PLYMCO_PILGRIM
Gold Member
Dipshit Nay Sayers Wrong Again: TARP Working Out Swell!!!
"It turns out, actually, TARP -- as wildly unpopular as it has been -- has been much cheaper than any of us anticipated," President Obama said Thursday at a White House summit on creating jobs.
Federal Reserve Chairman Ben S. Bernanke, who pushed for the fund's creation, made a similar point at a Senate hearing Thursday on his nomination to a second term.
"Unlike some of the scare stories about $700 billion being thrown away, I do believe . . . in the end that there'll be something close to a break-even there," Bernanke said.
The TARP fund may break even, that is, on its first and biggest use of taxpayer money: investing billions -- $205 billion as of Monday -- directly in banks.
As long as they don't try to spend the 700+ billion that the government Borrowed to fund tarp on something else I'm totally happy about this.
Now if they don't take the saved and repayed money and immediately put it as a payment toward the national defecit I'll be complaining again. For Example I heard obama talking this weekend about spending the leftover and repaid TARP money, money that we borrowed in the first place, on some other programs. That is a bad executive decision.