How much wasTARP:Another example of misinformed majority of YOU!

Discussion in 'Politics' started by healthmyths, Nov 29, 2011.

  1. healthmyths
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    healthmyths Gold Member Supporting Member

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    Authorized $700 billion.
    Total actually paid to banks: $245 billion.
    Total PAID back with interest:$169 billion

    Estimated Cost of TARP $19 billion.

    The Troubled Asset Relief Program (TARP) It was a component of the government's measures in 2008 to address the subprime mortgage crisis.

    The TARP program originally authorized expenditures of $700 billion and was expected to cost the U.S. taxpayers as much as $300 billion.[1] By March 3, 2011, the Congressional Budget Office (CBO) stated that total disbursements would be $432 billion and estimated the total cost would be $19 billion,.[2] This is significantly less than the taxpayers' cost of the savings and loan crisis of the late 1980s but does not include the cost of other "bailout" programs (such as the Federal Reserve's Maiden Lane Transactions and the Federal takeover of Fannie Mae and Freddie Mac).
    Of the $245 billion handed to U.S. and foreign banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010[update]. AIG is considered "on track" to pay back $51 billion from divestitures of two units and another $32 billion in securities.[3]


    Troubled Asset Relief Program - Wikipedia, the free encyclopedia

    TARP: By the Numbers
     
  2. healthmyths
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    healthmyths Gold Member Supporting Member

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  3. healthmyths
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    healthmyths Gold Member Supporting Member

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    And just as the Majority of people are misinformed about TARP so to the Majority of people HAVE NO IDEA of how close on Sept 18,2008 the WORLD's Economies were to major collapse.. All because Soros and other money manipulators were intent on shorting the American economy!!!

    Economic Terrorist Attack 9/18/2008 or "how the world almost came to end at 2pm"

    The near economic collapse on Thursday (Sept 18,2008), at 11am the Federal Reserve noticed a tremendous draw-down of money market accounts in the U.S., to the tune of $550 billion was being drawn out in the matter of an hour or two. The Treasury opened up its window to help and pumped a $105 billion in the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn’t be further panic out there. If they had not done that, their estimation is that by 2pm that afternoon, $5.5 trillion would have been drawn out of the money market system of the U.S., would have collapsed the entire economy of the U.S., and within 24 hours the world economy would have collapsed.
    It would have been the end of our economic system and our political system as we know it.

    Zero Hedge: How The World Almost Came To An End At 2PM On September 18

    HENCE TARP came into existence and will go down as ONE of the BEST financial investment MADE BY THE Federal Govt... ALL in response to what was total
    responsibility of Congress i.e. CRA/ toxic loans and sub prime borrowers!
     
  4. bitterlyclingin
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    bitterlyclingin Silver Member

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    Interestingly enough, written, directed and orchestrated by tax cheat and dead beat, er, excuse me, soon to be Obama Treasury SecretaryTimothy Geithner and presided over by then Treasury Secretary Hank Paulson (D). Talk about having foxes guarding the hen house. Poor GWB. Because the House and the Senate were under the control of the Democrats, he couldn't even get a Republican confirmed to head the Treasury, so the Democrats got a head start on their looting of the peoples funds, finishing with a flourish under Barack Obama (Communist-Il) in 2009.
     
  5. WatertheTree
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    WatertheTree Senior Member

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    Didnt we recently find out that the Federal Reserve printed and loaned some 16 trillion dollars to banks during this same time period? I read an artical yesterday where these loans accounted for 24% of the banks profits for a year.
     
  6. healthmyths
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    healthmyths Gold Member Supporting Member

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    That all maybe true i.e. Beranke 16 trillion... BUT
    the point of the thread is MSM continues to blame TARP on Bush which will turn out to be less costly then the Obama Stimulus, Obamacare and other actions that are killing our country!
    As the article points out TARP will be less then the S&Ls bailout and we thought that was bad!
     
  7. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    That all maybe true i.e. Beranke 16 trillion... BUT
    the point of the thread is MSM continues to blame TARP on Bush which will turn out to be less costly then the Obama Stimulus, Obamacare and other actions that are killing our country!
    As the article points out TARP will be less then the S&Ls bailout and we thought that was bad![/QUOTE]So I'm supposed to get all worked up about TARP when "Helicopter Ben" loaned out 16 Trillion?

    Is that what yer sayin'?

    The focus should be on Bernanke not on the twin puppets Bush and Obama.
     

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