The "ONE" wants us to believe government is the answer

[Ted]

But it's not:


WASHINGTON (AP) - A government watchdog group says the federal government overpaid for stocks and other assets from financial institutions under its $700 billion rescue program.
The chairwoman of the Congressional Oversight Panel for the bailout funds told the Senate Banking committee Thursday that Treasury in 2008 paid $254 billion and received assets worth about $176 billion.

The figures were reached by extrapolating the results of a study of 10 government transactions.

The Treasury by Jan. 23 had spent about $294 billion on more than 300 companies under the Troubled Asset Relief Program. In one bright spot, the inspector general in charge of reviewing the funds said the federal government has received more than $271 million in dividends from preferred shares obtained through the program.


But hey, what's 78 BILLION dollars to a government program

 

[cigdaze]

"I won. I will trump you on that."
-'Bama

"Make no mistake, tax cheaters cheat us all, and the IRS should enforce our laws to the letter,"
-'Bama

While President Clinton's first trip as president was to Detroit, where he held a town hall meeting with average Americans to talk about how to fix the economy, and President Bush flew to Fort Stewart, Ga., to visit soldiers in the 3rd Infantry Division, Mr. Obama's first trip aboard Air Force One will take him to a luxury resort in Williamsburg

Well, as I said - I mean, you know, we - the president didn't think that we were going to come in here and change everything about the way Washington worked in such a short period of time.
-His Press Secretary

That's change we can believe in...

 

[clayinaustin]

This was/is expected. If the Fed were to pay "market price" for the bad debts/assets, then what would be the point of selling them? The whole point was to pay a premium so that the banks could get rid of the debts/assets and come out ahead.

Also, if I told you that you had one day to sell your house, you would probably get a very low price for it. But, if I told you that you had a year to sell it, then you would get a much better price. understand?

These debts/assets will be (hopefully) be worth more in the next few years, but we need to get the economy turned around NOW! So, the Fed is paying a permium for these debts/assets in order to get money flowing again.

Understand?

 

[BillR]

http://www.stimuluswatch.org/

Check it out. Simply amazing!

 

[Ted]

And nothing has changed, there is no indicator that has gotten better since the TARP program was implemented. I do understand that.

 

[clayinaustin]

And nothing has changed, there is no indicator that has gotten better since the TARP program was implemented. I do understand that.

Very true. In theory it's simple. But, banks are run by people, and people are never simple. But, you can always count on people to do the evil, greedy, self-centered thing! Stupid bankers!

 

[Ted]

Very true. In theory it's simple. But, banks are run by people, and people are never simple. But, you can always count on people to do the evil, greedy, self-centered thing! Stupid bankers!

Right, and if we left them alone to sink or swim, their survival instinct would have kicked in and some banks would have saved themselves. Instead we have given them a cushy, bloated, inefficient safety net that will cost us a fortune over the next few decades.

 

[phragle]

2nd most expensive listing.. an industrial park..in Puerto
Rico??

 

[Sea-Dated]

http://www.stimuluswatch.org/

Check it out. Simply amazing!

Very interesting......