Truthmatters
Diamond Member
- May 10, 2007
- 80,182
- 2,272
- 1,283
- Banned
- #21
Prove your claims without using right wing partisan hack site
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
You wont be able to.
Here is what happened.
They were given some tarp money.
They banked it while they decided how to move forward.
then they were given more and and they had a formed plan and moved forward.
After the plan was implimented they realized they did not need the banked money and returned it with interest.
Only partisan hack assholes like you people would try and turn that into some fucking political hey.
Please remember, by the way, that TARP was supposed to be for "financial institutions" yet GM, a car company managed to get 50 billion in TARP funds...which they then used to pay off their bailout debt.
To use an analogy...it's like borrowing 20 bucks from your parents to put gas in the car...putting five bucks worth in the tank and putting the remainder in your pocket.
You wont be able to.
Here is what happened.
They were given some tarp money.
They banked it while they decided how to move forward.
then they were given more and and they had a formed plan and moved forward.
After the plan was implimented they realized they did not need the banked money and returned it with interest.
Only partisan hack assholes like you people would try and turn that into some fucking political hey.
WASHINGTON — Companies that were bailed out during the financial crisis still owe U.S. taxpayers nearly $133 billion. Treasury's plans to recoup that money have been slowed by the volatile stock market and weakness among smaller banks.
Some of the money will never be recovered.
That's the conclusion of the acting inspector general for the government's financial bailout. Some bailout programs, like the effort to reduce home foreclosures, will last as late as 2017, the inspector general said. Those programs could cost an additional $50 billion or more.
Among the largest bailed-out companies, American International Group Inc. still owes taxpayers around $50 billion, General Motors Co. owes about $25 billion and Ally Financial Inc. about $12 billion.
The 371 banks that still owe money include Regions Financial Corp., which owes $3.5 billion; Zions Bancorporation, $1.4 billion; Synovus Financial Corp., $967.9 million; Popular Inc., $935 million; First Bancorp of San Juan, Puerto Rico, $400 million; and M&T Bank Corp., $381.5 million.
After the 2008 financial crisis, Congress authorized $700 billion for the bailout of financial companies and automakers, called the Troubled Asset Relief Program, or TARP. About $413 billion was lent. So far, the government has recovered about $318 billion, or about 77 percent of it.
"TARP is not over," Christy Romero, the acting IG, said in a statement.
Treasury bailed out companies in the form of loans. It converted its loans to some of the biggest recipients into common shares in those companies. Those shares are now trading below Treasury's break-even prices.
For Treasury to sell its stock in the largest recipients at the price where taxpayers would break even – $28.73 a share for AIG, $53.98 for GM – it could take years, the report says. AIG's shares closed Wednesday at $25.31. GM ended at $24.92. Ally isn't publicly traded.
Bailout Still Costing Taxpayers $132.9 Billion And They Won't Be Paid Back For Years: Report
You wont be able to.
Here is what happened.
They were given some tarp money.
They banked it while they decided how to move forward.
then they were given more and and they had a formed plan and moved forward.
After the plan was implimented they realized they did not need the banked money and returned it with interest.
Only partisan hack assholes like you people would try and turn that into some fucking political hey.
This is from a recent Huffington Post article, and I doubt even TM would consider Huffpo a rightwing propaganda publication.
WASHINGTON Companies that were bailed out during the financial crisis still owe U.S. taxpayers nearly $133 billion. Treasury's plans to recoup that money have been slowed by the volatile stock market and weakness among smaller banks.
Some of the money will never be recovered.
That's the conclusion of the acting inspector general for the government's financial bailout. Some bailout programs, like the effort to reduce home foreclosures, will last as late as 2017, the inspector general said. Those programs could cost an additional $50 billion or more.
Among the largest bailed-out companies, American International Group Inc. still owes taxpayers around $50 billion, General Motors Co. owes about $25 billion and Ally Financial Inc. about $12 billion.
The 371 banks that still owe money include Regions Financial Corp., which owes $3.5 billion; Zions Bancorporation, $1.4 billion; Synovus Financial Corp., $967.9 million; Popular Inc., $935 million; First Bancorp of San Juan, Puerto Rico, $400 million; and M&T Bank Corp., $381.5 million.
After the 2008 financial crisis, Congress authorized $700 billion for the bailout of financial companies and automakers, called the Troubled Asset Relief Program, or TARP. About $413 billion was lent. So far, the government has recovered about $318 billion, or about 77 percent of it.
"TARP is not over," Christy Romero, the acting IG, said in a statement.
Treasury bailed out companies in the form of loans. It converted its loans to some of the biggest recipients into common shares in those companies. Those shares are now trading below Treasury's break-even prices.
For Treasury to sell its stock in the largest recipients at the price where taxpayers would break even $28.73 a share for AIG, $53.98 for GM it could take years, the report says. AIG's shares closed Wednesday at $25.31. GM ended at $24.92. Ally isn't publicly traded.
Bailout Still Costing Taxpayers $132.9 Billion And They Won't Be Paid Back For Years: Report
And then of course, freedom loving people ask what the hell the government is doing owning stock in these corporations in the first place.
And what Huffpo did not mention is that our fearless leader considers the repaid TARP monies as not a means to reduce the national debt, but rather to be his own personal petty cash fund to be used for whatever.
do you understand anything about investing?
Those numbers are very good return on that money
$23 B returned / $51 B disbursed
what myth?
Again
there is no GM without the tax payer
Every penny they own as well as every stock that is there market cap is tax payers wealth
That stock is really worthless as collateral because if you had to sell a large portion of it to make a payment like people who have real loans do, it would plummet its all ready extremely low value
There assets added will probably not reach what they owe us, if so they could have went chapter 11 without us you would think
General Motors Company: NYSE:GM quotes & news - Google Finance
look at the stock performance also
Again
there is no GM without the tax payer
Every penny they own as well as every stock that is there market cap is tax payers wealth
That stock is really worthless as collateral because if you had to sell a large portion of it to make a payment like people who have real loans do, it would plummet its all ready extremely low value
There assets added will probably not reach what they owe us, if so they could have went chapter 11 without us you would think
General Motors Company: NYSE:GM quotes & news - Google Finance
look at the stock performance also
We have Bankruptcy laws...the Government saw fit to circumvent it all for the Unions.
The Stockholders got the shaft.
I pulled ALL my stock out of GM...and invested in Ford.
Again
there is no GM without the tax payer
Every penny they own as well as every stock that is there market cap is tax payers wealth
That stock is really worthless as collateral because if you had to sell a large portion of it to make a payment like people who have real loans do, it would plummet its all ready extremely low value
There assets added will probably not reach what they owe us, if so they could have went chapter 11 without us you would think
General Motors Company: NYSE:GM quotes & news - Google Finance
look at the stock performance also
Again
there is no GM without the tax payer
Every penny they own as well as every stock that is there market cap is tax payers wealth
That stock is really worthless as collateral because if you had to sell a large portion of it to make a payment like people who have real loans do, it would plummet its all ready extremely low value
There assets added will probably not reach what they owe us, if so they could have went chapter 11 without us you would think
General Motors Company: NYSE:GM quotes & news - Google Finance
look at the stock performance also
That's the thing. If the government had stayed out of it, GM almost certainly would have declared bankruptcy. Then it could have reorganized, renegotiated union contracts, and otherwise cleaned up its act so that it could have become profitable again. The way the government handled it ensured that it will likely never be profitable again. At least UNTIL it declares a real bankruptcy and goes throught the necessary process of reorganization and sheds itself of unsustainable contracts, etc.
How much money, pain, recession, and swelling national debt could the federal government have saved us all had they just allowed the practical natural free market solutions to have worked? It would have been hugely painful but it was anyway. And we would now have it all behind us and would likely we well out of the recession and prospering again. And a responsible Congress would have repaired Fannie and Freddie and other regulatory processes necessary to re-establish fiscal sanity.
As it is, all the old problems are still there, we have added mega trillions to the national debt will trillion dollar deficits as far as the eye can see, and no solutions in sight. While the recession plods along.
Compared to Solyandra, those are GREAT returns