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Tag Archives: TARP

TARP, TARP Redux, TARPTrois

Version 1:

  • TARP isn’t going to cost the taxpayers anything.  As a matter of fact, the US Taxpayer will make money from this program

Version 2:

  • TARP is going to cost money, but it’s only $15 Billion.  But it saved or created lots of jobs and didn’t cost as much as it could have and if we hadn’t done it we would have had the Great Great Great Great Great Great Great Great Great Depression

Version 3 (out this week)

  • TARP is now going to cost at least $34 Billion and we hope that it won’t cost much more

Below is a graphic from the CBO detailing just how much money the taxpayer made lost in the TARP fiasco.  The program that saved us… ….socialized bank losses after giving billions in bonuses to their elite, has yet to see one person go to jail after costing taxpayers $5 Trillion in investments, and is on track to cost taxpayers at least $34 Billion instead of the purported ‘money made’.

Here is part of a graphic from the CBO describing the current status of the TARP.  Click on the image to view the entire graphic:

Here is the report on the status of TARP.

 
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Posted by on December 22, 2011 in Communism, Economy

 

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People’s World Lies?

On March 18th, 2011, activists trespassed yet again on a business gathering in St. Louis.  Companies and citizens all over America must start pressing charges against these hooligans until they learn how to behave within the law.  But that’s not what this post is about.

The People’s World article describes the gathering of the Most Influential St. Louis businessmen, the attendance of Jay Nixon, and the massive bonuses Bank of America executives will receive after having taken Billions of Taxpayer $$$ from TARP.  It mentions a $410M judgment that BoA will pay for illegally manipulating debit transactions.  But that’s not what this post is about.

“For Mary Boehm, the protest was personal. Boehm almost lost her house of 21 years when her husband was without work for 8 months. “We’ve been through the nightmare,” she said. According to Boehm, Bank of America is ‘driving people into default, into foreclosure, with their lies.’ She added, ‘When the banks made poor decisions our tax dollars bailed them out, the least they can do is help families in need.’

Almost?!? I’d love to sit down with Mrs. Boehm to discuss the exact lies told by BoA, review the paperwork, inquire on her income level, and review other facts regarding her mortgage.  But that’s not what this post is about.

“Bank of America received $45 billion in TARP bailout loans in 2009 – loans that are still being paid back to tax payers.”

Wait a minute?!?!  Bank of America is still paying back the TARP loans?!?!  LIAR!!!  People’s World lies!!


Clearly our friends at the LA Times are telling another story:

“Bank of America Corp. said Thursday it has raised $19.29 billion from a securities offering that, along with available cash, will be used to repay the money it received during the height of the credit crisis last year. […] In doing so, Bank of America would join JPMorgan Chase & Co., Morgan Stanley and Goldman Sachs Group as large banks that have cut ties with the government”

LA Times tells us that BoA has paid back its TARP funds, but People’s World tells us their still paying it!?!?  Make up my mind for me; which one is it folks?

 
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Posted by on March 20, 2011 in Economy

 

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