TARP pays back $164 billion

[rightwinger]

SAN FRANCISCO (MarketWatch) -- The Troubled Asset Relief Program has generated at least $16 billion in profit so far, the Treasury Department said late Wednesday.

Earlier Wednesday, Citigroup /quotes/comstock/13*!c/quotes/nls/c (C 3.28, -0.01, -0.30%) and Wells Fargo /quotes/comstock/13*!wfc/quotes/nls/wfc (WFC 26.82, -0.03, -0.11%) said they repaid $45 billion that they got from TARP. That brings the total amount repaid into the program to $164 billion, the Treasury explained. Read about Citi and Wells repayments.

Total repayments by TARP banks should top $175 billion by the end of 2010, cutting taxpayer exposure to the sector by three-quarters, the Treasury estimated

TARP profit at least $16 bln so far: Treasury - MarketWatch

Kudos to Bush for the TARP program

I'd like to add my appreciation to Presidents Bush and Obama for recognizing that the financial sector was in a crisis and that strong Government action was necessary. With the recovery of the banks and ensuing rebound of the economy we have learned that strong Government intervention is required during times of economic crisis.

And to those who screamed socialism and unconstitutional! How many times does history have to prove you wrong?

 

[code1211]

SAN FRANCISCO (MarketWatch) -- The Troubled Asset Relief Program has generated at least $16 billion in profit so far, the Treasury Department said late Wednesday.

Earlier Wednesday, Citigroup /quotes/comstock/13*!c/quotes/nls/c (C 3.28, -0.01, -0.30%) and Wells Fargo /quotes/comstock/13*!wfc/quotes/nls/wfc (WFC 26.82, -0.03, -0.11%) said they repaid $45 billion that they got from TARP. That brings the total amount repaid into the program to $164 billion, the Treasury explained. Read about Citi and Wells repayments.

Total repayments by TARP banks should top $175 billion by the end of 2010, cutting taxpayer exposure to the sector by three-quarters, the Treasury estimated

TARP profit at least $16 bln so far: Treasury - MarketWatch

Kudos to Bush for the TARP program

Fuck Bush the Lesser and the horse he rode in on.

These are two banks that got the their TARP funds from the Administration of GWB. His people predicted that this money would come back and be applied to the debt. Well, they were half right.

The other half of the TARP funds were sprinkled around to save the UAW and such. How is the repayment of the half of the TARP that the Big 0 administered? Could it be that this administration is better at paybacks than it is at repayment?

 

[ba1614]

Too bad the paid back money wasn't going to pay off the debt incurred by this TARP, then we might have something to be happy about. For the average taxpayer it makes no difference if it's paid back or not, when the returned money is going to more pet projects. We're still saddled with the debt.

 

[code1211]

but but but but but Republicans have saying Obama GAVE the money away. You mean they are PAYING IT BACK????? How can that be? Oh no, what if they are PAYING IT BACK WITH INTEREST???????

What does that say about the Republicans? Oh the shame of it all! The disgrace!

The Troubled Asset Relief Program was supposed to save the monetary system and banking system which was wobbly at the time and then the money was supposed to be paid back.

The Bush administration left half of the pile-o-money for the Big 0 to spend. This a task that he appears to have gotten his mind around.

The Dems cannot allow any available money to not be re-allocated to their re-election funds, so another "jobs" bill is about to take this money permanently out of the Treasury and into the re-elect Nancy fund.

While I sincerely support the idea that Nancy is troubled, I cannot accept that she is an asset.

This is right in step, however, with the misappropriation of funds that has been the TARP since the day it was passed. Given any cash at all, an American politician will immediately turn a trick. This money was intended to buy up "Toxic Assets" and upon the sale of the assets, the money left would be returned.

Those assets still exist, are still "toxic" and are still the same problem they were 14 months ago.

We are being led by idiots, from both parties, who are incapable of making and executing an intelligent plan.

Use Bank Bailout Funds for Jobs Creation: Pelosi - CNBC

Pelosi's comments signaled a growing consensus among Democrats that the $700 billion Troubled Assets Relief Program could provide a handy source of funding for a package aimed at bringing down the nation's 10.2 percent unemployment rate before the November 2010 congressional elections.

 

[code1211]

SAN FRANCISCO (MarketWatch) -- The Troubled Asset Relief Program has generated at least $16 billion in profit so far, the Treasury Department said late Wednesday.

Earlier Wednesday, Citigroup /quotes/comstock/13*!c/quotes/nls/c (C 3.28, -0.01, -0.30%) and Wells Fargo /quotes/comstock/13*!wfc/quotes/nls/wfc (WFC 26.82, -0.03, -0.11%) said they repaid $45 billion that they got from TARP. That brings the total amount repaid into the program to $164 billion, the Treasury explained. Read about Citi and Wells repayments.

Total repayments by TARP banks should top $175 billion by the end of 2010, cutting taxpayer exposure to the sector by three-quarters, the Treasury estimated

TARP profit at least $16 bln so far: Treasury - MarketWatch

Kudos to Bush for the TARP program

If you recall, Bush's plan was to have zero oversite and zero accountability. Luckily Pelosi & Reed didn't let that happen.

They wouldn't have paid back the TARP if the GOP/Bush/McCain were in charge.

Getting the money back was Obama's doing. They didn't like being under the Democrats control.

Its fun being under the GOP's control if you are a corporation because they don't have any stipulations to taking our money. Just take it. And don't show us where the money went either. That would be wrong.

Dirty Secret Of The Bailout: Thirty-Two Words That None Dare Utter

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Maddening, huh?

In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.

So if Bush/Paulson got their way, we would not have recouped any of the money.

Your link from the huffington Post, a laugher on its face, is from before the Congressional review was complete. Do you have one from after the Congressional reveiw that says what actually happened?

It's pretty widely known that Paulson changed the direction of the funds as soon as they were his to direct.

Have YOU actually found out what that new direction was, why that direction was taken, if the Congress had any say in it or if the original problem was actually addressed?

Some actual facts rather than a political rant published before the decisions were made would be a better link than the one you posted.

 

[code1211]

Bush spent half the TARP funds oon bailing out banks. Obama is going to spend the other half on retarded shit where tere will be no payback... By the way we are still down 175 billion.

Actually, the spending that Dems do, almost all of it comes back because it is spent IN America ON Americans.

Bailing out the banks??? What for? The crash was created by the GOP and Corporations and they are trying to put it on the Dems.

Please cry to me about the spending Clinton did. You can't? Exactly!!! Because in a good economy, people don't cry about spending on social programs.

Remember the GOP didn't even admit the economy was bad until they absolutely had to.

So why should we listen to you guys now?

I would rather money be spent in America than in Iraq.

When will the Republicans learn that wars are expensive and useless?

I think that the case can be made that some wars have been essential.

 

[Article 15]

Too bad the paid back money wasn't going to pay off the debt incurred by this TARP, then we might have something to be happy about. For the average taxpayer it makes no difference if it's paid back or not, when the returned money is going to more pet projects. We're still saddled with the debt.

Agreed.

 

[PatekPhilippe]

If you recall, Bush's plan was to have zero oversite and zero accountability. Luckily Pelosi & Reed didn't let that happen.

They wouldn't have paid back the TARP if the GOP/Bush/McCain were in charge.

Getting the money back was Obama's doing. They didn't like being under the Democrats control.

Its fun being under the GOP's control if you are a corporation because they don't have any stipulations to taking our money. Just take it. And don't show us where the money went either. That would be wrong.

Dirty Secret Of The Bailout: Thirty-Two Words That None Dare Utter

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

Maddening, huh?

In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.

So if Bush/Paulson got their way, we would not have recouped any of the money.

Oh yeah...sure...we believe you.....BOBO

Fuck you if I can show you these facts and you don't want to address the facts I've provided.

To me, you just admitted you lost and I won.

If I didn't provide a link you would be asking me for proof. I provided you the link so now you just don't believe the messanger?

Don't believe facts then stupid.

Huffington's blog and factual information are polar opposites. In fact none of what you posted happened so your whining is moot at this point. Plus you saying the money would have never been repaid is completely without merit and a load of left wing bullshit you gleened from a hyperpartisan site. Prove what you say is true. No oversight by the Democrat controlled Congress doesn't mean the money would have never been repaid. You think you know it all...but in reality all you know is what you read from Huffington...which is pretty sad.

 

[Harry Dresden]

no shit Harry he was a a faux cowboy from the beginning, but it worked

It sure did.

Then he left office and moved to a gated community.

hey DILDO....i got a secret for ya.....im willing to bet ya 95% of those in Congress live in gated communities or EXCULSIVE neighborhoods .....dont tell anybody....