jeffselan

Just another jeffselan opinion

Posts Tagged ‘tarp

The truth we forgot.

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Asset & Liability

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Dear Folks,

Great news! Ten banks won approval to pay back TARP. Yes! Finally! Whoo Hoo!

Guess what,  That was 2009.  Please see the great news!

http://money.cnn.com/2009/06/09/news/companies/banks_tarp/

What was that? They didn’t pay it back! It was just a promise! The answer is, mostly.

http://www.nationalreview.com/corner/242731/did-tarp-money-really-get-paid-back-kevin-d-williamson

Now there are still big issues. As you can see, the real issues were and are Freddie, Fannie, AIG, GM, Chrysler, ect. The small banks would not have caused a nose dive and some banks were very creative paying back. Government sponsored, of course.

Did I forget BofA? This SHOULD tick you off.

http://finance.fortune.cnn.com/2011/08/10/bank-of-americas-back-door-tarp/  Did you see that coming? Mad yet?

The point is, it’s complicated. I missed stuff. It’s not the whole story. It’s enough to put down the sign and stop shouting what the idiot is telling you to say. Think a little bit. Are you really mad at the right people? And if so, is it not really because you just want their stuff? Even if it is taken, you won’t get it.

You may have the power to make something happen. Be careful what you wish for. You might get it.