Payback

[Flopper]

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

 

[California Girl]

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.

 

[uscitizen]

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.

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?

 

[VaYank5150]

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

absolutely not!

 

[Truthmatters]

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

 

[VaYank5150]

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

......and thank God that McCain suspended his campaign to help craft these bailouts!

 

[California Girl]

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.

 

[uscitizen]

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

......and thank God that McCain suspended his campaign to help craft these bailouts!

LOL, The right would rather forget that.

 

[Kex]

Yes, otherwise I am afraid I wouldn't have an electricity to make this statement.

 

[G.T.]

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.

lol you tired?

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

 

[FrankieGA]

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

Blame Bush, BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH

Nothing but noise coming from this stupid ass thread. No we shouldn't have bailed the banks out the First time OR THE SECOND TIME UNDER OBAMA!! AND A DEMOCRATIC CONTROLLED SENATE AND CONGRESS

Oh but I bet you want to forget that shit too. Move on

 

[California Girl]

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.

lol you tired?

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

Are their customers not tax payers? Interesting.

Fact is, we had to bail them out. Because otherwise most of us would have gone down with them.

 

[Dr Gregg]

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

Blame Bush, BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH BLAH

Nothing but noise coming from this stupid ass thread. No we shouldn't have bailed the banks out the First time OR THE SECOND TIME UNDER OBAMA!! AND A DEMOCRATIC CONTROLLED SENATE AND CONGRESS

Oh but I bet you want to forget that shit too. Move on

MAn you fail at reading comprehension. BUt brilliant, another shining example of USMB intelligent response right here

 

[Jarhead]

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.

lol you tired?

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

Are their customers not tax payers? Interesting.

Fact is, we had to bail them out. Because otherwise most of us would have gone down with them.

I am not in agreement with you on this. We would not have gone down with them. Other smaller, less risky banks would have filled the void and become larger.

That is how the free market works.

Claiming they were too big to fail was a farce.

 

[EriktheRed]

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.

^^^^^


One of the few times I agree with her.

 

[manu1959]

yep it is all bush fault....the moron bailed out the banks and made them pay back the money we loaned them with interest....

so he saved the economy and made the american public money at the same time....

the evil capitalist bastard....

 

[Patriot214]

NO, they should not have moved forward with the bailouts. The federal government is not a bank or lending institution. Taxpayer dollars are not meant for business loans.

 

[Flopper]

I have mixed emotions on this subject. There is no doubt that these companies deserved to fail. They gambled and lost. I have no sympathy for the management nor the stockholders. These people should have known better. But what about the rest of us? How many additional bank failures, insurance companies, brokerage firms, pension funds, auto dealers, part supplies, etc would have gone under? I doubt anyone could really forecast this. As with any financial crisis, what grows out of the ashes are stronger and healthier but at what cost to the country and the world.

If there were no bailout and the ripple effect resulted in massive bank failures and a worldwide depression, would we be saying that government should not have taken the risk of allowing these institutions to fail.

 

[Zander]

It is a complicated issue and anyone who blames "Bush" is a simpleton.

I opposed the bailouts and I still do. I believe in prefer free market solutions over government solutions. Government has a limited role to play - they cannot be the "lender of last resort" to every failed business in America. Where do we draw the line? Too big to fail? No, to dumb to survive. They should have failed and we'd been far better off for it. The best lessons involve pain, ask any kid that has burned his hand on the stove. We avoided the pain but did we learn a lesson? I think not.