Wednesday, December 08, 2010

TARP Profits Continue to Rise

TARP Profits Continue to Rise.

"I find it hard to swallow that a government measure that reasonable people believed helped stave off another Great Depression and turned a handsome profit was a bad idea. Incidentally these two ideas are not unrelated. If you really thought there was an unjustified generalized bank run then you ought to have been able to make a profit by shoring up the banks. The problem is finding a player with a big enough checkbook to do it. That’s why there was a major profit opportunity for the US Government.

1 comment:

Anonymous said...

What a crock of BS.

The total infusion of money from the citizens of the United States to the fraudsters who caused the crisis by some estimates tops $10 trillion dollars.

That was what was needed just to keep the whole freakin house of cards from collapsing. The bailout is like an iceberg and TARP is the small part that can be seen above the water. Below the surface of the water there's a whole lot more iceberg.

We, the people, now own several trillion dollars worth of dubious mortgage related securities that was too toxic for the banks to hold on their balance sheets. We also lent them several trillion dollars at essentially zero interest so that the poor dears would stand a better chance of making their bonuses in 2009-2010.

So maybe we make a few billion dollars on TARP repayment. We're still trillions in the hole.

"TARP Profits Continue to Rise" m\akes a great headline, but like most everything else connected to this massive fraud, it's just another obfuscation and misdirection to prevent people from realizing the truth about what happened.