Bank of America pays back TARP funds

[Ravi]

NEW YORK -(Dow Jones)- Bank of America Corp. (BAC) has paid back its $45 billion in TARP funds, marking an official end to the Charlotte bank's most chaotic chapter, in which it counted the U.S. government as a reluctant and hard-nosed investor.

"We owe taxpayers our thanks for making these funds available to the nation's financial system and to our company during a very difficult time," said outgoing Chief Executive Kenneth Lewis, in a statement.

2nd UPDATE: Bank Of America Repays $45 Billion In TARP Funds

 

[manu1959]

and the fed has made a 19 billion dollar profit on the tarp loan.....

bush was a bloody genius....no.....

 

[Ravi]

I don't know if he was a genius but he at least got one thing right.

 

[Truthmatters]

It was Paulson and we could have made a shit load more and not seen the assholes who made this mess get big bonuses in the end.

 

[manu1959]

It was Paulson and we could have made a shit load more and not seen the assholes who made this mess get big bonuses in the end.

really ... who made the mess that got a big bonus ....

paulson huh....noone else consulted or involved...just paulson....i imagine bush tried to stop him huh....gave speeches that he would veto the legislation but his veto was overridden by the majority dem congress....

 

[Truthmatters]

Do you remember Bush saying not that long ago that tarp was the one thing he regretted?

 

[Ravi]

Jeesh...can't you guys just be happy for once that the economy seems to be looking up?

 

[Truthmatters]

I guess we are all kensyians now?

 

[manu1959]

Do you remember Bush saying not that long ago that tarp was the one thing he regretted?

interesting i thought you said paulson did it....

and to answer your question....no but that doesn't mean it may not turn out to be a good thing....only half of it needed to be spent to stabalize the industry and they government turned a profit doing it.....

if the government turns a profit on the auto bailout and small business investment and health care they are about to do i will be impressed.....

i think bush said he regretted having to do it but that there was no choice.....it was a choice between letting the industry collapse and bailing it out.....

 

[Truthmatters]

Do you really claim that Bush designed the Tarp and not Paulson?

 

[Truthmatters]

How will you now claim that the Tarp was a failure just like the Republican have insisted?

 

[Ravi]

Sigh. Bush for once used common sense and did the right thing. I'm sure he didn't want to go out in the midst of a great depression.

 

[manu1959]

Do you really claim that Bush designed the Tarp and not Paulson?

do you really claim paulson enacted it without the presidents approval.....or is you claim that obama made it work.....

 

[Truthmatters]

where did I do that?

You said Bush was a genius and I siad it was Paulson who designed Tarp.

He could have gotten the Taxpayer more money if he designed it right.

We could be stimulating the economy with Tarp funds.

 

[Truthmatters]

We are all Kensyians now

 

[Toro]

Bush gets credit for supporting and passing bills that staved off Great Depression 2.0.

However, the terms could have been better for the taxpayers.

 

[Polk]

and the fed has made a 19 billion dollar profit on the tarp loan.....

bush was a bloody genius....no.....

Why would that make Bush smart? It was liberals that pushed for equity stakes.

 

[Polk]

Bush gets credit for supporting and passing bills that staved off Great Depression 2.0.

However, the terms could have been better for the taxpayers.

Agreed.

 

[Hum Dinger]

The ability of BoA to payback the TARP money with interest so quickly, is just a testament to the huge profits that BoA has made thru the increased number of foreclosures caused by the massive layoffs that were in turn caused by the banking system choking off the world's economy.

It seems that the increased number of foreclosures more than offset the relative loss caused by the real estate market crash.

In the end the American people got doubly screwed.

 

[Zander]

I think the TARP was needed. I want the money that is paid back to reduce the national debt. Liberals want to spend it, then spend some more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then morethen more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then morethen more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then morethen more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then morethen more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then morethen more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then morethen more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then morethen more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then morethen more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more, then more. AND THEN MORE!!!!