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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (545473)	1/21/2010 9:37:53 PM
From: i-node	Read Replies (1) \| Respond to of 1574854

>> In truth the tarp program can turn out to be wildly successful, benefiting not only the effected industries but the country as well. Even though I opposed it at the time, it is clear that Bush's TARP was wildly successful in stopping the economy from collapsing, and those actions were directly responsible for saving the economy from the democrat-induced crisis. Unfortunately, it also gave Obama the excuse to throw a trillion taxpayer dollars down the shitter, scarcely one CENT of which has been to any benefit at all.

To: tejek who wrote (545473)	1/22/2010 12:45:50 PM
From: TimF	Read Replies (1) \| Respond to of 1574854

Citibank wasn't "the bank in the worst shape". It might have been the bank with greatest mismatch between assets and liabilities, since its a very big bank, but a number of other banks where in worse shape. And the bailout isn't just about banks. We aren't going to get the money back (certainly not after discounting the time value if by some miracle they pay us back a very long time in the future) from Fannie, Freddie, and AIG. Those where three of the biggest bailouts. We likely won't get the money back from GM. $54 bil isn't much of a reserve against all that bailout money. It isn't enough to cover all the money that we already know won't be paid back, let alone all of the money given to other companies that we don't yet know won't return to health.