Under Obama $700B TARP to cost less than $70B

In October of 2008, President George W. Bush passed the $700 BILLION dollar "Troubled Asset Relief Program" (TARP) to rescue an economy on the brink of collapse.

In less than two years under a Democratic president with Democratic Congress, the economy recovered to the point where LESS THAN ONE TENTH of the appropriated TARP funds needed to be spent, and the program may even turn a profit.

Category:

News & Politics

Tags:

• Troubled
• Program
• Conservative
• Republicans
• Republican
• failure
• election
• Tea
• Party
• economic
• economcs

[moonraven3]

Pure comedy. Profit or no profit, how can anyone justify the government, both D or R, lending your money to any multi-billion dollar corporation. It's not capitalism, it's wrong. Plus the $700 billion actually is in the tune of trillions of dollars not that chump change.

[BI30]

@moonraven3 Had Phil Gramm of not repealed Glass-Stegal in 1999, the "bailout" would of been unnecessary. And you have your choice of news reports to confirm the final cost of TARP is to be around $25B, since less than $200B was actually spent, and after the banks repay their loans WITH INTEREST next year.

[david510152025303540]

@uche007us Here is a plan to create 10 million jobs instantly

The plan basically is...: the fed pays 20% of the salary, the employer pays 80% of the salary and at tax time the employee pays back 25% of the salary to the fed . Then bingo you have 10,000,000 jobs that only cost the fed $68,000,000,000.00, less than one tenth what they paid the Banks. However you now have 10,000,000 people with $34,000.00 in spending power to stimulate the economy and the deficit is lowered by 25%.

[dizzymasekela]

Thank you President Obama.

Tea baggers are inbred dipshits.

[uche007us]

@RichardE8ST $700 Billion (not counting the trillions lent through the FEDS discount window) at almost 0% interest rate and after 2 yrs, the govt only lost $70b. I dare the democrat or the corporatist repubs who pushed this abomination to run on it.

If the banks invested in govt bonds which everyone can do, they would have turned a bigger profit that this. And ofc this is assuming that we borrowed the 700b @ 0% interest rate.

The TARP bailout is the biggest scam in the history of the US.

[RichardE8ST]

@awreslr2 Republican opposition the the TARP bailout is one of their main political points. You can bet they won't be spending much time on this or any other success story on Fox/republican news.

[awreslr2]

This information should be out there for everyone! Unfortunately the media will NOT make this widely known.