Payback

Discussion in 'Politics' started by Flopper, Apr 22, 2010.

  1. Flopper
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    Flopper Gold Member

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    Goldman Sacks announced last week it would payback the 10 billion in TARP money it received. Other banks have also started payback. GM announced it will repay 5.6 billion completing it's payment of 8.4billion in loans. The government will soon start receiving payments from AIG as some assets are sold. Even thou loans are being repaid with interest it is very unlikely that the government will get all its money back. However, this is a far brighter picture than was painted a year ago. So, looking back, should Congress have done the bailouts?


    Goldman Sachs to return $10B of bailout money - USATODAY.com
    Detroit brightens, but bailout payback is elusive - The Globe and Mail
     
  2. California Girl
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    So, in effect, the banks got our money to bail them out and are now paying the debt - plus interest.. where did they get the money to pay it back.... and the interest? From their business.... that's us.... their customers.

    So we're paying back the money we lent them. Plus interest.
     
  3. uscitizen
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    uscitizen Senior Member

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    Umm where do you think businesses get all of their money/profit?

    Duhhh

    But no I do not think we should have bailed the risk takers out. That is why they call it risk isn't it?
     
    Last edited: Apr 22, 2010
  4. VaYank5150
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    VaYank5150 Gold Member

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    absolutely not!
     
  5. Truthmatters
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    The bailouts should have never happened.

    Bush and team screwed the pooch so badly we HAD to do them.

    They could have been designed to benifit all Americans, they werent.

    Lets not forget the bailouts were Paulson and Bush's baby
     
  6. VaYank5150
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    VaYank5150 Gold Member

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    ......and thank God that McCain suspended his campaign to help craft these bailouts!
     
  7. California Girl
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    The bailouts were despicable. But if those businesses had gone bust.... we would be in a far worse state than we are now. That is the fact... not just the bank themselves would have gone, they'd have taken vast numbers of ordinary Americans with them.
     
  8. uscitizen
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    uscitizen Senior Member

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    LOL, The right would rather forget that.
     
  9. Kex
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    Yes, otherwise I am afraid I wouldn't have an electricity to make this statement.
     
  10. G.T.
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    G.T. Diamond Member

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    lol you tired? :eusa_eh:

    This is silly.

    It's more like they're paying back the money *all* tax payers were forced to give them, plus interest, with money that *some customers, *voluntarily game them, in return *for a service. lol
     

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