Skip to content
 
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.

(ABC News)   Bank profits soared in 2021. Banks surely happy to finally repay US for their 2008 bailout in 3... 2... 1... 0... -1... -2... -3 ...you know what, never mind   (abcnews.go.com) divider line
    More: Interesting, Inflation, nation's biggest banks, Bank of America, Central bank, Labor markets, Monetary policy, Interest rate, higher inflation  
•       •       •

639 clicks; posted to Business » on 15 Jan 2022 at 9:53 PM (17 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



38 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-01-15 10:45:59 PM  
Well good news subby, looks like the vast majority have unless you want to bash smaller local banks. The majors i.e. Chase, Bank of America, Wells Fargo, Goldman Sachs etc. have fulfilled their so called "repayment" for the bailout.

https://projects.propublica.org/bailout/
 
2022-01-15 10:47:41 PM  
THE BANKS OWE US.

MAKE THEM PAY US BACK THE MONEY WE SPENT TO KEEP THEM AFLOAT.
 
2022-01-15 10:48:13 PM  
Banks did more than pay back their bailouts though?

Altogether, accounting for both the TARP and the Fannie and Freddie bailout, $635B has gone out the door.
Money has been coming back in two ways: $390B of principal has been repaid, and the Treasury has collected revenue from its investments of $353B.

In total, the government has realized a $109B profit as of August 30, 2021.


https://projects.propublica.org/bailout/
 
2022-01-15 11:10:43 PM  
Eventually the peasants will revolt. I don't know when (I feel like it's a looooong ways away), but it's inevitable because the wealthy are incapable of staunching their greed. They'll take and take and take and eventually get their heads chopped off.

Just wish it would happen sooner.
 
2022-01-15 11:17:38 PM  
You know what , we have a new bill the Progressives will love.
We give those poor bankers more money to try and overcome their redlining and Wells Fargo making them look bad.
We can't go wrong? I can see 20 Republicans voting for it because there is nothing better than bi-partisan support.
No oversight of course, because oversight would be oppressive to progressives.
Jerome Powell is a hero to a "populist" president so BernieBros can't talk bad about his keep the bubble expanding policy.
 
2022-01-15 11:30:27 PM  

dumbobruni: Banks did more than pay back their bailouts though?

Altogether, accounting for both the TARP and the Fannie and Freddie bailout, $635B has gone out the door.
Money has been coming back in two ways: $390B of principal has been repaid, and the Treasury has collected revenue from its investments of $353B.

In total, the government has realized a $109B profit as of August 30, 2021.

https://projects.propublica.org/bailout/


Oh good, the government profited.

How much is minimum wage, again? How much are banking fees and overdraft fees?

Cool, cool.
 
2022-01-15 11:35:19 PM  
Like, so many Americans lost their homes. So many. But hey, it's great that the federal government got to make billions off of the whole affair.
 
2022-01-16 12:04:08 AM  
Whether they paid it back or not, the bailout was a failure because it did nothing to fix the problems that caused it.  Whether it's a bubble or not, the ridiculous cost of housing and the role the banks play in that are nothing short of criminal.
 
2022-01-16 12:07:44 AM  

Moose out front: Eventually the peasants will revolt.


The Montréal Canadiens also stink on ice.
 
2022-01-16 3:59:19 AM  
They already did. There's nothing to pay back. They didn't borrow or steal from anybody.

The problem is not the banks.

The problem is the bankers.
 
2022-01-16 4:01:19 AM  

Meat's dream: Whether they paid it back or not, the bailout was a failure because it did nothing to fix the problems that caused it.  Whether it's a bubble or not, the ridiculous cost of housing and the role the banks play in that are nothing short of criminal.


This part is true.

The bailout was a tourniquet to stop the bleeding. But it did nothing to actually heal the wound.

The wound is still an open gash.
 
2022-01-16 6:52:12 AM  

Moose out front: Eventually the peasants will revolt.


Also part of the plan, filed under "population reduction options."
 
2022-01-16 8:53:52 AM  
I will believe that there is real effort for social reform when the minimum wage is tied to inflation. Until then, it's all socialize the losses and keep the profits.
 
2022-01-16 9:39:11 AM  

Meat's dream: Whether they paid it back or not, the bailout was a failure because it did nothing to fix the problems that caused it.  Whether it's a bubble or not, the ridiculous cost of housing and the role the banks play in that are nothing short of criminal.


Look up the Dodd-Frank Act. That wasn't "nothing".
 
2022-01-16 10:38:09 AM  

Meat's dream: Whether they paid it back or not, the bailout was a failure because it did nothing to fix the problems that caused it.  Whether it's a bubble or not, the ridiculous cost of housing and the role the banks play in that are nothing short of criminal.


Do you know what would have happened without it?  It wasn't perfect but it was far from a failure.
 
2022-01-16 10:51:38 AM  

jjorsett: Meat's dream: Whether they paid it back or not, the bailout was a failure because it did nothing to fix the problems that caused it.  Whether it's a bubble or not, the ridiculous cost of housing and the role the banks play in that are nothing short of criminal.

Look up the Dodd-Frank Act. That wasn't "nothing".


Look up the ratio of median income to median home price.  It was worse than nothing.
 
2022-01-16 10:58:57 AM  

austerity101: dumbobruni: Banks did more than pay back their bailouts though?

Altogether, accounting for both the TARP and the Fannie and Freddie bailout, $635B has gone out the door.
Money has been coming back in two ways: $390B of principal has been repaid, and the Treasury has collected revenue from its investments of $353B.

In total, the government has realized a $109B profit as of August 30, 2021.

https://projects.propublica.org/bailout/

Oh good, the government profited.

How much is minimum wage, again? How much are banking fees and overdraft fees?

Cool, cool.


Whataboutisms in my fark? Color me shocked
 
2022-01-16 12:14:26 PM  
Banks made record profits? Shouldn't we be regulating banks to not make any profits since it's an essential service now (especially during an economic downturn)? Banks should be considered a public utility.
 
2022-01-16 12:43:23 PM  
When the people out of work get jobs, are they going to pay back the money Grandpa Joe gave them?

/is this thing on?
 
2022-01-16 12:54:49 PM  

Meat's dream: Whether they paid it back or not, the bailout was a failure because it did nothing to fix the problems that caused it.  Whether it's a bubble or not, the ridiculous cost of housing and the role the banks play in that are nothing short of criminal.


You and I are light-years apart on what we think the bailouts were for. The bailouts weren't supposed to be some sort of magic way to fix all the economic problems for all time. They were to prevent a run on the banks and total collapse of the financial system. The Fed was doing exactly what it was set up to do: Be a lender of last resort.
 
2022-01-16 1:04:26 PM  
You know, people don't have to use a bank. I've been using credit unions since my first job in 1983.
 
2022-01-16 1:19:32 PM  

misanthropicsob: Banks made record profits? Shouldn't we be regulating banks to not make any profits since it's an essential service now (especially during an economic downturn)? Banks should be considered a public utility.


Public utilities make money. How do you think they repay their bonds?
 
2022-01-16 1:26:36 PM  

Daer21: misanthropicsob: Banks made record profits? Shouldn't we be regulating banks to not make any profits since it's an essential service now (especially during an economic downturn)? Banks should be considered a public utility.

Public utilities make money. How do you think they repay their bonds?


Most of those yields are not the same as bank yields.
 
2022-01-16 2:10:08 PM  
Those were already paid back submitter.

Your willful ignorance would be better welcome in the Republican party.
 
2022-01-16 2:39:47 PM  

misanthropicsob: Daer21: misanthropicsob: Banks made record profits? Shouldn't we be regulating banks to not make any profits since it's an essential service now (especially during an economic downturn)? Banks should be considered a public utility.

Public utilities make money. How do you think they repay their bonds?

Most of those yields are not the same as bank yields.


Yeah, because they're higher credit grade and tax exempt.
 
2022-01-16 2:54:43 PM  
The populace will never revolt. At least meaningfully. There is too much to lose, and most people are too dependent on their comforts to give them up, even temporarily.
 
2022-01-16 3:43:04 PM  

Kellner21: The populace will never revolt. At least meaningfully. There is too much to lose, and most people are too dependent on their comforts to give them up, even temporarily.


What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.
 
2022-01-16 4:02:09 PM  

Slaxl: Kellner21: The populace will never revolt. At least meaningfully. There is too much to lose, and most people are too dependent on their comforts to give them up, even temporarily.

What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.


Fark user imageView Full Size


The people who are saying shiat like "perfect is the enemy of good" or "something is better than nothing" are the people without any actual problems affecting their lives.
 
2022-01-16 4:10:51 PM  
What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.


That boot taste good?  A person working a full time professional job has to get lucky in order to be able to afford a house.  That alone is a bad sign, but look at health care costs, increasingly empty store shelves, schools closing due to lack of staff, the list goes on and on.  shiat's broken and you're lucky enough not to see it, or you're trying not to.  It's true though, people might not revolt.  They won't have to tear anything down when it all just rots on its own.
 
2022-01-16 4:34:34 PM  

Meat's dream: What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.

That boot taste good?  A person working a full time professional job has to get lucky in order to be able to afford a house.  That alone is a bad sign, but look at health care costs, increasingly empty store shelves, schools closing due to lack of staff, the list goes on and on.  shiat's broken and you're lucky enough not to see it, or you're trying not to.  It's true though, people might not revolt.  They won't have to tear anything down when it all just rots on its own.


Maybe you'll win a better life, probably you'll die. Rebel and find out what boot tastes like after they shoot your dog and fark your wife. People are rational actors.
 
2022-01-16 7:55:14 PM  

Slaxl: Kellner21: The populace will never revolt. At least meaningfully. There is too much to lose, and most people are too dependent on their comforts to give them up, even temporarily.

What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.


This reads like upper class privilege
 
2022-01-16 7:57:27 PM  

Communist Middleschool Student: Those were already paid back submitter.

Your willful ignorance would be better welcome in the Republican party.


Kind of. I mean, think of it this way.

Your brother is rich, but he gambled himself into trouble. You loan him money to get back on his feet with the stipulation that he get cleaned up. Instead, he bets it all on black and wins back far more than you loaned him. He pays you back and goes right back into the casino. He kind of sort of lived up to his end of the bargain because he paid you back, but he's still a shiatbag.
 
2022-01-16 8:37:35 PM  
That's why I bank at a community bank. Low fees, low charges and if there is a problem, I can literally talk to the actual VP of the bank.

I actually really like my bank.
 
2022-01-16 8:38:36 PM  

Kellner21: The populace will never revolt. At least meaningfully. There is too much to lose, and most people are too dependent on their comforts to give them up, even temporarily.


Not in my lifetime, no. There is just enough bread and circuses right now that too many people will put up with shiat so they don't lose what little they have. But if I'm certain of one thing, it's that the wealthy are incapable of controlling their greed. They want it all, everything you've got and everything you're ever gonna have. The closer they get to it, the less people have to lose, and the more likely they'll revolt. But yeah... we're a long, long ways away from that still.

Slaxl: What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.


Tell that to someone in the U.S. who's bankrupt because of medical bills. Tell that to a black person, or a gay person. Tell that to someone who lost their job because it was sent overseas for cheaper labor. You are exactly the kind of person MLK was so frustrated with.
 
2022-01-16 11:04:50 PM  

Moose out front: Kellner21: The populace will never revolt. At least meaningfully. There is too much to lose, and most people are too dependent on their comforts to give them up, even temporarily.

Not in my lifetime, no. There is just enough bread and circuses right now that too many people will put up with shiat so they don't lose what little they have. But if I'm certain of one thing, it's that the wealthy are incapable of controlling their greed. They want it all, everything you've got and everything you're ever gonna have. The closer they get to it, the less people have to lose, and the more likely they'll revolt. But yeah... we're a long, long ways away from that still.

Slaxl: What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.

Tell that to someone in the U.S. who's bankrupt because of medical bills. Tell that to a black person, or a gay person. Tell that to someone who lost their job because it was sent overseas for cheaper labor. You are exactly the kind of person MLK was so frustrated with.


A black person was just president for two terms and was one of our best ever. We currently have an openly gay secretary of transportation. Please engage in the real world and stop acting like every injustice means we're in 1930's Nazi Germany.
 
2022-01-16 11:15:23 PM  

Hector_Lemans: Moose out front: Kellner21: The populace will never revolt. At least meaningfully. There is too much to lose, and most people are too dependent on their comforts to give them up, even temporarily.

Not in my lifetime, no. There is just enough bread and circuses right now that too many people will put up with shiat so they don't lose what little they have. But if I'm certain of one thing, it's that the wealthy are incapable of controlling their greed. They want it all, everything you've got and everything you're ever gonna have. The closer they get to it, the less people have to lose, and the more likely they'll revolt. But yeah... we're a long, long ways away from that still.

Slaxl: What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.

Tell that to someone in the U.S. who's bankrupt because of medical bills. Tell that to a black person, or a gay person. Tell that to someone who lost their job because it was sent overseas for cheaper labor. You are exactly the kind of person MLK was so frustrated with.

A black person was just president for two terms and was one of our best ever. We currently have an openly gay secretary of transportation. Please engage in the real world and stop acting like every injustice means we're in 1930's Nazi Germany.


I don't deny that things continually get better. We're better off now than we were in 1922, or 1822, but we're nowhere near where we should be. This is no time to rest on our laurels. If you believe things are great and we can all relax because there's nothing but small potatoes problems left to fix, I don't know what to tell you.
 
kab
2022-01-16 11:57:24 PM  

Sajuuk Khar: Well good news subby, looks like the vast majority have unless you want to bash smaller local banks. The majors i.e. Chase, Bank of America, Wells Fargo, Goldman Sachs etc. have fulfilled their so called "repayment" for the bailout.

https://projects.propublica.org/bailout/


So what you're saying is they finally raked in enough overdraft fees.
 
2022-01-17 3:24:44 AM  

Moose out front: Hector_Lemans: Moose out front: Kellner21: The populace will never revolt. At least meaningfully. There is too much to lose, and most people are too dependent on their comforts to give them up, even temporarily.

Not in my lifetime, no. There is just enough bread and circuses right now that too many people will put up with shiat so they don't lose what little they have. But if I'm certain of one thing, it's that the wealthy are incapable of controlling their greed. They want it all, everything you've got and everything you're ever gonna have. The closer they get to it, the less people have to lose, and the more likely they'll revolt. But yeah... we're a long, long ways away from that still.

Slaxl: What is there to revolt over? That things aren't perfect? That someone is richer than us? For the most part in the West things are pretty good. If every country was a rational liberal democratic country built on capitalism and the rule of law, with good levels of education, there'd be a lot less suffering and injustice in the world.

Stop wanting to burn it all down because it's not perfect.

Tell that to someone in the U.S. who's bankrupt because of medical bills. Tell that to a black person, or a gay person. Tell that to someone who lost their job because it was sent overseas for cheaper labor. You are exactly the kind of person MLK was so frustrated with.

A black person was just president for two terms and was one of our best ever. We currently have an openly gay secretary of transportation. Please engage in the real world and stop acting like every injustice means we're in 1930's Nazi Germany.

I don't deny that things continually get better. We're better off now than we were in 1922, or 1822, but we're nowhere near where we should be. This is no time to rest on our laurels. If you believe things are great and we can all relax because there's nothing but small potatoes problems left to fix, I don't know what to tell you.


I definitely don't think, nor did I say, that there are no problems. I agree with everything everyone angrily responded to me about. Wealth inequality, racial inequality, all of it. Doesn't mean the solution is an overthrow. If anyone thinks it is please go join a militia.

The talk of revolutions, eat the rich, 'first against the wall' etc etc is what the capitol insurrectionists wanted. Their puppet masters though, do not. They're using them

Things are improving. Not even as fast as I want. But I don't think overthrowing the entirety of the current order and status quo will result in positive change. Revolutions usually end up worse off for those partaking in the revolts.

Do it by the ballot and the legal system.

And to the chump who said I'm the kind of person MLK wasn't fond of... Maybe, but didn't he and Malcolm X fundamentally disagree about the need for revolution Vs doing things through the system?

Things aren't perfect or where any of us in this thread think things should be. We even have the same goals. Just some think achieving them violently is good. I don't
 
Displayed 38 of 38 comments

View Voting Results: Smartest and Funniest

This thread is closed to new comments.

Continue Farking




On Twitter


  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.