TARP IG:Obama's Economic Fixes Could Cost TaxPayers Hundreds of Billions or Trillions

[B_talltpaguy]

He did it the wrong way and that's why it's bad leadership.

Are you crying yet?

Boo fucking hoo, "he did it in a way I didn't personally approve of! Now I have to get online for 12 hours a day and drive everyone I can find online away from my position, by whining incessantly about how people I don't like will live better lives now"


Oh and PS... The IRS won't be going after everyone, just people like you, who get online and rail against the government (their filters see your remarks and know where you are, you know). We snuck that into the bill while you were outside cursing black members of Congress.

 

[Trinity]

Are you crying yet?

people I don't like will live better lives now"

I'm for people in need living better lives...I'm for everybody having a better life. That is why I'm against Obama's bill, not healthcare reform.

The Dems are out in November for being stupid.

 

[B_Nick4444]

anyone who thinks Owe-bama is out to ensure the health or economic well-being of American citizens has been deeply deluded

evidence (of the actual intent of the recipients of his crony capitalism) at the level of the middle-class:

http://abcnews.go.com/WN/saving-middle-class-whistle-blower-banks-helping-americans/story?id=10178938&page=1

 

[B_Nick4444]

if Milton Friedman is correct (and I have no doubt he isn't, given his track record) even without Owe-bama's health care bill, because of Owe-bama's massive deficits, we were looking at a strong possibility of a double dip recession

 

[MovingForward]

So now the bill has passed, but does not go into effect until 2014, is that not 3 years to work on stuff?

 

[B_Nick4444]

like how to pay for it? hats off and a round on me if you can come up with a viable way of doing that

the budget projections used assumed responsible fiscal policies -- when have we ever seen that?

 

[Trinity]

So now the bill has passed, but does not go into effect until 2014, is that not 3 years to work on stuff?

So...now Obama is going to sit down with Nancy Pelosi, Harry Reid and some Dems who probably won't be there come November and figure out how to actually make a real plan to cover 32 million Americans on Medicare when States are going bankrupt, Social Security is now paying out more than it is taking in, millions are still unemployed and every month Obama breaks a record in deficit spending?

Sorry...that sounds stupid.

The Dems are out in November for being stupid.

 

[Industrialsize]

U.S. Earned $10.5 Billion on TARP Investments, Analysis Shows


April 6 (Bloomberg) -- The U.S. Treasury Department has made $10.5 billion, or an 8.5 percent return, on its bailout of financial firms, a private analysis shows.
The report, which tallies money the government earned on sales of preferred stock and warrants held under the Troubled Asset Relief Program, was issued this month by financial research firm SNL Financial of Charlottesville, Virginia.
The profit came from $118.3 billion in aid that has returned to Treasury from 49 firms that “fully exited” the government’s capital purchase program.
The Treasury said April 2 that its programs aimed at stabilizing the banking system “will earn a profit thanks to dividends, interest, early repayments and the sale of warrants.” Total investments of $245 billion last year, initially projected to cost $76 billion, are expected to be profitable, the department said a statement.


U.S. Earned $10.5 Billion on TARP Investments, Analysis Shows - BusinessWeek

 

[mikeyh9in]

Yes, and the sale of the government's ownership of Citi will likely double that number.

U.S. Earned $10.5 Billion on TARP Investments, Analysis Shows


April 6 (Bloomberg) -- The U.S. Treasury Department has made $10.5 billion, or an 8.5 percent return, on its bailout of financial firms, a private analysis shows.
The report, which tallies money the government earned on sales of preferred stock and warrants held under the Troubled Asset Relief Program, was issued this month by financial research firm SNL Financial of Charlottesville, Virginia.
The profit came from $118.3 billion in aid that has returned to Treasury from 49 firms that “fully exited” the government’s capital purchase program.
The Treasury said April 2 that its programs aimed at stabilizing the banking system “will earn a profit thanks to dividends, interest, early repayments and the sale of warrants.” Total investments of $245 billion last year, initially projected to cost $76 billion, are expected to be profitable, the department said a statement.


U.S. Earned $10.5 Billion on TARP Investments, Analysis Shows - BusinessWeek

 

[deleted15807]

And when the government sells it's share of GM shares will turn a hefty profit too.

 

[Trinity]

U.S. Earned $10.5 Billion on TARP Investments, Analysis Shows

That is the Obama Administration's attempt to CYA - cover it's behind with the American people.

As the Title of this thread reads:

TARP Inspector General: Economic Fixes could cost Tax Payers Billions if not Trillions.

If you read either one of the articles from the OP you would know that the issue includes TARP but is bigger than that one program. You would know if you simply read the quotes from the OP.

So that you get it:

Today, the Real Economy Project of the Center for Media and Democracy (CMD) released an assessment of the total cost to taxpayers of the Wall Street bailout. CMD concludes that multiple federal agencies have disbursed $4.6 trillion dollars in supporting the financial sector since the meltdown in 2007-2008. Of that, $2 trillion is still outstanding. Our tally shows that the Federal Reserve is the real source of the bailout funds.
CMD’s assessment demonstrates that while the press has focused its attention on the $700 billion TARP bill passed by Congress, the Federal Reserve has provided by far the bulk of the funding for the bailout in the form of loans amounting to $3.8 trillion. Little information has been disclosed about what collateral taxpayers have received in return for these loans, sparking the Bloomberg News lawsuit covered earlier. CMD also concludes that the bailout is far from over as the government has active programs authorized to cost up to $2.9 trillion and still has $2 trillion in outstanding investments and loans.

PRWatch.org

Obama used the TARP funds to bailout the auto industry and there is still over $100 Billion not paid back to TARP with that and other banks that were bailed out that are on the verge of failing. The profits touted from recent banks returning funds with interest does not improve Obama's mismanagement of his "economic fixes" and bailout process which includes TARP and could cost the American people hundreds of Billions - if not Trillons.