The true cost of TARP. Are we being had? - PowerStrokeNation : Ford Powerstroke Diesel Forum
Reply
 
LinkBack Thread Tools Display Modes
post #1 of 22 (permalink) Old 04-24-2010, 11:59 PM Thread Starter
Moderator
 
PsRumors's Avatar
 
Join Date: Feb 2010
Location: Cartersville, GA
Posts: 4,042
The true cost of TARP. Are we being had?

U.S. gave up billions in tax money in deal for Citigroup's bailout repayment - washingtonpost.com

Quote:
The federal government quietly agreed to forgo billions of dollars in potential tax payments from Citigroup as part of the deal announced this week to wean the company from the massive taxpayer bailout that helped it survive the financial crisis.
And now GM?

GM repays loan to US actually, not really (Update) | Radio Vice Online

Quote:
What you weren’t told was that GM was able to repay the money by drawing down on a line of credit that it had from TARP! In other words, GM took funds still available to it through TARP and used those funds to repay the loan it received from the government. Of course, it now owes $4.7 billion on its line of credit with TARP, but, that doesn’t make for good news, so it wasn’t reported.

'97 SCLB 4x4, 3.55, D60 w/ TrueTrac, 6637, Banks Techni-cooler, BTS Trans, Tru-Cool 4921 Trans Cooler, 1.0 exhaust housing, no ebv, 3" DP, Straight Exhaust, E-Fuel, TW tunes, International WP, 203*, Isspro Gauges
PsRumors is offline  
Sponsored Links
Advertisement
 
post #2 of 22 (permalink) Old 04-25-2010, 12:19 AM
Gandy Dancer
 
AK Gandy's Avatar
 
Join Date: Feb 2010
Location: In The Villages
Posts: 5,972
Re: The true cost of TARP. Are we being had?

I understand why they did it (to increase the stock when the government sells 'our' shares) but, I agree with the statement that we may lose more in tax revenue than we gain in increased share price.




This is pure bogus and I think it was a huge mistake to let GM do it.

The most galling aspect to me is seeing GM brag about what is, in essence, simply a shell game.


PS. In regards to the title of the thread, I don't think "we're being had."

I believe when it's all over, we will have gotten back all but about $100B of the TARP funds allocated.

Considering what could have happened (the total collapse of the world's financial markets)...............it's not the worst investment we've ever made.

$720 BILLION in Iraq (to date) as one example.

Of course, it was only going to cost around $60 BILLION according to Bush.

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
Quote:
Originally Posted by Binderpower View Post
I can be possible.
AK Gandy is offline  
post #3 of 22 (permalink) Old 04-25-2010, 12:27 AM Thread Starter
Moderator
 
PsRumors's Avatar
 
Join Date: Feb 2010
Location: Cartersville, GA
Posts: 4,042
Re: The true cost of TARP. Are we being had?

Have you seen the new GM ad? Based upon it, and this back door payment it sure seems as if they are trying to pull the wool over our eyes.

'97 SCLB 4x4, 3.55, D60 w/ TrueTrac, 6637, Banks Techni-cooler, BTS Trans, Tru-Cool 4921 Trans Cooler, 1.0 exhaust housing, no ebv, 3" DP, Straight Exhaust, E-Fuel, TW tunes, International WP, 203*, Isspro Gauges
PsRumors is offline  
 
post #4 of 22 (permalink) Old 04-25-2010, 12:28 AM
Gandy Dancer
 
AK Gandy's Avatar
 
Join Date: Feb 2010
Location: In The Villages
Posts: 5,972
Re: The true cost of TARP. Are we being had?

Quote:
Originally Posted by PsRumors View Post
Have you seen the new GM ad? Based upon it, and this back door payment it sure seems as if they are trying to pull the wool over our eyes.
Yes, I have.

And that's what pizzes me off the most!

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
Quote:
Originally Posted by Binderpower View Post
I can be possible.
AK Gandy is offline  
post #5 of 22 (permalink) Old 04-25-2010, 03:12 AM
Yeah, it's like that
 
ducatirider944's Avatar
 
Join Date: Jul 2009
Location: Right Wing, Midwest
Posts: 2,419
Re: The true cost of TARP. Are we being had?

GM should have never been bailed out, Period! Neither should have CitiGroup, JP Morgan, blah, blah, blah, put any company name here "___________". They should have been let to fail, yes, it would have sucked for a short period of time, but all we did is postpone the inevitable to a later date. Just like the housing market, after 9/11 we should of allowed it to readjust on it's own, it would have sucked for 6-9 months, but allowing mortgage rates to stay at all time lows, the sub prime crap, and all the other crap just made it fail at a later date and two to three times worse. Just like how we bailed out all these companies will make the market stagnant or little growth for the foreseeable future, and we will more than likely end up sinking more money in these programs that are too big to fail.

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Ronald Reagan
ducatirider944 is offline  
post #6 of 22 (permalink) Old 04-25-2010, 03:47 AM
Gandy Dancer
 
AK Gandy's Avatar
 
Join Date: Feb 2010
Location: In The Villages
Posts: 5,972
Re: The true cost of TARP. Are we being had?

Quote:
Originally Posted by ducatirider944 View Post
They should have been let to fail, yes, it would have sucked for a short period of time, but all we did is postpone the inevitable to a later date.
If you don't mind, I'll believe the folks who disagree with you that........ "it would have sucked for a short period of time."

Crisis (click here)

Quote:
WASHINGTON — The global financial system was teetering on the edge of collapse when President Bush and his economics team huddled in the Roosevelt Room of the White House for a briefing that, in the words of one participant, “scared the hell out of everybody.”

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
Quote:
Originally Posted by Binderpower View Post
I can be possible.
AK Gandy is offline  
post #7 of 22 (permalink) Old 04-25-2010, 06:10 AM
Yeah, it's like that
 
ducatirider944's Avatar
 
Join Date: Jul 2009
Location: Right Wing, Midwest
Posts: 2,419
Re: The true cost of TARP. Are we being had?

Quote:
Originally Posted by AK Gandy View Post
If you don't mind, I'll believe the folks who disagree with you that........ "it would have sucked for a short period of time."

Crisis (click here)
You will believe 6 pages of nothing but blame Bush from the New York Times, I read the article and saw Clinton's name used once, just once in 6 pages, definatly a fair and balances article.

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Ronald Reagan
ducatirider944 is offline  
post #8 of 22 (permalink) Old 04-25-2010, 11:14 AM
Gandy Dancer
 
AK Gandy's Avatar
 
Join Date: Feb 2010
Location: In The Villages
Posts: 5,972
Re: The true cost of TARP. Are we being had?

I will believe that if even a simpleton like Bush was scared.........it was real.

Never have so many politicians, screwed so many Americans...just to make one black person lose his job.
Quote:
Originally Posted by Binderpower View Post
I can be possible.
AK Gandy is offline  
post #9 of 22 (permalink) Old 04-25-2010, 11:24 AM Thread Starter
Moderator
 
PsRumors's Avatar
 
Join Date: Feb 2010
Location: Cartersville, GA
Posts: 4,042
Re: The true cost of TARP. Are we being had?

The fact of the matter is we do not know what would have happened without intervention. All of the studies are just opinions.

We do have one fact when it comes to GM, Ford & Chrysler. They were all in the same boat, broke and bleeding money. None of the big three really stood much of a chance without government intervention, at least that is what they were pandering.

Ford realized quickly they were about to get into bed with the saviour / devil, call it what you want. They backed out of all requests and were able to "go it alone". And look at them now, they are making a great comeback and appear to be on steady ground.

So we have no idea if GM & Chrysler REALLY needed help or if we were the easy way out. GM begged for money worrying the down line suppliers would lose out and cause the financial disaster to worsen. But the down line supplier did lose out through bankruptcy. The one thing these loans were to stop.

Now GM has payed back their TARP with TARP. Aren't we lucky?

I say these companies were to big to fail. They had vast amounts of revenue and assets. Someone would have either bought them, partnered with them, or they, like Ford, would have figured it out on their own.

As for the banks, who cares if we have a few less banks. I think that would be a good thing.

'97 SCLB 4x4, 3.55, D60 w/ TrueTrac, 6637, Banks Techni-cooler, BTS Trans, Tru-Cool 4921 Trans Cooler, 1.0 exhaust housing, no ebv, 3" DP, Straight Exhaust, E-Fuel, TW tunes, International WP, 203*, Isspro Gauges
PsRumors is offline  
post #10 of 22 (permalink) Old 04-25-2010, 03:21 PM
Yeah, it's like that
 
ducatirider944's Avatar
 
Join Date: Jul 2009
Location: Right Wing, Midwest
Posts: 2,419
Re: The true cost of TARP. Are we being had?

Quote:
Originally Posted by AK Gandy View Post
I will believe that if even a simpleton like Bush was scared.........it was real.
I thought you were a centrist, but do centrists only throw the Bush card?


HMMMMM

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.
Ronald Reagan
ducatirider944 is offline  
Reply

Quick Reply
Message:
Options

Register Now



In order to be able to post messages on the PowerStrokeNation : Ford Powerstroke Diesel Forum forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.

Password:


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:
OR

Log-in










Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes
Linear Mode Linear Mode



Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

 
For the best viewing experience please update your browser to Google Chrome