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View Full Version : The deception that is TARP



cotts135
01-10-2012, 06:43 PM
This is an informative article on the Tarp program and how the public was duped by big Wall St. Banks.

http://www.guardian.co.uk/commentisfree/cifamerica/2010/sep/20/tarp-bailout-banks-wall-street

Franco
01-10-2012, 07:31 PM
The Fed Reserve is out of control. The tax payer works for Wall St investment banks.

Isn't that the way it is suppose to be?;-)

cotts135
01-11-2012, 06:06 AM
The Fed Reserve is out of control. The tax payer works for Wall St investment banks.

Isn't that the way it is suppose to be?;-)


Taking money out of the election process would go a long way to solve this problem.

Mike W.
01-11-2012, 06:10 AM
Does anybody realize that the taxpayer made a huge amount of money on the capital that the Government FORCED all the banks to take? Go down the list....Goldman, Morgan Stanley, BAC, Citi....the taxpayer made out like bandits on those trades.


The reality is that the VAST majority of the money that has been lost was on GM, Chrysler, GMAC & AIG. Nobody wants to talk about the fact that unions made Detroit uncompetitive over the period of decades, we we bailed them out and have lost our ass.

Franco
01-11-2012, 06:39 AM
Does anybody realize that the taxpayer made a huge amount of money on the capital that the Government FORCED all the banks to take? Go down the list....Goldman, Morgan Stanley, BAC, Citi....the taxpayer made out like bandits on those trades.


The reality is that the VAST majority of the money that has been lost was on GM, Chrysler, GMAC & AIG. Nobody wants to talk about the fact that unions made Detroit uncompetitive over the period of decades, we we bailed them out and have lost our ass.

The money was supposed to be use to free up Capital, which is what they threatened Paulsen with. That the financial syetm was on the verge of collapsing. Instead, they invested the TARP money overseas, made a quick hit and paid it back.

Yet, none were prosecuted!

Bailing out GM was bad buisness as well. Obama is taking credit for saving GM when GM didn't need saving! What they needed were new owners from the private sector.

Mike W.
01-11-2012, 06:53 PM
The money was supposed to be use to free up Capital, which is what they threatened Paulsen with. That the financial syetm was on the verge of collapsing. Instead, they invested the TARP money overseas, made a quick hit and paid it back.

Yet, none were prosecuted!




So the Government made billions off the Wall Street firms who paid TARP back, and you think someone should be prosecuted?

And to be clear, the TARP money went into capital, which absorbed much of the charges they had to take for bad debt (people not paying back their debt). Subsequently they raised additional equity from the public markets, which was then used to pay the government back.

Not sure where the criminality is there bud.

Franco
01-11-2012, 07:19 PM
So the Government made billions off the Wall Street firms who paid TARP back, and you think someone should be prosecuted?

And to be clear, the TARP money went into capital, which absorbed much of the charges they had to take for bad debt (people not paying back their debt). Subsequently they raised additional equity from the public markets, which was then used to pay the government back.

Not sure where the criminality is there bud.

You must not have read my post;-)

TARP was created to keep the banks operational. We, the public were told that if they didn't get help that the banking system would shutdown. As it turned out, that was NOT the situation.

We should have never bailed them out and those that were promoting financial armageddon if we didn't bail them out should be prosecuted for fraud!

Nate_C
01-16-2012, 10:02 PM
You must not have read my post;-)

TARP was created to keep the banks operational. We, the public were told that if they didn't get help that the banking system would shutdown. As it turned out, that was NOT the situation.

We should have never bailed them out and those that were promoting financial armageddon if we didn't bail them out should be prosecuted for fraud!

No the public was not told that without TARP the banks would fold (well at least in mass). They said that several lending markets like commercial paper would dry up. TARP ended up not costing the tax payer that much and did alot to sure up the markets.

I think a decent argument could be made that the GM money was well spent. IT looks like they have really turned the corner and will provide jobs and tax dollars for decades.

caryalsobrook
01-16-2012, 10:43 PM
The money was supposed to be use to free up Capital, which is what they threatened Paulsen with. That the financial syetm was on the verge of collapsing. Instead, they invested the TARP money overseas, made a quick hit and paid it back.

Yet, none were prosecuted!

Bailing out GM was bad buisness as well. Obama is taking credit for saving GM when GM didn't need saving! What they needed were new owners from the private sector.

You said "What GM needed were new owners from te privaate sector". You wouldn't be talking about those venture capitalists you called "immoral" were you???:o

Franco
01-17-2012, 06:30 AM
You said "What GM needed were new owners from te privaate sector". You wouldn't be talking about those venture capitalists you called "immoral" were you???:o

It was more immoral for the government to do what they did to the stock holders and the bailout.

Besides, it would take a lot more money than what the largest of venture capital companies have on hand. The bailout cost is upwards of 50 billion, 35 of which tax payers will probably never see paid back. That is why it took a company like Fiat to buy Chrysler.

Owning stock in Government Motors is not waht I would consider as paying the tax payers back.

P S

Warren Buffet's company is the worst at cannabilizing companies!