TARP.


You mean the Fed.
 
2013-05-06 02:24:00 PM

iheartscotch: theorellior: THANKS OBAMA

/history's greatest monster.

P-h-lease! Obama is only the 5th greatest monster in history!

He's proceeded by:

1. Cheney: our dark lord and master

2. Gore: Chief of bullshiat

3. bbb-Bush: 'nough said

4. Jane Fonda: the queen of the dirty hippies


I expect Hitler comes in around 23rd?

/godwin
 
2013-05-06 02:24:14 PM
The US Treasury has recovered 94.5% of the funds disbursed through TARP


(really, we have. you can trust us)     snicker.
 
2013-05-06 02:24:58 PM

God-is-a-Taco: Trinkle down is about to hit! I can feel it!



the whole nation has been trickled on and is loving it!!!
 
2013-05-06 02:25:44 PM

libranoelrose: What about the other 7 trillion that was loaned out interest free?



ah-hem!   we, ah, ah, we're working on that and will get back to you.     snicker.
 
2013-05-06 02:25:51 PM

ongbok: Shaggy_C: Thank God for President Bush and the Democrats for pushing through this legislation.

So now it is Bush's program again. From 2009 to 2012 it was Obama's failure of a plan. So which is it?


On which side of the political fence do you sit?

R: Bush was great and all good things he did, everything bad is Obama's fault
D: Bush was a clueless twit and if we didn't have the Dems around back then we would have been in worse trouble.

/Pick your cult.
 
2013-05-06 02:27:00 PM

libranoelrose: What about the other 7 trillion that was loaned out interest free?


You mean $16 trillion in low interest loans?

Yeah, most of those loans lasted a day or 2. That claim was one of the most disingenuous ones surrounding this whole ordeal.
 
2013-05-06 02:27:41 PM

Linux_Yes: libranoelrose: What about the other 7 trillion that was loaned out interest free?


ah-hem!   we, ah, ah, we're working on that and will get back to you.     snicker.


You seem very ignorant on this subject.
 
2013-05-06 02:27:41 PM

theorellior: THANKS OBAMA

/history's greatest monster.


He is the Antichrist.  I know because some hillbilly religious radio station in Indiana told me last week.
 
2013-05-06 02:28:19 PM
Wrong tag

Should of used 'unlikely' tag instead.
 
2013-05-06 02:29:30 PM
the Fact that Trillions in wealth owned by the middle/working classes disappeared from this Nation during 08/09 proves that the Crooks (wall street, et al.) will be back again sometime in the future to do it again. they're outlandish success will ensure it.

the only question is when and how will it be done this time.   its inevitable. that's what crony capitalists do when they own the government that is supposed to watch and make sure everyone plays by the same rules.
 
2013-05-06 02:29:55 PM

impaler: Corvus: libranoelrose: What about the other 7 trillion that was loaned out interest free?

*facepalm* You know the treasury always loans bank money? That's not something new with TARP.

You mean the Fed.


Sorry yes. I mean the FED. You are correct.
 
2013-05-06 02:30:51 PM

impaler: Linux_Yes: libranoelrose: What about the other 7 trillion that was loaned out interest free?


ah-hem!   we, ah, ah, we're working on that and will get back to you.     snicker.

You seem very ignorant on this subject.



you are correct. i am ignorant of the methods that Bankers used to rob this Nation.  they got away with a whole lotta money and you don't know different.

just like they like it.
 
m00
2013-05-06 02:31:08 PM
What about adjusted for inflation?


Corvus: I remember on FARK when TARP happened tons of people where jumping into the thread swearing up and down 100% of the money would be lost.


It's not so much this... because money doesn't get "lost" it just gets redistributed (to the wealthy, in this day and age).

So here is what's funny... TARP is "trickle down economics." From the article: "TARP's emergency support to GM during the financial crisis was necessary to prevent the collapse of the American auto industry and save more than one million American jobs," The premise of TARP is that you give money to a large corporation because they create jobs, you give money to large banks because they issue loans. That's trickle down economics. Obama has implemented trickle-down economics, and liberals are praising him for it while conservatives are criticizing him for it. We have entered the age of blind-allegiance ideology-free politics. I say ideology free, because it's ideology-of-the-moment... your ideology is whatever your party says it is that week. Because, if Republicans were actually ideologues, they would say "See, Obama has proven trickle-down economics works. He did a great job! Therefor we should use trickle-down-economics all the time!" And liberals should point out we are in a job-free recovery, and that TARP money would be better spent on public works, not private corporations. I'm just saying, that would be ideologically consistent. But because we're in blind-allegiance-land, hypothetically if Obama came out against abortion tomorrow then Democrats would always have been pro-life, and Republicans would be clamoring about woman's rights. This sort of thinking has completely removed any actual performance concerns from the minds of the politician class -- half the people will love them no matter, half the people will hate them no matter what. Frees them up to do what they want. And I hate to break it to you folks, but what politicians want deep down in their hearts is not necessarily what's good for us little people.
 
2013-05-06 02:31:33 PM

Linux_Yes: the Fact that Trillions in wealth owned by the middle/working classes disappeared from this Nation during 08/09 proves that the Crooks (wall street, et al.) will be back again sometime in the future to do it again. they're outlandish success will ensure it.

the only question is when and how will it be done this time.   its inevitable. that's what crony capitalists do when they own the government that is supposed to watch and make sure everyone plays by the same rules.


You're a live one, what are you thoughts on fluoride?
 
2013-05-06 02:32:16 PM
24.media.tumblr.com
 
2013-05-06 02:35:26 PM

DubtodaIll: What's the Treasury planning on doing with all its preferred GM stock?


This morning's headline . . .
"Treasury says to begin selling remaining GM stake"

So my guess is that they're selling that stock.
 
2013-05-06 02:35:52 PM

m00: What about adjusted for inflation?


Corvus: I remember on FARK when TARP happened tons of people where jumping into the thread swearing up and down 100% of the money would be lost.

It's not so much this... because money doesn't get "lost" it just gets redistributed (to the wealthy, in this day and age).

So here is what's funny... TARP is "trickle down economics." From the article: "TARP's emergency support to GM during the financial crisis was necessary to prevent the collapse of the American auto industry and save more than one million American jobs," The premise of TARP is that you give money to a large corporation because they create jobs, you give money to large banks because they issue loans. That's trickle down economics. Obama has implemented trickle-down economics, and liberals are praising him for it while conservatives are criticizing him for it. We have entered the age of blind-allegiance ideology-free politics. I say ideology free, because it's ideology-of-the-moment... your ideology is whatever your party says it is that week. Because, if Republicans were actually ideologues, they would say "See, Obama has proven trickle-down economics works. He did a great job! Therefor we should use trickle-down-economics all the time!" And liberals should point out we are in a job-free recovery, and that TARP money would be better spent on public works, not private corporations. I'm just saying, that would be ideologically consistent. But because we're in blind-allegiance-land, hypothetically if Obama came out against abortion tomorrow then Democrats would always have been pro-life, and Republicans would be clamoring about woman's rights. This sort of thinking has completely removed any actual performance concerns from the minds of the politician class -- half the people will love them no matter, half the people will hate them no matter what. Frees them up to do what they want. And I hate to break it to you folks, but what politicians want deep down in their heart ...


No it's not. No one except idiots don't think banks are important to an economy, that's not "trickle down". Yes maybe saving the banks didn't create lots of jobs what it did do was make it so business didn't go bankrupt left and right because they couldn't get loans anymore. Was TARP a good thing to have to do? NO. But if we didn't do it things would have been much much worse.

What you are talking about is growing an economy. What you do to grow an economy and what you do to stop a financial collapse are two different things, you seem to be confusing the two.
 
2013-05-06 02:36:37 PM

DubtodaIll: Linux_Yes: the Fact that Trillions in wealth owned by the middle/working classes disappeared from this Nation during 08/09 proves that the Crooks (wall street, et al.) will be back again sometime in the future to do it again. they're outlandish success will ensure it.

the only question is when and how will it be done this time.   its inevitable. that's what crony capitalists do when they own the government that is supposed to watch and make sure everyone plays by the same rules.

You're a live one, what are you thoughts on fluoride?



someone needs to do some more googlin' and stop watching billionaire owned Foxhole news for "news". you won't get it on Fox or most other big business owned propaganda networks.

they call it Freedom. the Freedom to keep you snowed while they do their dirty work.
 
2013-05-06 02:36:42 PM

Linux_Yes: the Fact that Trillions in wealth owned by the middle/working classes disappeared from this Nation during 08/09 proves that the Crooks (wall street, et al.) will be back again sometime in the future to do it again. they're outlandish success will ensure it.

the only question is when and how will it be done this time.   its inevitable. that's what crony capitalists do when they own the government that is supposed to watch and make sure everyone plays by the same rules.


So the Crooks are going to make trillions in wealth vanish into air again, rather than line their pockets with it?  Because deflation of assets has worked SO well at making people rich throughout history.  True a small number of people profited while the housing bubble burst, but it was a small fraction of the profits they were pulling out of the mortgage industry before the bubble burst.  If you'd said they were going to force another bubble to get filthy rich based on things that don't exist, cool, I'd be on board with that.  But the notion that they're going to trigger another collapse because of the reduced profits they can reap on the way down is just silly.
 
2013-05-06 02:37:38 PM

mongbiohazard: The last time they announced they'd been repaid most of the bailout money it was basically a big lie. They were including future tax credits that congress was giving the big banks as current repayments of their TARP loans... which is just insidious. It's counting more money shovelled out the door to the banks as payments FROM them.

I'm reminded of Maeby on Arrested Development throwing out a banana for every dollar she steals from the register.


If it's not clear, I'm highly skeptical of the veracity of the claim that 94.5% of the funds have been repaid.

It's been a lie each time they've hit their previous milestones - with a big shell game basically being played to pretend like we'd gotten money back we hadn't (and perversely, counting future cash transfers to the banks in the form of special tax credits as current loan payments) - so I'm assuming these claims are exaggerated as well until we can get some independent verification. Wish I had time to pore over Treasury reports to check for myself, but I don't.

Just in case you think I'm making this up, here's a couple of examples of the sleight-of-hand which has already been used to make it look like more TARP money is being paid back then actually is. And that's even assuming they're not underreporting the amount of loans out to the banks and other big institutions which we bailed out.

So we should all be taking a HUGE - house-sized - grain of salt with this claim.
 
2013-05-06 02:37:42 PM
This is all smoke and mirrors...

1. Offer bailout money to the Auto industry
2. Offer a "Cash for Clunkers" program to get people to buy cars
3. Spend over 1 trillion to pay for the program incentives
4. Car companies make a ton of money, pay back the funds
5. Everyone rejoices and calls it a victory

Meanwhile we are out 1 trillion on future debt, and the auto industry doesn't have to alter it's broken system and its ridiculous union requirements that make it cost more to make a car than what they can sell it for. I guarantee you the auto industry will go broke again in 5 years or less. Until the system is changed so that car companies can turn a profit in a normal economy, there is no hope of a recovery.
 
2013-05-06 02:38:03 PM

DubtodaIll: Linux_Yes: the Fact that Trillions in wealth owned by the middle/working classes disappeared from this Nation during 08/09 proves that the Crooks (wall street, et al.) will be back again sometime in the future to do it again. they're outlandish success will ensure it.

the only question is when and how will it be done this time.   its inevitable. that's what crony capitalists do when they own the government that is supposed to watch and make sure everyone plays by the same rules.

You're a live one, what are you thoughts on fluoride?


Seriously! Not saying both sides are bad, but clearly the paranoid derp swings both ways. Must be all the chemtrails these days.
 
2013-05-06 02:38:15 PM

MrSteve007: DubtodaIll: What's the Treasury planning on doing with all its preferred GM stock?

This morning's headline . . .
"Treasury says to begin selling remaining GM stake"

So my guess is that they're selling that stock.


Well yeah, the articles are about them selling the common stock.  I seem to recall them getting a good deal of preferred stock in the original deal, but my memory is foggy and tends to make things up to fit my world view.
 
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