quote:

ORIGINAL: Yachtie

President Barack Obama said on Thursday that “we got back every dime we used to rescue the financial system."

According to the Congressional Budget Office, however, the government will lose about $24 billion on the bailout.

“We got back every dime we used to rescue the financial system, but we also passed a historic law to end taxpayer-funded Wall Street bailouts for good,” Obama said in Miami Thursday.


Guess Obama didn't get the memo. I'd suggest he look where the one on Benghazi is he never saw. As to ending bailouts, what about the FED's 40 billion per month?

quote:

ORIGINAL: LookieNoNookie

quote:

ORIGINAL: Yachtie

President Barack Obama said on Thursday that “we got back every dime we used to rescue the financial system."

According to the Congressional Budget Office, however, the government will lose about $24 billion on the bailout.

“We got back every dime we used to rescue the financial system, but we also passed a historic law to end taxpayer-funded Wall Street bailouts for good,” Obama said in Miami Thursday.


Guess Obama didn't get the memo. I'd suggest he look where the one on Benghazi is he never saw. As to ending bailouts, what about the FED's 40 billion per month?

Yeah....and there's that silly thing about GM being 31 billion behind the curve too.

Crazy shit huh?

quote:

ORIGINAL: Yachtie

quote:

ORIGINAL: LookieNoNookie

quote:

ORIGINAL: Yachtie

President Barack Obama said on Thursday that “we got back every dime we used to rescue the financial system."

According to the Congressional Budget Office, however, the government will lose about $24 billion on the bailout.

“We got back every dime we used to rescue the financial system, but we also passed a historic law to end taxpayer-funded Wall Street bailouts for good,” Obama said in Miami Thursday.


Guess Obama didn't get the memo. I'd suggest he look where the one on Benghazi is he never saw. As to ending bailouts, what about the FED's 40 billion per month?

Yeah....and there's that silly thing about GM being 31 billion behind the curve too.

Crazy shit.

That's a 31 Billion dollar success story

quote:

ORIGINAL: servantforuse

Lets not forget about the 500 million GM shares we the taxpayers are on the hook for. Those shares are trading in the low twenties and need to be over $50.00 a share to break out even. GM owes the treasury 27 Billion dollars as of now.

quote:

ORIGINAL: tazzygirl

~FR

The Bailout Scorecard

Last update: Oct. 12, 2012

Altogether, accounting for both the TARP and the Fannie and Freddie bailout, $604 billion has gone out the door—invested, loaned, or paid out—while $343 billion has been returned.

The Treasury has been earning a return on most of the money invested or loaned. So far, it has earned $87.3B. When those revenues are taken into account, $173.7B is the net still outstanding as of Oct. 12, 2012.

............

The Treasury is authorized to spend $475 billion of the TARP (In July 2010, the financial regulation overhaul reduced TARP’s spending cap to $475 billion from the original $700 billion.). It has created 13 different programs, to which it has promised $466 billion.

The government committed bailout money to 924 recipients. Those recipients have received a total of $416 billion. A total of $343 billion has been returned.

The Treasury has been earning a return on most of the TARP money invested or loaned. So far, the total return is: $41.7B.

The main sources of that revenue are $22 billion through dividend or interest payments, $11 billion from sales of equity or other assets that Treasury acquired (mostly stock in Citigroup); and $9 billion through stock warrants which Treasury received as part of most of the investments. When companies pay back the TARP investment, the warrants are either sold back to the company or auctioned off.

When those revenues are taken into account, $32 billion is the net amount still outstanding.

While the Treasury has paid out money to 924 recipients, only 779 of those received funds via investments meant to return money to taxpayers. The rest received subsidies through TARP’s housing programs – that money (so far totaling $5 billion) isn’t coming back.

Of the 779 investments made by the Treasury, 358 have resulted in a profit. 41 of the investments resulted in a loss. So far, the profits amount to $34 billion, while the losses amount to $5 billion. 380 of the investments are still outstanding.

.............

The total amount invested in Fannie and Freddie so far is $187.5B. They have returned none of the money invested so far—and might never do so.

The Treasury has been earning a return on its investments. So far Fannie and Freddie have paid $45.7B in dividends to the Treasury.

http://projects.propublica.org/bailout/

quote:

Ah, yes, the old argument that it's all fine because Bush did it first or made the problem to begin with. Here's the problem with that argument. I could go kill five people and say, "well, it's really okay, since Charles Manson killed more than that." Notice anything wrong there? It's the fact that murdering people still ain't right! Oh, and then there's the fact that the last two years of the Bush presidency had a Democrat majority in both House and Senate, meaning that they could have vetoed his crap just fine but didn't.

quote:

ORIGINAL: mussorgsky

Ah, yes, the old argument that it's all fine because Bush did it first or made the problem to begin with. Here's the problem with that argument. I could go kill five people and say, "well, it's really okay, since Charles Manson killed more than that." Notice anything wrong there? It's the fact that murdering people still ain't right! Oh, and then there's the fact that the last two years of the Bush presidency had a Democrat majority in both House and Senate, meaning that they could have vetoed his crap just fine but didn't.

And before you add the ad hominum attacks my way, consider the fact that I'm not a Republican and not a Democrat. All I want is the Constitution to be followed by all those frellwit politicians that swore an oath to do the same. But, failing that, I'll take personal freedom, especially freedom from the oppressive government we have.

P.S. Those same arguments that Bush (or someone else) did it first never work. Gitmo? Still there, must be Bush's fault, not the fact that Obama promised to close it. Still in the 'stan? Bush's fault for getting us in there. What about Iraq? Why not ask Hillary Clinton and all the other Democrat senators that voted in favour of military intervention in Iraq. The economy? Well, the last two major depressions were caused by FDR (well, he didn't cause the initial depression but he both prolonged it by a decade and got us into war with Japan because he wanted it) and Carter. This one was bad government policies again, such as not following the regulations we already had in place. So, before you complain about needing more regulators or regulations, how's about we actually use what we've got instead of keeping the revolving door between Wall Street and DC?

quote:

ORIGINAL: DomYngBlk

Sound like a republican to me. Though, you can have the label "independent" if you want. You did nothing but complain about Dems...so .......if it walks and quacks its a duck.

If you would have comprehended what I wrote......I used the fact that Bush did it as a time line distinction. This was done since most on the right seem to want to make the Bailout seem like it was a afternoon lunchtime decision done on the golf course. That there was no outside interest in GM. That allowing the plants to close would have harmed great sections of the country....

So don't worry about the attacks. I just hope you can comprehend what is written. Mr. Independent.

quote:

ORIGINAL: DomYngBlk

quote:

ORIGINAL: LookieNoNookie

quote:

ORIGINAL: servantforuse

Lets not forget about the 500 million GM shares we the taxpayers are on the hook for. Those shares are trading in the low twenties and need to be over $50.00 a share to break out even. GM owes the treasury 27 Billion dollars as of now.

Moreover, let's not forget the 57% of GM that Obama gave to the unions as payback.

In a bankruptcy plan there would have been a complete wipe out of debt, with new loans (called "debtor in possession" loans) who would have been paid first (based on assets and risk), all shareholders would have been wiped out (as they were in Obama's plan) BUT....then shares would have been sold to the market, debtor in possession would have held something akin to 20% - 40% of the company (dependent upon known risk) and THOSE shares would also have been sold to the public TO PAY OFF THE BANKRUPTCY DEBTOR IN POSSESSION AND.....THE DEBTOR IN POSSESSION WOULD HAVE HELD THE RISK....NOT YOU!!!!!!...as they should have been but....Obama paid off his cronies...those that got him elected that didn't get the "secret ballot" eliminated so....this was their payoff.

Romney was right.

He, no less than every other attorney involved in every other bankruptcy, would never have have wanted to see the venture fail....only that the risk was taken by the market....NOT YOU!

In the end, guess what would have happened?

GM would have survived, in a lesser form, just like it has today.

In the end, GM would have still been selling cars....just like it does today.

The difference?

The market would have determined which cars got sold, and the market (you...the shareholders) would have benefited....but now, all those Hoffa Klingon's have benefited....not you, the U.S. Shareholder.

Enjoy the show.

There's more coming.

Problem was bubba that there wasn't exactly a whole group of investors jumping up and down wanting GM or Chrysler now were there. Please don't act as this happened in an afternoon meeting. Bush did the first 18 billion and Obama came back to do the rest after his inauguration. Months. Months of no one coming to the table to say....hey....We'll help out with GM. Chrysler got Fiat involved. So no, it wouldn't have been picked up by anyone else.

Even if it had many, many of the plants in Ohio, Pa, Il, Wi, Indiana, and Michigan would have been shuttered. As I have been trying to reason with another repug here that would have been a disaster for each of those states and cities that they wouldn't have been able to deal with. Yes, I know, no the market would have fixed it. Bullshit. Did the market fix the last depression? Nope.

The Republican talking points from you are laughable from you since supposedly you hate both sides. lol.