Getbig.com: American Bodybuilding, Fitness and Figure

Getbig Main Boards => Politics and Political Issues Board => Topic started by: Hugo Chavez on January 30, 2010, 10:37:59 PM

Title: Is it true the banks paid back every dollar we bailed them out on?
Post by: Hugo Chavez on January 30, 2010, 10:37:59 PM
Listening to rightwing radio today and that's what they said.  Every single dollar has been paid back... BS or True?
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: drkaje on January 31, 2010, 06:39:57 AM
I'm guessing it's true in a few cases and a downright lie or accounting trick in all others.

I can only imagine one way struggling banks could have pulled this off in so short of a time considering we've really had no incredible economic changes: Re-financed the debt with China. In theory, investor confidence could have increased stock sales as well. If I'm right about China then the bailouts didn't work, we only shifted debt around again.
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: Fury on January 31, 2010, 07:34:35 AM
The banks that were somewhat financially sound yet still strong armed into taking bailout money have probably paid back most, if not all, of what they borrowed.
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: Soul Crusher on January 31, 2010, 07:39:03 AM
The banks that were somewhat financially sound yet still strong armed into taking bailout money have probably paid back most, if not all, of what they borrowed.

Neil Barofsky, TARP inspector, came out and said TARP is a failure.   
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: Fury on January 31, 2010, 07:40:09 AM
Neil Barofsky, TARP inspector, came out and said TARP is a failure.   

Read my previous posts. I have never once supported the bailout and we would have been much better off in the long run if we let survival of the fittest take its course.
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: Soul Crusher on January 31, 2010, 07:49:13 AM
that doesn't answer my question and it is not the fucking subject.  and yea, I know you were not replying to me but either address the fucking question or don't post.

Some paid it back others didnt. 
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: GigantorX on January 31, 2010, 09:00:46 AM
It's easy to pay back when you don't have to actually assign any true market cost to the garbage that is on their balance sheet...poof.

Also, being able to borrow at 0% from the Fed and than loan it back to the public at interest or simply throw it in the stock market casino is an easy way to raise the funds necessary to pay the TARP "loans" back.
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: drkaje on January 31, 2010, 09:14:30 AM
so it would be a lie for a radio host to claim that the banks had paid back all the money?

Creative interpretation of the truth would be more accurate. Absolute terms like "paid the money back or not" can't be used in this case because they don't take into account banks in the process of repayment or those who have restructured the loans.

The unvarnished truth would likely have no political value. :) In theory, you should be able to get the raw data using a FOI request.
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: drkaje on January 31, 2010, 09:22:48 AM
did you just tell me I would need a freedom of information request to find out  ??? lol

In theory you should be able to get the raw data. I don't believe they'd give it up but we're only talking about a possible way it could be obtained.
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: BM OUT on February 01, 2010, 06:38:41 AM
They paid it back WITH interest and the government made 50 billion on the deal and now Hussein wants to punnish them further and steal more of their money!
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: Soul Crusher on February 01, 2010, 06:48:59 AM


GOOD CLIP.  DYLAN GETS IT. 

Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: MRDUMPLING on February 01, 2010, 07:40:46 AM
I think some did and most didn't.  It is BS because the money was just shifted around again, and the banks that did pay it back were the ones that were FORCED to take the money in the first place. 
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: drkaje on February 01, 2010, 03:10:58 PM
They paid it back WITH interest and the government made 50 billion on the deal and now Hussein wants to punnish them further and steal more of their money!

Is he going to tell them bad jokes?
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: Bindare_Dundat on February 01, 2010, 03:59:05 PM
The short answer is "no".

The new bank tax was a means of recovering some of the TARP funds.


Bank tax proposed as means to recover unrepaid TARP funds

Austin Business Journal - by Kent Hoover ACBJ

 Washington Bureau
 
 
President Barack Obama’s proposed new tax on large financial institutions has a good chance of passing Congress, despite objections that it is unfair and could make credit harder to get.

The president wants to slap a tax on financial institutions with more than $50 billion in assets as a way to ensure that taxpayers recover “every single dime” of the federal government’s $700 billion financial rescue program.

The new Financial Crisis Responsibility Fee would raise an estimated $117 billion over 12 years — the amount of Troubled Asset Relief Program funds that likely won’t be repaid by TARP recipients. TARP funds primarily went to banks, but most of the program’s losses are expected to come from investments in insurance/financial products giant American International Group and automakers General Motors and Chrysler.

Most banks that received TARP money have repaid it, with interest, to the government.

Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: Bindare_Dundat on February 01, 2010, 04:02:05 PM
It's easy to pay back when you don't have to actually assign any true market cost to the garbage that is on their balance sheet...poof.

Also, being able to borrow at 0% from the Fed and than loan it back to the public at interest or simply throw it in the stock market casino is an easy way to raise the funds necessary to pay the TARP "loans" back.

Always enjoy reading your posts bro. You are bang on with your info but I'm afraid the facts fall on deaf ears most of the time.
Title: Re: Is it true the banks paid back every dollar we bailed them out on?
Post by: Bindare_Dundat on February 02, 2010, 06:47:54 AM
Looks like 30 billion dollars of the TARP money is going back to smaller banks. It's TARP light.  ::)



Obama calls for $30 billion small business lending fund
By Catherine Clifford, staff reporterFebruary 2, 2010: 6:05 AM ET


NEW YORK (CNNMoney.com) -- President Obama will call on Congress Tuesday to recycle $30 billion of the remaining Troubled Asset Relief Program (TARP) funds into a new government lending program offering super-cheap capital to community banks that boost their small business lending this year