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TARP watchdog: Full repayment 'unlikely'
Washington Times ^ | 10/21/09 | Sean Lengell

Posted on 10/21/2009 10:07:41 AM PDT by Nachum

The auto industry, AIG and other struggling recipients of the government's $700 billion Wall Street bailout will make it "extremely unlikely" that taxpayers will receive a full return on their investments, says a new report by the Treasury Department's independent watchdog.

About 17 percent of Troubled Asset Relief Program (TARP) loans issued since the program began a year ago have been repaid, according to a 252-page report released Wednesdayby TARP's Special Inspector General Neil Barofsky.

(Excerpt) Read more at washingtontimes.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: full; repayment; tarp; watchdog

1 posted on 10/21/2009 10:07:41 AM PDT by Nachum
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping


2 posted on 10/21/2009 10:07:59 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

Does this poor investment mean that Lord obama’s salary will be slashed to $250,000? Or zero?


3 posted on 10/21/2009 10:09:33 AM PDT by silverleaf ("For America today, decline is not a condition. Decline is a choice"- Krauthammer)
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To: silverleaf

Yes. But his swiss account in Euros is probably worth about one billion.


4 posted on 10/21/2009 10:14:24 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: Nachum

No kidding ...


5 posted on 10/21/2009 10:14:59 AM PDT by Colonel_Flagg (No apologies.)
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To: Nachum
Just a few weeks ago I heard Michael Medved saying the majority of the TARP funds were already repaid, (touting a success from the Bush admin) with the exception of AIG. I wonder were he is getting his info?
6 posted on 10/21/2009 10:27:21 AM PDT by jaydubya2
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To: Nachum

I’m shocked!


7 posted on 10/21/2009 10:29:21 AM PDT by maggief
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To: jaydubya2

It depends on how you slice it.

He may have been referring to a portion of the TARP funds.

Only a small part of TARP was actually paid out under the Bush admin. Of that that was paid out in 2008, nearly all went to a small number of large financial institutions, a lot of which have since proven to be healthy. Its possible that 70& of the 2008 TARP funds have been repaid.

Note that only about 65% of the $700B was actually paid out overall, even today. Of that much was paid back, so now only about 55% is still outstanding.

AIG at least should be entirely recoverable, once the government sells its stake.


8 posted on 10/21/2009 10:50:04 AM PDT by buwaya
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To: Nachum

Take it out of the gobments paychecks until it’s paid in full!


9 posted on 10/21/2009 10:51:38 AM PDT by devistate one four (Back by popular demand: America love or leave it (GTFOOMC) TET68)
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To: buwaya
That may be what Medvad was referring to, although I feel somewhat mislead by his comments. I found these tables that focus on TARP spending and payback, though slightly dated...

http://www.nytimes.com/imagepages/2009/08/31/business/31taxpayer_graphic.ready.html

http://projects.nytimes.com/creditcrisis/recipients/table
10 posted on 10/21/2009 11:15:31 AM PDT by jaydubya2
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