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Repayments to push US bank bailout into profit
Reuters ^ | March 30 2011 | David Lawder

Posted on 03/30/2011 6:34:08 PM PDT by Toddsterpatriot

WASHINGTON, March 29 (Reuters) - The U.S. Treasury's bank bailout program will move into a profit for the first time on Wednesday with the expected repayment of $7.4 billion in taxpayer funds, Treasury officials said.

The transfers to the Troubled Asset Relief Program will push recoveries from banks to $251 billion in repayments of capital, dividends, interest and other income. It invested $245 billion in banks during the financial crisis to help avert a U.S. financial system collapse. The officials did not identify the banks expected to repay funds. But SunTrust Banks Inc and Key Corp said on March 18 that they planned to repay $4.9 billion and $2.5 billion, respectively. The repayment from the third bank would likely be much smaller.

The Treasury has estimated it will earn about $20 billion in profits from the bank portion of TARP.

(Excerpt) Read more at guardian.co.uk ...


TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: bailout; banking; benbernanke; bernanke; economy; federalreserve; finance; finreg; hankpaulson; notbailout; paulson; repayment; success; tarp; thefed
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What? Impossible!
1 posted on 03/30/2011 6:34:11 PM PDT by Toddsterpatriot
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To: 1rudeboy; Mase; expat_panama; Rusty0604; Jim 0216; xjcsa; VegasCowboy; 10Ring; Bishop_Malachi

Who knew? Ping!


2 posted on 03/30/2011 6:34:56 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

I wonder if its QE money?


3 posted on 03/30/2011 6:37:14 PM PDT by Horusra (The Democrat party is now the National Socialist party (nationalize the banks, socialize healthcare))
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To: Toddsterpatriot

The TARP funds used to repay treasury still came from the banks’ customers, in other words the TAXPAYERS still footed the bill.
Rewarding bad behavior will net even more bad behavior.


4 posted on 03/30/2011 6:39:38 PM PDT by griswold3 (Character is destiny)
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To: griswold3
The TARP funds used to repay treasury still came from the banks’ customers

I hate it when profitable banks repay their debts.

in other words the TAXPAYERS still footed the bill.

Just the ones who owed the banks money.

Rewarding bad behavior will net even more bad behavior.

But enough about Congress.

5 posted on 03/30/2011 6:42:40 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

You must not have gotten any notices that your bank fees and credit card rates were going up after TARP was initiated.
The losses from the bad players should have been taken. instead we’ve misallocated a massive sum of money to keep the TBTF banks alive.


6 posted on 03/30/2011 6:53:44 PM PDT by griswold3 (Character is destiny)
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To: griswold3
You must not have gotten any notices that your bank fees and credit card rates were going up after TARP was initiated.

I don't pay any fees and haven't carried a credit card balance in years.

The losses from the bad players should have been taken.

Banks lost billions.

7 posted on 03/30/2011 7:02:33 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot; griswold3
Those of us without tinfoil hats have known Bernanke's 2008 TARP was both necessary and profitable.  My bet's the story's breaking now is because liberals want to keep confusing TARP with Obama's spending so they can justify even more spending and pan the Republican congress' budget cuts.  

Note how libs and their useful fools on these threads call them both 'bailouts'.

8 posted on 03/31/2011 3:49:32 AM PDT by expat_panama
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To: expat_panama
Those of us without tinfoil hats have known Bernanke's 2008 TARP was both necessary and profitable.

Those of us who can read and understand the US constitution and understand the evils of government intervention know TARP was illegal and evil.

But whatever. When you are a moral relativist, the ends justify the means. Are you a banker? Are you making money off this? Or did you buy the hype and want to rationalize your decision?

9 posted on 03/31/2011 4:45:05 AM PDT by MichiganConservative (The birth certificate is not the only thing. His "autobiographies" were fictional and ghost-written.)
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To: MichiganConservative
Those of us who can read and understand the US constitution...

Great, always nice to meet with others with so much in common; let's go over it together starting with Article 1 Section 8  "The Congress shall have Power To...   ...coin Money, regulate the Value thereof..." 

We still together?

10 posted on 03/31/2011 5:35:43 AM PDT by expat_panama
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To: expat_panama
Those of us without tinfoil hats have known Bernanke's Paulson's 2008 TARP was both necessary and profitable.
11 posted on 03/31/2011 6:59:35 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
Bernanke's Paulson's 2008 TARP

Huh, and all this time Bernanke's Paulson's been getting all the credit blame.

12 posted on 03/31/2011 8:05:16 AM PDT by expat_panama
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To: Toddsterpatriot

Senator Grassley says they might be “repaying” TARP using SBA loans.

In other words, the goobermint is loaning them money to repay their TARP loans.


13 posted on 03/31/2011 9:12:59 AM PDT by jimt
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To: jimt
Senator Grassley says they might be “repaying” TARP using SBA loans.

They? I'm not that familiar with the SBA. Aren't the loans they provide pretty small? I mean the two main banks discussed in this article are paying back $7.4 billion, I'd be surprised if the SBA loans more than 7 figures to a single business.

14 posted on 03/31/2011 1:04:13 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: griswold3; Toddsterpatriot
You must not have gotten any notices that your bank fees and credit card rates were going up after TARP was initiated.

Fees and rates have absolutely nothing to do with TARP. For the real culprit of higher fees and charges and reduction in free services look at the Dodd-Frank "financial reform" passed last year. It put many regulations intentionally and specifically designed to cut profit of banks and many other financial institutions and financial services providers.

It also established the Consumer Financial Protection Agency, embedded into the Federal Reserve so it would be unaccountable to Congress, chaired by famous crusader and foe of banks, credit card companies, and capitalism in general (and participant in Michael Moore movies and other anti-credit "mokumentaries") - Elizabeth Warren.

As part of new law and regulations the Fed had to propose Draconian cuts in debit card fees, which may cut as much as $80B worth of credit from the economy annually, private investment services including trading, derivatives and other "free" or inexpensive services that used to be part of banks' profit...

As usual, and as was expected, the banks have to make up for the lost profit somewhere else, which in this case would be you, the customer - the same one that Dodd-Frank was ostensibly passed to protect from the "evil" banks.

In case you haven't been following this (sounds like you haven't), here are some links and excerpts:

From $5 Fees May Be Coming to an ATM Near You - CNBC, 2011 March 31

From JPMorgan's Dimon Warns of Regulatory 'Nail' in Coffin - CNBC / FT, 2011 March 31

Wells Fargo Halts Enrollment in Debit-Card Rewards, Citing New U.S. Rules - BL, by Dakin Campbell - 2011 March 25

From US Debit Fee Caps May Hurt Poorest Customers: Dimon - FR / Reuters via CNBC, posted by CutePuppy, 2011 January 14 (you've been warned)

Here's Barney Frank to the rescue!
If Big Banks Raise Fees, Bank Elsewhere: Rep. Frank - CNBC, by Michelle Lodge, 2011 March 25

Don't worry, the Democrats will find a way to "protect" you again from the "evil bankers" who obviously exploited some "loopholes" in the "good-for-you" Dodd-Frank Financial "Reform" Act.

15 posted on 03/31/2011 9:40:52 PM PDT by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: Toddsterpatriot

It gets even more crazy. Go to Drudge Report right now at the top of the page. Tried to post it, but Free Republic is not that free. It will not let me post it? Perhaps it’s a joke?


16 posted on 04/01/2011 7:29:15 AM PDT by Sprite518
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To: Sprite518
The Monetary Control Act of 1980 says that a U.S. branch or agency of a foreign bank that maintains reserves at a Fed bank may receive discount window credit.

Why is this crazy? Fully collateralized short term loans are a joke why exactly?

17 posted on 04/01/2011 7:34:56 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

If it’s no big deal, then why was Ben Bernanke hiding it?


18 posted on 04/01/2011 7:46:52 AM PDT by Sprite518
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To: Sprite518
There used to be a pretty big stigma for borrowing at the discount window. Regulators would wonder why you couldn't find enough consumer deposits to fund your loans.

The fear now is that if the public finds out a bank took out a discount window loan, it could trigger a run on the bank.

Going forward, the Fed has to release that info, with a 2 year lag.

19 posted on 04/01/2011 7:53:06 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Sprite518; Toddsterpatriot; expat_panama

Want to know what’s really crazy?

With all the indignant uproar and claims on FR and by many clueless conservative “leaders” that TARP (and its smaller foreign equivalents) was “illegal,” a “bailout” of the banks and bankers, and how it was the taxpayers money “given” to the fat-cat bankers, and the bashing that Bernanke and Paulson have, and still receive on FR and elsewhere for their role in TARP - this was the only article posted on FR on the subject of TARP and its [not unexpected] success... and in 3 days it garnered only about 20 replies from less than 10 people.

Wanna bet how many posts and replies and associated hue and cry you would see on FR if the headlines would state that TARP was losing more money than “expected”?

Most people on FR apparently still don’t understand how close the civilized world’s financial system was to collapsing and how necessary TARP was to inject liquidity into temporarily illiquid financial system, deflating and frozen credit markets, and instill confidence in the worldwide financial / banking system to stop the runs on the banks and then, for a time, help sustain the liquidity of commercial paper repo market.

Bernanke, being a student of Great Depression and the mistakes that were made by the Fed and the Congress at the time, was uniquely in the right place at the right time.

Hank Paulson used his credibility and energy to convince Bush and clueless lawmakers of the necessity of the immediate action and, instead of being credited and given their due as heroes, they somehow became the most reviled people among the economically illiterate or politically obstinate (sadly, including many conservatives).


20 posted on 04/01/2011 10:21:46 AM PDT by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: CutePuppy

So, after all that, WHY did Hank Paulson NEED a get out of JAIL card along with TRAP?

If it was all so “legal”, he didn’t need that at all, now did he?

And yes, I know that I “mistyped” TARP, because as far as I am concerned, TARP is a TRAP. A TRAP of never ending debt that will blow up.


21 posted on 04/01/2011 10:31:55 AM PDT by TruthConquers ( Delendae sunt publicae scholae)
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To: TruthConquers
WHY did Hank Paulson NEED a get out of JAIL card along with TRAP?

I'd ask you for a link, but with your PMS......

22 posted on 04/01/2011 12:24:49 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: griswold3

The biggest reason fees and rates went up is that ridiculous financial regulation bill passed last year.


23 posted on 04/01/2011 12:45:35 PM PDT by RockinRight (C'mon people - enough with the FR circular firing squad.)
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To: jimt

SBA loans are for mom-and-pop stuff, usually well under a million bucks.

Banks aren’t borrowing from the SBA, trust me.


24 posted on 04/01/2011 12:46:54 PM PDT by RockinRight (C'mon people - enough with the FR circular firing squad.)
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To: CutePuppy
Should big banks jack up fees, Rep. Barney Frank, (D-Mass.), told CNBC Friday, he would urge bank customers to shop around and find community banks and credit unions that offer services for free

Eventually you run out of places to go, Barney...

25 posted on 04/01/2011 12:50:59 PM PDT by RockinRight (C'mon people - enough with the FR circular firing squad.)
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To: TruthConquers
QED

So, after all that, WHY did Hank Paulson NEED a get out of JAIL card along with TRAP?

What are you talking about? It's the Congress that routinely exempts their members from the laws they pass...

But if if Paulson somehow managed to get a "get-out-of-jail-card" (can we see it?) - good for him - it's probably a good enough insurance from the stupid liberals who always wanted to put George W. Bush, Dick Cheney, Donald Rumsfeld, John Ashcroft, Alberto Gonzales, Ben Bernanke and just about everybody else in Bush / Republican administration in jail for all kinds of "crimes" and other "illegal" acts. (They succeeded to finagle one, with I. Lewis Libby).

If it was all so “legal”, he didn’t need that at all, now did he?

Isn't that like saying that if you were innocent, you wouldn't need a lawyer or would not get accused [of something] in the first place?

Can you say what exactly was "illegal" about TARP? Bush administration / Treasury and the Fed specifically went to the U.S. Congress to get authorization for specific temporary use of loans for up to $700B (and have used less than $450B). The Congress self-righteously "fiddled" for a few weeks before condescending to TARP, while the banking system and businesses who could not get credit for payroll and other operating expenses, were "burning" around them.

A TRAP of never ending debt that will blow up.

Again, what are you talking about? Are you sure you are not confusing TARP and the Fed with the Congress and the Executive "minting" the debt through various "stimulus" packages like the Porkulus, and other budget and off-budget spending?

26 posted on 04/01/2011 2:06:08 PM PDT by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: TruthConquers; CutePuppy
TruthConquers:   "...TARP is a TRAP. A TRAP of never ending debt..."

Reuters:  "...program will move into a profit for the first time on Wednesday with the expected repayment of $7.4 billion in taxpayer funds..."

So the Feds have figured out  how to trap the bankers into paying $7.4 billion every Wednesday forever.  Neat!  I wish I'd have thought of that...

27 posted on 04/01/2011 3:32:57 PM PDT by expat_panama
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To: expat_panama
Apparently, some news doesn't travel fast...
28 posted on 04/01/2011 4:08:29 PM PDT by CutePuppy (If you don't ask the right questions you may not get the right answers)
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To: CutePuppy

LOL.... I don’t know who has been feeding you a line of B.S., but that is what you have purchased hook, line and sinker. It was what I expected out of a Banana Republic. Paulson should not only have his money and assets seized, but he should be in Prison! He converted Goldman Sachs after the TARP was passed in order to make sure it received TARP money. I don’t know where you are getting your news, but you are not being told the truth.

Too big to fail is complete rubbish, and violates economics 101.

Whoever you are listening too you need to leave, and get someone else. This is not a left or right thing. It was corruption plain and simple.


29 posted on 04/01/2011 11:10:44 PM PDT by Sprite518
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To: Sprite518
He converted Goldman Sachs after the TARP was passed in order to make sure it received TARP money.

He converted it into what?

30 posted on 04/02/2011 5:08:31 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

Goldman Sachs was converted from a investment bank to a commercial bank one Weekend in order to ensure it receive the TARP funds by Hank Paulson (former CEO of Goldman Sachs).


31 posted on 04/02/2011 8:37:59 PM PDT by Sprite518
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To: Sprite518
Goldman Sachs was converted from a investment bank to a commercial bank one Weekend

OMG! That's awful.

in order to ensure it receive the TARP funds

Ummmmmm.....I don't think you needed to be a commercial bank to get TARP. AIG, CIT, GM, F, FNM, and FRE received TARP funds and aren't commercial banks.

I think you're confusing Treasury/TARP with Federal Reserve/Discount Window.

32 posted on 04/02/2011 8:52:37 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
GM, F, FNM

Make that GM, Chrysler, FNM

33 posted on 04/02/2011 9:04:37 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

LOL... SMH.... You might want to research this before you just make anymore knee jerk comments.


34 posted on 04/02/2011 10:59:42 PM PDT by Sprite518
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To: Sprite518
You might want to research this before you just make anymore knee jerk comments.

Didn't take much research to realize non-banks received TARP. Didn't take much to see that Goldman converted to a bank holding company to borrow from the Fed, not to get TARP.

35 posted on 04/03/2011 6:54:59 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
You seem pretty stupid.

TARP still lost money.

You either don't understand EXTREMELY BASIC concepts like opportunity cost or time value of money or you are a shill.
36 posted on 04/03/2011 8:26:51 AM PDT by Minus_The_Bear
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To: Minus_The_Bear
TARP still lost money.

The BANK portion has made money.

You either don't understand EXTREMELY BASIC concepts like opportunity cost or time value of money

When you post the "opportunity cost or time value" of the money the Treasury used for the bank portion of TARP, I'll be happy to run thru the numbers with you.

37 posted on 04/03/2011 8:32:54 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot
Seriously guy, you are really an idiot.

Please come back when you actually study finance somewhere.
38 posted on 04/03/2011 8:41:14 AM PDT by Minus_The_Bear
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To: Minus_The_Bear

Seriously, find some numbers to discuss or run away like a little girl.


39 posted on 04/03/2011 8:45:56 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

You have got be kidding me.... YES Goldman did take TARP money. Here you go,

http://www.nytimes.com/2009/03/24/business/24sorkin.html?_r=2&partner=rss&emc=rss

BTW, most of the TARP money went to foreign banks. Moreover, this was happening while we the housing bust, an economic melt down, high unemployment and a sky rocketing National debt thanks to the corrupt idiots in Washington legalizing the Up Tick Rule. I have no doubt you believe think that’s good.

Oh and speaking of Government Sachs I mean Goldman Sachs. Never mind the fact that they were saying to the public one thing about certain fund and at the very same time telling their employees dump it as fast you can this ship is going down. I’m sure you believe that is good too. If someone did that to your wife, husband or children.... I’m sure you would not mind being lied too right?

Like I said before you really need to do your homework on this.


40 posted on 04/03/2011 8:49:22 PM PDT by Sprite518
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To: Sprite518
You have got be kidding me....

No.

YES Goldman did take TARP money.

Yes, Goldman took TARP money. Goldman didn't need to become a bank holding company to take TARP. They needed to become a bank holding company to borrow from the Fed Discount Window.

BTW, most of the TARP money went to foreign banks.

None of the TARP money went to foreign banks.

thanks to the corrupt idiots in Washington legalizing the Up Tick Rule.

Wow, you're confused! They removed the uptick rule.

Never mind the fact that they were saying to the public one thing about certain fund and at the very same time telling their employees dump it as fast you can this ship is going down.

Based on your previous and comprehensive confusion, I'm afraid to ask you what you're talking about here.

41 posted on 04/03/2011 8:58:28 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

You REALLY beleive Goldman took the money to borrow from the Feds... Yeah right.... NOT!

Yeah the Uptick Rule that caused the meltdown in 2008. The up Tick Rule had been in place since 1938. You don’t even know what I’m talking about by mentioning the Up Tick Rule. That flew over your head.

Hey kid go do your homework and come back if you learn anything new. In the mean time I’m not wasting my time.

You can start with this,

http://www.bloomberg.com/news/2011-04-01/foreign-banks-tapped-fed-s-lifeline-most-as-bernanke-kept-borrowers-secret.html


42 posted on 04/03/2011 9:22:07 PM PDT by Sprite518
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To: Sprite518
You REALLY beleive Goldman took the money to borrow from the Feds...

TARP and the Fed Discount Window are 2 totally different things. Goldman did not take TARP money so they could borrow from the Fed. That's two independent things. Goldman could take TARP without becoming a bank. Just like the other non-banks did.

If Goldman wanted to borrow from the Fed, and they did, they needed to become a bank holding company. And they did.

Yeah the Uptick Rule that caused the meltdown in 2008.

Sorry Charley, the meltdown was caused by mortgages defaulting.

You don’t even know what I’m talking about by mentioning the Up Tick Rule.

Yeah, that's why you said they legalized the rule when it was actually eliminated. LOL!

In the mean time I’m not wasting my time.

With all your errors, it's clear you wasted your time long before you came to this thread.

If you ever stop confusing the Treasury and the Fed and figure out what you're trying to say about Goldman "saying to the public one thing about certain fund and at the very same time telling their employees dump it as fast you can" be sure to let me know. I'll be here to correct your misconceptions, again.

43 posted on 04/03/2011 9:37:10 PM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

LOL.... Now that I’m more awake I’ll give you a brief.

I don’t know where you are getting your news, but your facts are wrong. Here is an article about Goldman Sachs and receiving TARP money! So NO.... IT’S NOT two different things. You did not know they used the TARP money the Goldman Sachs received was to pay Bonuses in December of 2008. They received over 12 Billion dollars (a private business). Ten of it was used to pay Bonuses which was an all time high for the company. It was the highest ever that far exceeded any previous bonus they paid in the past. That is why they were asked to pay back the 10 of the 12 Billion. BTW, PLEASE research this before you reply any further on this.

http://seekingalpha.com/article/133090-goldman-sachs-tarp-went-to-buffett

The Manage Funds Association (MFA) a group of hedge fund investors , with whom George Soros is associated with, lobbied (aka bribed) SEC chairman Christopher Cox to have the rules changed. Why? So they can engineer a a raid on U.S. markets to trigger a financial crisis that would favor the election of Barrak Obama. George Soros tried it in 2004 with in order to get John Kerry elected but it failed. However, this time the it worked.

Another member of the MFA was John Paulson (not related to Hank Paulson) Paulson saw the MFA fund rise exponentially after the change of the Up Tick rule in 2007. This is how he was able to predict the demise of Lehman Brothers and Wachovia Bank and make a huge profit.

BTW, here is what the Up Tick rule does. To put it simply you cannot “Short” a stock, or a Hedgefund etc... unless it’s going up. By changing the rules anyone with a lot of money can drive down any stock they wanted and thus turn around and buy it back to make a huge profit. People were doing this way back, and it’s why the rules were changed in 1938. So you understand in August of 2008 Goldman Sachs sold garbage (bad mortgage loans stock) to the public pretending it was good. However, behind close doors they were telling their own employees to get rid of this ASAP. It was bad and they wanted to sell it. This change in policy ended up driving 10 Trillion dollars out of our markets in August/September of 2008 that helped ensure Obama got elected.

Don’t you understand Goldman Sachs tricked the public by selling them crap. While they were telling the public their mortgage funds were the best things since slice bread... Secretly behind doors they were getting rid of it. Then thanks to the removal up the Up Tick rule they were able to drive down stocks (Over 10 Trillion) that ensure Obama got elected.

Listen I love capitalism, and would take no other system. However, we are becoming Crony Capitalist which is a highly corrupt capitalism where corrupt people at the top set the rules so that the middle class and below have a real hard time getting ahead. Crony Capitalism empowers the Super Rich that eventually become communist. Case in point, George Soros.

I want to clean the corruption out of Wall Street and K Street. I’m stupid enough to not realize there will always be corruption. However, the changing of a few laws could do wonders for our nation. For instance, reinstate the Glass Stegall Act and the Up Tick Rule for Wall Street, change the Tax code from the Progressive tax to the Fair tax, put in a Constitutional amendment to require a balanced budget and end the lie about free trade. The “Free Trade” lie is such a joke and part of the reason why we have so many issues today. Did you know that we (the USA) still pay Tariffs to every other country. That’s right we pay tariffs to China, Mexico and they do not, along with all the countries in the G (what ever the number is).

Our Federal government has been purchased and paid for by foreign entities and it’s why our country is crumbling. This is why they don’t give a dam about illegal immigration, the run away spending, why we can’t drill for Oil here and the rule changes in Wall Street that screws our system. People like George Soros wants it to come crashing down, and companies like Goldman Sachs are helping them do this to our nation.

I have to go now, but I hope this helps you out. Read Chapter 4 in Trickle Up Poverty called “A Nightmare On Wall Street”. It gets more into details about this. Okay have to go.


44 posted on 04/04/2011 7:04:46 AM PDT by Sprite518
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To: Sprite518
Here is an article about Goldman Sachs and receiving TARP money!

Now that you're awake and/or sober, please show me where on this thread I ever claimed Goldman did not take TARP.

So NO.... IT’S NOT two different things.

Yes, TARP, a Treasury program, is different than borrowing from the Fed Discount Window, a Federal Reserve program.

They received over 12 Billion dollars (a private business).

Goldman received $10 billion from TARP, not $12 billion.

in August of 2008 Goldman Sachs sold garbage (bad mortgage loans stock)

What is "bad mortgage loans stock"?

However, behind close doors they were telling their own employees to get rid of this ASAP.

Huh?

Then thanks to the removal up the Up Tick rule

I'm glad you're not still claiming the Uptick rule was "legalized".

That’s right we pay tariffs to China, Mexico and they do not,

OMG! Now you're showing your ignorance about tariffs.

45 posted on 04/04/2011 7:44:08 AM PDT by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

Phase 1: Bail out Banks
Phase 2: ?
Phase 3: Profit!


46 posted on 04/04/2011 7:45:00 AM PDT by dfwgator
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To: MichiganConservative
Or did you buy the hype and want to rationalize your decision?

I don't think the lessons of history are hype. Loaning money to banks and getting the money back (plus a profit) is far better than financial system collapse.

47 posted on 04/04/2011 7:54:40 AM PDT by Moonman62 (Half of all Americans are above average. Politicians come from the other half.)
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To: griswold3

Fee changes from the big banks were prompted by FinReg, which made it so the majority of small consumer accounts were unprofitable without increases to fees. It had nothing to do with TARP. Like any business, banks are in it to make money. Price controls from Congress don’t save anyone money in the long run, especially the consumer.

If you want to know how these banks were able to repay TARP, take note of the massive stock offerings that have occurred over the last two years. Shareholders paid off TARP, not consumers.


48 posted on 04/04/2011 12:44:35 PM PDT by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: jimt

This makes no sense. TARP has to be repaid by issuing capital to new investors. You can’t repay a loan by granting loans to other parties. When TARP is repaid, cash goes from the bank to the Treasury. When SBA loans are originated, cash goes from the bank to the borrower.


49 posted on 04/04/2011 12:48:09 PM PDT by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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To: CutePuppy

Good stuff CutePuppy. Counting you, there are about four members of FR who understand TARP.


50 posted on 04/04/2011 12:51:22 PM PDT by VegasCowboy ("...he wore his gun outside his pants, for all the honest world to feel.")
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