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The government lost money on those bad loans. I bought 4 houses from HUD/Fannie/Freddie for 18% of what they paid the banks for them. The government took an 82% write-down on bad loans made by investment bankers who got paid huge for making them.
Fed Profit of $88.9 Billion Sent to Treasury in 2012 - The New York ...
Jan 10, 2013 ... The Fed buys Treasuries and mortgage bonds to make them less profitable,
which makes borrowing cheaper and encourages investors to take ...
www.nytimes.com/2013/01/11/business/economy/feds-2012-profit-was-88-9-billion.html
if you are not smart enough to be here why are you here??
Further why on earth would a sane person oppose a profitable bailout that saved the word from depression( even Krugman supported it) and love personal bailouts that are never paid back, grow every year, and cripple people??
Do you have any idea how stupid and hypocritical you are??? Do you worry whether the government loses money on trickle down welfare bailouts?????????????
The government lost money on those bad loans. I bought 4 houses from HUD/Fannie/Freddie for 18% of what they paid the banks for them. The government took an 82% write-down on bad loans made by investment bankers who got paid huge for making them.
Fed Profit of $88.9 Billion Sent to Treasury in 2012 - The New York ...
Jan 10, 2013 ... The Fed buys Treasuries and mortgage bonds to make them less profitable,
which makes borrowing cheaper and encourages investors to take ...
www.nytimes.com/2013/01/11/business/economy/feds-2012-profit-was-88-9-billion.html
if you are not smart enough to be here why are you here??
Further why on earth would a sane person oppose a profitable bailout that saved the word from depression( even Krugman supported it) and love personal bailouts that are never paid back, grow every year, and cripple people??
Do you have any idea how stupid and hypocritical you are??? Do you worry whether the government loses money on trickle down welfare bailouts?????????????
You are so stupid you cant even figure out how subsidies work. I would never expect you to understand how the Fed can show profit when it sells government agencies & GSE HUD/Fannie/Freddie mortgages to have those written down & sell them to investors like me. It is a circle jerk that has expanded debt by $2.5 trillion. The Fed also makes interest on the national debt from government paid for by us tax payers.
You prove your stupidity with every post.
Total 401k assets is currently about $3.2 trillion.
It is a matter of time before your federal government figures a way to tap into that.
I think you meant to say "inflate the currency"; deflation increases the real burden of the debt while inflation decreases it. "Inflating the currency" is also sometimes referred to as "debasing the currency". A 2.5%--3% inflation goal would clearly help the economy right now, but with real interest rates negative, it's hard to see how you get there.The government has three options to deal with the debt:
1. Deflate the currency
I don't see either of these in the cards.2. Default (not the bogus default cried up during the Debt Ceiling fracas) - but real default where bonds are not honored
3. Seize wealth of private citizens
The Fed & treasury bought $2.5 trillion of their bad investments at full price.
too stupid!! The Fed bought at rock bottom prices at depth of recession, now those securities are worth almost double. This is why the Fed is making so much money that it is returning to Treasury!! Banks would have been far better off keeping securities!!!
Program was a huge huge success in saving world from depression unlike personal bailouts that are never paid back and eating,
the country alive, and growing every minute of every day!!!!
A liberal will be far to stupid to see his hypocrisy, let alone the destruction caused by trickle down welfare!!
jail terms and debtor prisons for the COEs would have been the terms.
Rewarding those who failed too easily is almost as bad.
jail terms and debtor prisons for the COEs would have been the terms.
too stupid, for what crime exactly?????????????????? I wonder why the liberal forgot to say??????????
Rewarding those who failed too easily is almost as bad.
Rewarding????? Too stupid, many of the firms went bankrupt!! Merryl Lynch stock holders and many others lost everything in market bubble that only libturd government could create. You display a fundamental misunderstanding as a very slow liberal would.
The reward is for employees who got to:
Keep their bonuses from the fat years
As to who caused the housing bubble
The Big Banks never actually paid back TARP. It was a circle jerk with the money. I had been shopping many foreclosures & bought 4 REO's post foreclosure in 2009 & they all started out as delinquent investment bank loans. They were then sold at foreclosure to their shell straw-man bank trust companies for the full amount of the defaulted loan. The banks took that money from the straw-man trust sale & paid it back to TARP but then somehow those houses magically appeared back on the market a month later as a Fannie/HUD REO for 25% of the price they sold for at the foreclosure auction.
The 4 houses I bought sold for an average of $264K each at their bank foreclosure auctions, approx $1.1 million total. They were listed as bank REO's when I told the realtor I wanted them. When I signed the buyers papers they said I bought them from HUD. I only paid 18% of the price they sold for at the foreclosure sale a month or so before. The US government took a 82% loss on $1.1 million worth of loans on those 4 homes for the investment banks.
The Big Banks never actually paid back TARP. It was a circle jerk with the money. I had been shopping many foreclosures & bought 4 REO's post foreclosure in 2009 & they all started out as delinquent investment bank loans. They were then sold at foreclosure to their shell straw-man bank trust companies for the full amount of the defaulted loan. The banks took that money from the straw-man trust sale & paid it back to TARP but then somehow those houses magically appeared back on the market a month later as a Fannie/HUD REO for 25% of the price they sold for at the foreclosure auction.
The 4 houses I bought sold for an average of $264K each at their bank foreclosure auctions, approx $1.1 million total. They were listed as bank REO's when I told the realtor I wanted them. When I signed the buyers papers they said I bought them from HUD. I only paid 18% of the price they sold for at the foreclosure sale a month or so before. The US government took a 82% loss on $1.1 million worth of loans on those 4 homes for the investment banks.
Christy Romero, the Special Inspector General for the Troubled Asset Relief Program, in her latest quarterly report to Congress, released Wednesday morning.
"It is a widely held misconception that TARP will make a profit," she writes right at the top of her 327-page report. "The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost)."
That directly contradicts the Treasury Department's repeated claims that the government will eventually at least break even on the bailout. So far, the government has gotten back about $300 billion of the $414 billion it has paid out to banks, but some banks paying back TARP have simply used other government money to do so, as The Huffington Post and the Wall Street Journal have reported.
A $60 billion loss is tiny trivia compared to the trillions and trillions and trillions for personal bailouts that destroy the fabric of our country and will never be paid back, not one dime!! Sorry to burst your bubble but as a liberal it will always happen.
It's all a scam. The balance sheet is still $2.5 trillion larger.
It's all a scam. The balance sheet is still $2.5 trillion larger.
2) balance sheet is $2.5 trillion because Fed does not want to sell stuff yet and deflate currency, but, as time goes buy they will and they will make a bigger and bigger profit too since they bought at the bottom!!
It's all a scam. The balance sheet is still $2.5 trillion larger.
2) balance sheet is $2.5 trillion because Fed does not want to sell stuff yet and deflate currency, but, as time goes buy they will and they will make a bigger and bigger profit too since they bought at the bottom!!
To stupid - That's like saying the bank foreclosed on my home & it went up in value before they sold it 10 years later so I made the bank money, so they owe me.
Fed James Bullard said just this morning that the government & Fed are still subsidizing big banks.
Big banks have not paid anything back if they are still receiving government subsidy. Debt has just been circulated from them to government so banks can claim success & that they paid us back & government benefited. These big bank fuckers owe us big time but instead of paying us back, we are still subsidizing them to this day.
To stupid - That's like saying the bank foreclosed on my home & it went up in value before they sold it 10 years later so I made the bank money, so they owe me.
Fed James Bullard said just this morning that the government & Fed are still subsidizing big banks.
Big banks have not paid anything back if they are still receiving government subsidy.
. These big bank fuckers owe us big time but instead of paying us back, we are still subsidizing them to this day.
