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Title: Surprise: So Far, TARP Is A Moneymaker
Source: YAHOO NEWS
URL Source: http://news.yahoo.com/s/yblog_upsho ... 9odG1sBHNsawNzdXJwcmlzZXNvZmE-
Published: Jul 8, 2010
Author: John Cook
Post Date: 2010-07-08 19:43:28 by Brian S
Keywords: None
Views: 1974
Comments: 11

If you had qualms about the federal government's decision to react to the financial crisis by taking billions of your tax dollars and handing them over to the highly compensated people who helped create the financial crisis, perhaps you can find solace in the news that we've actually made money on the deal. A new study reported on by Reuters today says the largest component of the TARP fund has netted the U.S. more than $10 billion in profit so far.

The $700 billion Troubled Asset Relief Program was originally intended to purchase, as the name implied, troubled assets. But it rapidly transformed itself into an all-purpose emergency fund. The largest component, the $205 billion Capital Purchase Program, used government money to shore up overleveraged banks. More than 700 banks, including Goldman Sachs and Citigroup, took the money, which was offered in the form of loans and stock warrants. And according to a new report from the research firm Keefe, Bruyette, & Woods, the U.S. Treasury invested wisely.

So far, 61 banks have completely repaid their debt under the program, and the U.S. earned a 10 percent return on those investments, totaling $13 billion. There's still $65 billion in debt outstanding, but Treasury has only taken a $2 billion loss on the program thus far, and a KBW analyst told Reuters that "unless the economy just craters, the bank portion of TARP will be profitable." In other words, the bank bailout was less of a bailout than a loan that's been unexpectedly repaid.

Of course, one reason for the relatively rapid repayment is that beneficiaries of the Capital Purchase Program had to adhere to Treasury's strict executive-compensation rules, which prevented bankers from paying themselves more than $500,000. Paying back taxpayers allowed them to go back to their previous multimillion-dollar salaries.

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#1. To: Brian S (#0)

I'm guessing by now the fact that I bozoed you on LP hasn't sunk in to your small brain.

TARP is a total failure, some people are just too f'in stoopid to figure it out.

Yahoo, Google all the left coast websites are fags and Libtards. Can you figure it out?

reaganisright  posted on  2010-07-08   21:35:49 ET  Reply   Trace   Private Reply  


#2. To: Brian S (#0)

You do know it was Bush who approved TARP, don't you?

no gnu taxes  posted on  2010-07-08   21:35:52 ET  Reply   Trace   Private Reply  


#3. To: no gnu taxes (#2)

Of course and President Obama strengthened and administered the program quite well so far. Result is much better than even I expected.

Never swear "allegiance" to anything other than the 'right to change your mind'!

Brian S  posted on  2010-07-08   22:03:13 ET  Reply   Trace   Private Reply  


#4. To: reaganisright (#1)

You'd be the one to know about small brains, dim one.

Fred Mertz  posted on  2010-07-08   22:07:43 ET  Reply   Trace   Private Reply  


#5. To: Brian S (#0)

the TARP fund has netted the U.S. more than $10 billion in profit so far.

So far, 61 banks have completely repaid their debt under the program, and the U.S. earned a 10 percent return on those investments, totaling $13 billion.

How exactly? Where did the money come from?

Sneakypete, have you ever been married? Said things you later regretted?

Ibluafartsky  posted on  2010-07-08   22:58:08 ET  Reply   Trace   Private Reply  


#6. To: Brian S (#0)

Bush was a genius!

-----------------------------------------------------------
Toss: ADL,CAIR and the Vatican into the pit they belong in.

WhiteSands  posted on  2010-07-08   22:58:54 ET  Reply   Trace   Private Reply  


#7. To: no gnu taxes (#2)

Weren't you the one arguing before that Obama was POTUS before he was actually POTUS?

war  posted on  2010-07-09   8:42:58 ET  Reply   Trace   Private Reply  


#8. To: Brian S (#0)

That 's a Lie.

Here's how you can tell:

Lie stinks. That's how you recognize it by its stench. Like when Glenn Beck appears- the stench comes before him. TV or no TV- the stench fills the room and it stays there even if you turn the TV off.

Like CBS shill saying that XOM Valdez workers merely got sick instead of saying they've nearly all died.

Like the same guy saying that respirators aren't necessary because the EPA -911 Guv NJ here-says the air is safe.

While Methyl Chloride a phosgene precursor floods the GoM atmosphere.

mcgowanjm  posted on  2010-07-09   9:13:35 ET  Reply   Trace   Private Reply  


#9. To: Brian S (#0)

And just in case you think I've gone off topic by talking about lying:

If the US Gov't is not being re paid in $ trillions, anyone saying that TARP's making a profit is worse than a joke.

mcgowanjm  posted on  2010-07-09   9:15:08 ET  Reply   Trace   Private Reply  


#10. To: war (#7)

TARP was activated before the election.

I never was really for it, and I don't think Bush was really for it either, but he succumbed to the warnings of Paulson and Bernanke, maybe for the best.

no gnu taxes  posted on  2010-07-09   11:19:54 ET  Reply   Trace   Private Reply  


#11. To: no gnu taxes (#10)

TARP was activated before the election.

The effect of it was AFTER the election.

war  posted on  2010-07-09   11:26:50 ET  Reply   Trace   Private Reply  


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