Posted on 12/12/2009 10:18:15 AM PST by Orange1998
Screwed us taxpayers over royally. Whether you like Taiibi or not he did have good points about obama with the bankers.
http://www.rollingstone.com/politics/story/31234647/obamas_big_sellout
http://www.opensecrets.org/pres08/contrib.php?cycle=2008&cid=N00009638
Another thing remember the AIG debacle on the bonus’s well AIG wins again we pick up the tab again
http://www.bloomberg.com/apps/news?pid=20601110&sid=aUEmHkEXYWMg
When you consider the banks origional name, it makes sense. “Bank of Italy”.
This is just more banker-hating class war spin trying to ignore away the inconvenient fact that TARP worked, is being repaid, is making the treasury money not costing it money, and the banks are now sound as a result. Half the world predicted the opposite as loudly as possible, but they are immoral idiots and flat wrong about every scrap of it.
When has government control been a good thing?
This whole fiasco is stinking. Midnight meeting with congress saying if you don’t loan us the money martial law will be needed. How can the bankers be in such dire conditions overnight and then magically pay it back in 10 months. No wonder “Audit the Fed” is gaining traction.
Taiibi can’t be all bad. He is going after Obama’s sponsors ;-)
How can any bank survive a run?
Agree it is good I just don’t understand why he didn’t investigate him before the election there was plenty of information out there but none of them said anything then.
http://www.noquarterusa.net/blog/2008/09/21/baracks-wall-street-problem-is-now-americas
Wrong, they can sell stock, in a real market and then write a check on the monies and/or they can ask the bank owners to increase capital.
Talk to me in 8-10 years if another bubble doesn’t burst. Pieces of the market must be allowed to fail. BTW... TARP was a good thing? Now that we’ve given the government money, they are playing a shell game and spending it elsewhere. That’s a good thing?
When you take the money you AGREE to the conditions.
After that statement I'm even more convinced you don't know your rear from a hole in the ground.
Calling a bogus trade with the FED repayment. Swapping tax payers monies for a different source of tax payers money.
Another scam since government sachs got the money from AIG
http://www.economicpolicyjournal.com/2009/12/goldman-sachs-equity-bonus-scam.html
Yes, but that wasn't the question.
That you never took an accounting class.
6 months ago, the Fed sheet of April 9 showed the following direct support to the banking system -
Term auction credit - $467.3 billion
Asset backed securities loans - $250.6 billion
Discount window loans - $49.2 billion
Total direct bank support - $767.1 billion
As of today, specifically the December 10 statement, the level of support for the banks is -
Term auction credit - $85.8 billion
Asset backed securities loans - $44 billion
Discount window loans - $19.4 billion
Total direct bank support - $149.2 billion
Net repayment - $617.9 billion
The banks are repaying their Fed loans with a fire hose. They are not borrowing from the Fed to repay the treasury; they have repaid the Fed 4-5 times more than they've repaid the treasury.
There is a huge positive cash flow in the direction of the banks. They are reducing the size of their own balance sheets, letting loans run off into cash without renewing all of them (their corporate clients are paying down debt, too, and refinacing short term bank loans based on prime rate for corporate bond offerings), and raising new capital in long term debt, preferred, and common stock offerings on the strength of improved financial markets.
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