Skeptic Project

http://www.democrats.org/news/blog/tarp_turns_a_profit

Posted: Mar 31, 2011 - 11:10

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Genuine American Monster

Level: 70
CS Original

The Treasury Department announced today that the Troubled Asset Relief Program, commonly known as TARP, has turned a profit for taxpayers.

TARP was originally introduced at the height of the economic crisis to stabilize banks and financial institutions that were at risk of collapse. It was part of a number of emergency measures, all designed to prevent a financial panic and stave off a second Great Depression.

Today, three financial institutions—Sun Trust Banks, Inc.; KeyCorp; Financial Institutions, Inc.—repaid a combined total of $7.4 billion to the Treasury Department.

Announcing the news, Treasury Secretary, Timothy Geithner said:

While our overriding objective with TARP was to break the back of the financial crisis and save American jobs, the fact that our investment in banks has also delivered a significant profit for tax payers is a welcome development. We still have more work to do repairing the damage caused by the crisis and strengthening the recovery, but today is an important milestone in our efforts to recover taxpayer dollars as we continue winding down TARP.

A new study from the Treasury Department estimates that the full set of measures put in place during the financial crisis—TARP, support for Fannie Mae and Freddie Mac, and other critical initiatives—will produce a combined profit of approximately $24 billion for taxpayers.

Posted: Mar 31, 2011 - 12:37

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I shoot you dead.

Level: 9
CS Original

But banks are evil! It's all conspiracy!

scitops

Posted: Mar 31, 2011 - 20:23

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Level: 4
CS Original

Funny shortly after TARP passed I remember a guy tell me that this was the final looting of the economy before the hyperinflationary collapse.

Posted: Mar 31, 2011 - 20:30

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I shoot you dead.

Level: 9
CS Original

Well, why would the banks want all that money if it would end being worthless? Hmmm...

I also note that the hyperinflationary collapse STILL hasn't happened.

The Real Roxette

Posted: Mar 31, 2011 - 22:02

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There ARE more sluts in public schools. Shut up and let me explain.

Level: 8
CS Original

Did any CTs mention this? Somehow I doubt it.

http://www.huffingtonpost.com/social/parlimentMike/obama-treasury-celebrates-bailout-profits_n_842747_82647394.html</p>

Posted: Mar 31, 2011 - 22:25

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Genuine American Monster

Level: 70
CS Original

“We, the victims of the governmental/banking conspiracy, will not forget that when the Obama Administration had the choice of making us whole and making the bankers earn their way out of their own problems, or just refilling the bankers pockets while we drift in the wind, chose rewarding the bad guys.”

“Every bit of profit made by these bankster bandits should be confiscated until they have repayed every last dime of the tens of trillions of dollars of wealth that has been lost by the American people because of their god-damn shadow banking system. And after they've paid it all back, they should be thrown in jail.”

http://www.huffingtonpost.com/social/TheFriendlyAtheist/obama-treasury-celebrates-bailout-profits_n_842747_82662075.html</p>

“WELL Geithner and Bernanke PROPPED UP the CRIMINAL BANKSTER USURY INTEREST SYSTEM and the TBT(D1E) ZOMBIES for another DAY.”

http://www.huffingtonpost.com/social/JacksonAndy78/obama-treasury-celebrates-bailout-profits_n_842747_82642586.html

Posted: Mar 31, 2011 - 22:27

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I shoot you dead.

Level: 9
CS Original

Oh great, CTers on the HuffPo. Guess I shouldn't be surprised, as the left-wing moonbats are getting just as bad as the right wing nutjobs. :/ I guess it's so hard to admit that without this, we probably would've seen another great depression. And as far as just giving money to everyone to repay their loans, that would ALSO be rewarding people who made dumb decisions, as many people just stupidly took out more money than they could afford to repay.

And oh yeah, mr. first commenter, TARP was passed under Bush, not Obama.

It's never MY fault, it's ALWAYS someone ELSE'S fault. Everybody FUCKED up, live WITH it. I can RANDOMLY CAPITALIZE words TOO!

So glad I stopped reading the HuffPo. It's become a total piece of crap.

http://www.huffingtonpost.com/arianna-huffington/why-joe-biden-should-resi_b_320929.html</p>

Posted: Mar 31, 2011 - 22:42

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Genuine American Monster

Level: 70
CS Original

^This was the article that made me stop reading HuffPo. I was extremely offended by it, and the moderators censored my comments that were critical of it and Aarianna for writing it. After that, I stopped reading it and I haven't missed it one little bit.

But they will allow any crazy moonbat, conspiratorial rantings.

Posted: Mar 31, 2011 - 22:44

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I shoot you dead.

Level: 9
CS Original

^You serious? Geez...

What made me stop reading it was that I saw the 'Oil spill will cause toxic rain' article that was circulating last summer pop up on there. Such stupid shit. I also know they promote alternative medicine and anti-vaxx (I think?)

Posted: Mar 31, 2011 - 22:46

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Genuine American Monster

Level: 70
CS Original

Aarianna has even less political sense than Kucinich.

Which is to say, none at all. She's a rich, flip-flopping limousine liberal.

#10

http://rationalwiki.org/wiki/Huffington_Post</p>

Posted: Mar 31, 2011 - 22:50

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I shoot you dead.

Level: 9
CS Original

Yup. Alternative medicine, New Age bullshit and anti-vaxx.

#11

Posted: Mar 31, 2011 - 23:37

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Level: 3
CS Original

But the economy can survive without the banking system if we had an RBE!

#12

Posted: Mar 31, 2011 - 23:41

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Level: 3
CS Original

What the hell? Banks are a business and earn money by people using the bank. It is not stealing money, if people don't want to use the bank they should buy a safe and keep it under their bed.

And if he's meaning the TARP money, alot of it has been paid back already and all of it will eventually.

#13