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Getbig Main Boards => Politics and Political Issues Board => Topic started by: Dos Equis on December 28, 2010, 08:56:30 AM
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>:(
Give money to a mismanaged business and you delay the inevitable. We should have let poorly run businesses (banks, car companies, whatever) go through bankruptcy.
Rescued Banks Teeter Towards Collapse
The Huffington Post | Amy Lee First Posted: 12-27-10 12:08 PM | Updated: 12-27-10 03:54 PM
Nearly 100 banks previously rescued by the federal government are again poised to fail, despite billions of dollars of support from the American Treasury.
The number of banks on the brink of collapse rose from 86 to 98 during the summer months, according to analysis of federal data from the Wall Street Journal. The banks in question have received $4.2 billion dollars in aid through the Troubled Asset Relief Program (TARP). Most of the troubled institutions are relatively small.
The latest sign of distress in the financial system suggests the bailout may have simply been a stopgap solution for a sector still contending with the aftershocks of the greatest banking crisis in 80 years.
The continued weakness of some banks now threatens to impede a tentative economic recovery, say experts. With many banks still troubled, lending remains tight, depriving businesses of capital to expand and hire. With expansion and hiring rare, the economy remains weak, depriving the banks of healthy customers--in short, a feedback loop of trouble.
The Wall Street Journal defined "troubled banks" as those with less than 6 percent of their primary assets both reliable and liquid.
Through TARP, the government has purchased hundreds of billions of troubled assets from banks in danger. Though the program was purportedly meant to benefit healthy institutions with a good chance of survival, these latest failures suggest that many banks were in tenuous shape to begin with. Seven TARP recipients have already failed, at a loss of $2.7 billion.
But some analysts pointed to the fact that most of the failing institutions are relatively small in dismissing concerns.
http://www.huffingtonpost.com/2010/12/27/rescued-banks-failing_n_801548.html
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Another "success" story for Obama. ::)
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I have said from day 1 that bailing out these banks was a massive mistake.
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Another "success" story for Obama. ::)
TARP was a Bush's (and Paulsen's) baby
how is it you still don't know that?
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I have said from day 1 that bailing out these banks was a massive mistake.
we'd be in MUCH worse shape now if we didn't
haven't we been over this many times already
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TARP was a Bush's (and Paulsen's) baby
how is it you still don't know that?
Obama flew in to support TARP and appointed Geithner, Paulsons' right hand man as Treasury Sec.
Stop the BS Straw.
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we'd be in MUCH worse shape now if we didn't
haven't we been over this many times already
we are no better off now tool. the banks arejust as bad off yet we have TRILLIONS in added debt with n way to pay for it.
Yeah, great success. ::)
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we are no better off now tool. the banks arejust as bad off yet we have TRILLIONS in added debt with n way to pay for it.
Yeah, great success. ::)
I didn't say it was a great success
I said we would be much worse off if we had done nothing
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I didn't say it was a great success
I said we would be much worse off if we had done nothing
We woud be, without the added 3 Trillion in debt and could recover in a shorter period of time. No, we delayed the moment of truth and have NOTHING to show or it but added debt.
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We woud be, without the added 3 Trillion in debt and could recover in a shorter period of time. No, we delayed the moment of truth and have NOTHING to show or it but added debt.
we'd have much higher unemployment and virtually no banking system (either in the US or worldwide).
I've posted an article a few times explaining the reasons why and I thought you had read it. I might try to find it again but honestly really don't give a shit