Are you guys still bitching about TARP bailouts for the Banks?? Seriously?
What the heck impact do you seriously think the $98 Billion dollars of TARP bank loans left outstanding had on Standard and Poor's decision to downgrade the US credit rating? More proof that Tea Party Republicans Can't Do Math.
"The Treasury is authorized to spend $475 billion of the TARP. It has created 13 different programs, to which it has promised $470 billion.
The government has committed bailout money to 928 recipients. Those recipients have received a total of $411 billion 141 recipients have returned all of their TARP money, leaving 787 with money still on their books (33 of those have returned a portion). A total of $273 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: $39 billion. That includes $19 billion through dividend or interest payments 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, $98 billion is the net amount still outstanding."
Last edited by 11Series; 08-08-2011 at 07:26 PM.