Missed the part where monies loaned from the US government to the
banks was repaid?
From Bloomberg Financial News, 10/20/2010. The U.S. government’s bailout of financial firms through the Troubled Asset Relief Program (TARP) provided taxpayers with higher returns than yields paid on 30- year Treasury bonds -- enough money to fund the Securities and Exchange Commission for the next two decades. The government has earned $25.2 billion on its investment of $309 billion in banks and insurance companies, an 8.2 percent return over two years, according to data compiled by Bloomberg. That beat U.S. Treasuries, high-yield savings accounts, money- market funds and certificates of deposit. Full article.
Posted by Kathy Meeh
From Bloomberg Financial News, 10/20/2010. The U.S. government’s bailout of financial firms through the Troubled Asset Relief Program (TARP) provided taxpayers with higher returns than yields paid on 30- year Treasury bonds -- enough money to fund the Securities and Exchange Commission for the next two decades. The government has earned $25.2 billion on its investment of $309 billion in banks and insurance companies, an 8.2 percent return over two years, according to data compiled by Bloomberg. That beat U.S. Treasuries, high-yield savings accounts, money- market funds and certificates of deposit. Full article.
Posted by Kathy Meeh
12 comments:
Don't believe it. Only when the money is returned to the Treasury do we get a return. Leave it in the Politico's hands and it's election mordido.
This article is propaganda and all lies. Obama will not let the banks pay bank TARP.
Watcher and Anon, where do you get your information-- from a Cracker Jacks box? Bloomberg is among the most reliable news sources.
The money given to banks to stabilize the financial free fall 2 years ago has been paid back to the government with an increase in interest of what appears to be 4.1% annualized, 8.2% over 2 years-- better than US Treasury returns or high-yield savings accounts, money-markets, or CDs.
The post note is that the stock market and gold paid regular investors better than that. Anyone who has stable money in money markets or 2-year CDs knows there hasn't been much return.
Is the money going back to pay the deficit? or are they spending it again?
“These are all indirect subsidies the banks got,” Prins said. “So the TARP gains touted by the Treasury are only true if you ignore all the other costs.”
Good point Lois. That's the way Pacifica counts the money too, never mind the regulatory cost to put the package together (analyse, consult, legal, accounting, staff time, etc.).
Hey, the government got the money back and still made a profit, and our financial system was stabilized. This process began on President Bush's watch I believe-- good thing.
TARP! What a scam. Feds lend the banks billions of dollars fresh off the press. The banks then borrow money from the Feds at near 0, to pay back their "loans" with interest, write the interest off, then borrow it back at 0, and lend it at outrageous interest rates. Don't forget the float. Gazillions of dollars at 8% earning 20% on credit cards. Not a bad spread.
Kathy, you understand this. How in the hell can you think it's a victory for $Obama!
She is a sheeple. Brainwashed by all the commies in the democratic party. It is why we are in such a mess. People no longer know how to think clearly or independently. I am an expert at shopping and I know a bad deal from a good one. TARP, Stimulus, Health Care, Financial Reform, are all a bad deal. I am not getting any bang for my buck, instead , my buck went up in flames. Get ready for inflation. And Vote out all the Democrats.
You can't argue with an "expert at shopping."
Never argue with anyone who has a Ph.D. from Ross: Dress for Less University, Steve.
I'm amused. Government: 1 billion x 8.2% = $82 million return. Anon 8:37am: Shopping = "stuff" + - $$$$, and depreciation.
$700,000 stimulus package which stabilized financial institutions includes the banks where Anon 8:37 keeps her "big shopping bucks" (fortunately her spouse is apparently working).
$300,000 of the stimulus package included tax cuts (a Republican inclusion). My small business taxes were much less this year, so I valued from that. With stimulus money people have been helped in various ways.
Needless to say the economic crisis occurred before President Obama came into office less than 2 years ago. Maybe some coursework was missing in Anon 8:37am's Shopping Ph.D.
US economy added 151,000 jobs in October, a 52,000 job increase according to the US Bureau of Statistics. Unemployment remains at 9.6%, but this is a 4 month improvement. Full story from from my bank tracker.
Post a Comment