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| RIP TARP https://gladerebooted.net/viewtopic.php?f=8&t=4318 |
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| Author: | Aizle [ Mon Oct 04, 2010 9:28 am ] |
| Post subject: | RIP TARP |
So TARP officially ended today. Which basically means that they can't use any more of the monies set aside for additional programs or bail outs. While the amount earmarked was 700 Billion, the amount actually spent was no where near that much. In total about 360 Billion was spent. Of that only 160 Billion is yet to be repaid. Current expectations are that the program will probably cost about 50 Billion once everything is said and done. Money well spent if you ask me. |
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| Author: | Ladas [ Mon Oct 04, 2010 9:42 am ] |
| Post subject: | |
Heh... couldn't help but consider the original meaning of RIP, its use, and your use here, which doesn't represent your feelings. But I agree... glad it's over. Probably not for the same reason though. |
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| Author: | Aizle [ Mon Oct 04, 2010 9:49 am ] |
| Post subject: | Re: |
Ladas wrote: Heh... couldn't help but consider the original meaning of RIP, its use, and your use here, which doesn't represent your feelings. But I agree... glad it's over. Probably not for the same reason though. I'm not sure I follow, but don't mis-understand me. I didn't "like" TARP. It was most definately a necessary evil, and it irks me that we had to spend even just the 50 Billion to save a bunch of companys that behaved in a reckless manner. It further irks me that the Republican political machine is making as much hay out of TARP on this midterm election, because the majority of the populace only remember 700 Billion and they get wound up in a froth. But 50 Billion to prevent the complete collapes of our economic system is money well spent. |
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| Author: | Müs [ Mon Oct 04, 2010 9:52 am ] |
| Post subject: | |
Good riddance. Worthless program that did nothing. Unemployment still sucks, we're still in a recession. Hooray government. |
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| Author: | Kaffis Mark V [ Mon Oct 04, 2010 10:13 am ] |
| Post subject: | |
But did it really prevent anything? Or just enable the bad behavior by postponing consequences and ensuring that no lessons were learned or taken to heart. |
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| Author: | Hopwin [ Mon Oct 04, 2010 10:17 am ] |
| Post subject: | Re: |
Kaffis Mark V wrote: But did it really prevent anything? Or just enable the bad behavior by postponing consequences and ensuring that no lessons were learned or taken to heart. ^^ |
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| Author: | Dash [ Mon Oct 04, 2010 10:24 am ] |
| Post subject: | |
Yeah the obvious question is, what did it accomplish if we didnt use most of it? We rewarded bad behavior and bailed out companies that didnt deserve it. For all the "sky is falling" predictions had we not done it, things are still crappy and Obama and the Democrats added on a metric assload of new spending and entitlements on top of everything else. |
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| Author: | Elmarnieh [ Mon Oct 04, 2010 11:33 am ] |
| Post subject: | |
Great program if you like bailing out corporations from their bad business practices. We bought TOXIC ASSETS (IE stuff that is unsellable because its worth is impossible to know) with taxpayer money instead of having corporations swallow the bitter pill. Hey government I've got a load of tree trimmings - its worthless please buy it off of me with taxpayer dollars. WOO HOO I also got some old shingles and quickcrete that got wet in the bag. Thanks. |
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| Author: | Aizle [ Mon Oct 04, 2010 12:08 pm ] |
| Post subject: | |
See that's the issue Elmo. Not all of the assets were Toxic. In fact if you just do some back of the napkin math, slightly less than 14% of the assets we bought were toxic. 50B / 360B = 13.8% |
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| Author: | Elmarnieh [ Mon Oct 04, 2010 12:45 pm ] |
| Post subject: | Re: |
Aizle wrote: See that's the issue Elmo. Not all of the assets were Toxic. In fact if you just do some back of the napkin math, slightly less than 14% of the assets we bought were toxic. 50B / 360B = 13.8% You do understand how Tarp payouts were "repaid" don't you? |
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| Author: | Aizle [ Mon Oct 04, 2010 12:47 pm ] |
| Post subject: | Re: Re: |
Elmarnieh wrote: Aizle wrote: See that's the issue Elmo. Not all of the assets were Toxic. In fact if you just do some back of the napkin math, slightly less than 14% of the assets we bought were toxic. 50B / 360B = 13.8% You do understand how Tarp payouts were "repaid" don't you? By the companies replaying their loans. In effect we gave them some operating capital to get their **** together and straightened out. |
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| Author: | Elmarnieh [ Mon Oct 04, 2010 12:54 pm ] |
| Post subject: | Re: Re: |
Aizle wrote: Elmarnieh wrote: Aizle wrote: See that's the issue Elmo. Not all of the assets were Toxic. In fact if you just do some back of the napkin math, slightly less than 14% of the assets we bought were toxic. 50B / 360B = 13.8% You do understand how Tarp payouts were "repaid" don't you? By the companies replaying their loans. In effect we gave them some operating capital to get their **** together and straightened out. yes yes, by what mechanism did they repay their loans? And no, we gave them money for unknown goods - what they use them for is/was up to them. |
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| Author: | Aizle [ Mon Oct 04, 2010 1:28 pm ] |
| Post subject: | |
Enlighten me. |
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