OK, star and flashy spin this one. this should be good.
Okay moron.
1. I never defended any companies that were losing money and needed to be bailed out getting bonuses or taking taxpayer funds to go on absurd trips.
Point out where i did.
I stated only that the AIG bailout was a necessity.
Quite a difference between "spin" and fact. I have not mentioned JP MOrgan once on this forum in regards to TARP funds.
Point out where i did.
2. Since you have now brought JP Morgan into the equation, fine. Let's discuss it.
JPMOrgan had net income to the tune of 4.93 billion dollars last year. They can spend what they want on their own planes, with their own money and capital reserves. They are not spending TARP money on it. JPM has over two trillion dollars in assets under management.
JPM currently has roughly $370 billion in cash, cash equivalents, and short term investments.
They already have four private jets. They are selling two old ones, and buying two new ones.
They can do whatever they want with their money.
3. JP MOrgan already said it was not going to buy the jets until all TARP money was paid back anyway.
4. JPMOrgan is buying two new Gulfstream 650s...those are the two planes, at 58.5 million each...they are *ON ORDER*
and guess what? The Gulfstream 650 has only in the last couple of months finally even had a prototype made.
They have not even got into production, and the production line isn't even guaranteed to begin deliveries until 2012 at the very earliest.
so you are whining about a plane that has not been built yet, that JPM has not paid for yet, that won't even be delivered for at least 3 years...
and they also put their deposit down on the two plans *LAST* April and it is non-refundable.
so for god's sake, shut up.
5. Under TARP regulations they were not "bailed out". They got a loan, which is something you have consistently failed to comprehend, in even the simplest of terms...so let's go over this again....
'
Under the conditions of TARP, Treasury gets a guaranteed 5% interest return annually from JPMorgan. So, Treasury is getting $1.25 BILLION A YEAR IN *INTEREST* FROM JPM
it is not just money thrown at them, you fool. It is a *LOAN* with a high interest rates.
yuo have done nothing but cry and whine and stomp your feet over every little slight, and you, like so many others fail to even understand what TARP is...it is not free money...*THESE* ARE LOANS...all the companies are required to be set interest fees to the UNITED STATES TAXPAYERS on hte money they have been loaned.
GET IT THROUGH YOUR THICK HEAD.
A 5% return on income happens to be excellent for a government that consistenly runs massive deficits.
so what do you care? As long as they pay the interest rate, and the money back, what exactly do you care about? They accepted a loan, and agreed to terms of interest payment...it is *THEIR* money now and as long as the interest payments are made, and the money is paid back, what the hell exactly is the problem, genius?
The treasury has a rather sweet 5% interest rate from that loan...so again, what are you crying about as long as the government/taxpayer receives the interest payments and the eventual repaying of the loan?
You don't lend someone money, on concrete terms, where you receive guaranteed interest, and then whine and complain about how people spend that money.
you *LOANED* it to them, and they offered you high interest rates in return...
they can do what they *WANT*
so stop crying and learn the terms of TARP before you start your ignorant and pathetically uninformed whining again.