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Thread: totally OT - TARP

  1. #1
    sf Guest

    Default totally OT - TARP


    I wonder why this administration doesn't talk up what it has done
    right? For instance, TARP funds are 99% repaid. Who knew?
    http://online.wsj.com/article/BT-CO-...16-713504.html

    --

    Today's mighty oak is just yesterday's nut that held its ground.

  2. #2
    M. JL Esq. Guest

    Default Re: totally OT - TARP

    sf wrote:

    > I wonder why this administration doesn't talk up what it has done
    > right? For instance, TARP funds are 99% repaid. Who knew?
    > http://online.wsj.com/article/BT-CO-...16-713504.html
    >


    Almost makes one think the US federal government should make commercial,
    financial investments with a portion of the taxes it collects.

    Unfortunately, and especially if it were as successful as the TARP it
    could very easily lead to another, and even greater "too big to fail"
    scenario.

    The modern, global economy is more dependent on the perception of it
    than it is the actual creation & transfer of wealth as symbolized by money.

    http://www.enotes.com/secrets-temple...secrets-temple

    "Closely related to the Fed’s power is another major theme: the nature
    of money and the modern financial system. Indeed, the social, political,
    and economic importance of finance is so profound that the book could
    have been aptly subtitled “the triumph of money” (which is in fact the
    title of the final chapter). The discussion includes a daunting
    psychohistory of money (Sigmund Freud makes a surprise appearance) and a
    fascinating history of the Populist movement active at the turn of the
    century."

    For bit more humourous, tabloid take on it.

    http://www.youtube.com/watch?v=G2kjuC7oSvA

    "You write a check for 10 million dollars.

    Hand the check to a Wall Street bank, and ask them to make us a CDO.

    Step two: they create the CDO, using risky stuff, very risky stuff,
    extremely risky stuff.

    Step three: other investors commit hundreds of millions of dollars to
    the CDO.

    Step four: we bet against the CDO, using a credit default swap.

    Step five: the housing market crashes. The CDO’s value goes to zero, our
    bet pays off and we make hundreds of millions of dollars and before you

    can say step six, we’re rich!

    We’re going to bet against the American Dream, we’re going to be on the
    winning team, purchase risky debt on a massive scale.

    Then place a bet that the debt will fail. Hundreds of millions for
    Magnetar, the economy collapsing like a dying star.

    No one will know till it’s on NPR, and who cares? It’s time to hit the
    town, this sucker could go down. The housing market’s losing steam.

    And all we got to do to make our dreams come true is bet against the
    American Dream!"
    --
    JL

  3. #3
    Janet Bostwick Guest

    Default Re: totally OT - TARP

    On Thu, 07 Apr 2011 13:07:42 -0700, sf <[email protected]> wrote:

    >
    >I wonder why this administration doesn't talk up what it has done
    >right? For instance, TARP funds are 99% repaid. Who knew?
    >http://online.wsj.com/article/BT-CO-...16-713504.html


    Well, they do, but there are others in the room shouting loudly about
    something else
    Janet

  4. #4
    KevinS Guest

    Default Re: totally OT - TARP

    On Apr 7, 1:07*pm, sf <s...@geemail.com> wrote:

    > I wonder why this administration doesn't talk up what it has done
    > right? *For instance, TARP funds are 99% repaid. *Who knew?http://online.wsj.com/article/BT-CO-...16-713504.html


    I'm hardly a Bush fan, but I recall that the TARP legislation was
    Bush/Paulson concoction passed in the fall of 2008


  5. #5
    sf Guest

    Default Re: totally OT - TARP

    On Thu, 7 Apr 2011 17:11:36 -0700 (PDT), KevinS <[email protected]>
    wrote:

    > On Apr 7, 1:07*pm, sf <s...@geemail.com> wrote:
    >
    > > I wonder why this administration doesn't talk up what it has done
    > > right? *For instance, TARP funds are 99% repaid. *Who knew?http://online.wsj.com/article/BT-CO-...16-713504.html

    >
    > I'm hardly a Bush fan, but I recall that the TARP legislation was
    > Bush/Paulson concoction passed in the fall of 2008


    I was talking about getting the money repaid, not the loan.

    --

    Today's mighty oak is just yesterday's nut that held its ground.

  6. #6
    Sqwertz Guest

    Default Re: totally OT - TARP

    On Thu, 07 Apr 2011 17:07:04 -0600, Janet Bostwick wrote:

    > On Thu, 07 Apr 2011 13:07:42 -0700, sf <[email protected]> wrote:
    >
    >>
    >>I wonder why this administration doesn't talk up what it has done
    >>right? For instance, TARP funds are 99% repaid. Who knew?
    >>http://online.wsj.com/article/BT-CO-...16-713504.html

    >
    > Well, they do, but there are others in the room shouting loudly about
    > something else
    > Janet


    I heard Obama announce it on every broadcast national TV station the
    day of the Japanese earthquake.

    I wonder about it's validity. Or rather, I seriously doubt Americans
    have been paid back in full. 500 million doesn't sound like that much
    money - not what I was led to assume. 500 million is chicken feed for
    banks. And banks play more underhanded games than Gordie Howe. They
    probably borrowed it from fake accounts and payed for it funny money.

    Watch the movie "Inside Job". The government can't control banks.
    The banks own the government (jointly with a few other large
    industries).

    -sw

  7. #7
    Christopher Helms Guest

    Default Re: totally OT - TARP

    On Apr 7, 3:07*pm, sf <s...@geemail.com> wrote:
    > I wonder why this administration doesn't talk up what it has done
    > right? *For instance, TARP funds are 99% repaid. *Who knew?http://online.wsj.com/article/BT-CO-...16-713504.html



    The banks have been on the receiving end of all sorts of free money
    and Cash For Trash programs. Trillions of dollars have just been
    shoveled at those stupid punks since 2008, but TARP is the only
    program that's ever mentioned on TV. If they're really paying back
    TARP money, they're probably paying it back with funds they're
    receiving from some other government handout program.

  8. #8
    KevinS Guest

    Default Re: totally OT - TARP

    On Apr 7, 5:28*pm, sf <s...@geemail.com> wrote:

    > On Thu, 7 Apr 2011 17:11:36 -0700 (PDT), KevinS <sheeh...@aol.com>
    > wrote:


    > I was talking about getting the money repaid, not the loan.


    "This administration" didn't "do" anything. It happened in the
    ordinary
    course of business. You recall the expression about the rooster taking
    credit for the dawn. They can claim it as an accomplishment if they
    are otherwise bereft of accomplishments.


  9. #9
    sf Guest

    Default Re: totally OT - TARP

    On Thu, 7 Apr 2011 20:58:58 -0700 (PDT), KevinS <[email protected]>
    wrote:

    > On Apr 7, 5:28*pm, sf <s...@geemail.com> wrote:
    >
    > > On Thu, 7 Apr 2011 17:11:36 -0700 (PDT), KevinS <sheeh...@aol.com>
    > > wrote:

    >
    > > I was talking about getting the money repaid, not the loan.

    >
    > "This administration" didn't "do" anything. It happened in the
    > ordinary
    > course of business. You recall the expression about the rooster taking
    > credit for the dawn. They can claim it as an accomplishment if they
    > are otherwise bereft of accomplishments.


    NOBODY is talking about it being almost completely repaid. I doubt
    you knew either.

    --

    Today's mighty oak is just yesterday's nut that held its ground.

  10. #10
    George Guest

    Default Re: totally OT - TARP

    On 4/7/2011 10:28 PM, Sqwertz wrote:
    > On Thu, 07 Apr 2011 17:07:04 -0600, Janet Bostwick wrote:
    >
    >> On Thu, 07 Apr 2011 13:07:42 -0700, sf<[email protected]> wrote:
    >>
    >>>
    >>> I wonder why this administration doesn't talk up what it has done
    >>> right? For instance, TARP funds are 99% repaid. Who knew?
    >>> http://online.wsj.com/article/BT-CO-...16-713504.html

    >>
    >> Well, they do, but there are others in the room shouting loudly about
    >> something else
    >> Janet

    >
    > I heard Obama announce it on every broadcast national TV station the
    > day of the Japanese earthquake.
    >
    > I wonder about it's validity. Or rather, I seriously doubt Americans
    > have been paid back in full. 500 million doesn't sound like that much
    > money - not what I was led to assume. 500 million is chicken feed for
    > banks. And banks play more underhanded games than Gordie Howe. They
    > probably borrowed it from fake accounts and payed for it funny money.


    Fannie and Freddie "absorbed" billions of dollars of bad assets which
    are now conveniently ignored.

    I think most people are annoyed at the whole concept of the "too big to
    fail" marketing campaign where we bailed out greedy pirates who gambled
    too heavily allowing them to keep their jobs and huge bonuses for the
    "great job" they did.

    >
    > Watch the movie "Inside Job". The government can't control banks.
    > The banks own the government (jointly with a few other large
    > industries).
    >

    I would say it is pretty clear that the banks and brokerages made wise
    purchases. Both the red and blue teams joined in to save their owners.


    > -sw



  11. #11
    sf Guest

    Default Re: totally OT - TARP

    On Fri, 08 Apr 2011 08:31:17 -0400, George <[email protected]>
    wrote:

    > Fannie and Freddie "absorbed" billions of dollars of bad assets which
    > are now conveniently ignored.


    Fannie and Freddie are the only ones that will refinance even though
    people are underwater and that's fantastic. Both my kids do not have
    Fannie or Freddie backed mortgages and can not refinance. It would
    really help them to pay off the full amount if they could lower the
    APR but that's not going to happen - ever. Why? Because they can
    afford it. Guess what? They'll end up selling short or walking away
    because they're just putting their money into black hole now. Too bad
    they were responsible buyers. They got screwed going and coming.
    >
    > I think most people are annoyed at the whole concept of the "too big to
    > fail" marketing campaign where we bailed out greedy pirates who gambled
    > too heavily allowing them to keep their jobs and huge bonuses for the
    > "great job" they did.


    It chaps my hide to see the *unearned* bonuses those CEOs are getting.

    --

    Today's mighty oak is just yesterday's nut that held its ground.

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