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No mention of the TARP money to GM or Chrysler..we're gonna have to eat that money.
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That's what people like you said about the banks, but it was not true. GM and Chrysler have said they will pay back and be private again, so maybe you are wrong again.
That's what people like you said about the banks, but it was not true. GM and Chrysler have said they will pay back and be private again, so maybe you are wrong again.
No one said that about the banks. I don't recall reading anything about GS or JPM not being able to pay back TARP.
GM/Chrysler, on the otherhand, have had plenty of articles written about that money being gone.
No one said that about the banks. I don't recall reading anything about GS or JPM not being able to pay back TARP.
I remember it, because it is such a short while ago. People were screaming that the government was nationalizing the entire banking industry and Wall Street and the oil industry was to be next. They said the govt was "taking over".
They said the banks would not be allowed to pay back even if they wanted to. It was supposed to be the end of private business in US, and you don't remember it?
Browse this very forum from 2008 and 2009 to refresh your memory. I think you don't remember it because you knew they were empty, meanginless words aimed to scare the gullible.
Bush may have agreed to backstop a limited amount, but Obama gave Fannie and Freddie a Christmas present of unlimited access to taxpayer-funded bailouts:
"On December 24, the Obama administration announced it was extending an unlimited credit line to mortgage finance agencies Fannie Mae and Freddie Mac, which would keep them afloat no matter how high their losses. Representative Dennis Kucinich, an Ohio Democrat who was an early opponent of Obama in the 2008 presidential race, thinks the move is backdoor way to help banks, and a congressional subcommittee he leads is investigating the Treasury's decision to cover unlimited losses at the housing finance companies." Unlimited credit for GSEs seen as backdoor bailout | Reuters
TARP was passed under Bush. For the liberals saying TARP is a good thing, Obama 'inherited' this, so don't get too excited trying to give him credit.
LOL.... Gotta flip back to this now?
When there's something BAD to mention about TARP you all have to point out that it was mostly supported by Democrats in Congress with a scant few Republican votes and point out that "OBAMA SUPPORTED IT!!!! OBAMA SUPPORTED IT!!!!"
Why? Because they were always set up for private gains and public losses. That is what government 'sponsorship' meant. The only time they actually needed government bailout was September 2008, and they were bailed out immediately.
TARP was passed under Bush. For the liberals saying TARP is a good thing, Obama 'inherited' this, so don't get too excited trying to give him credit.
And just who passed it ? A Democratic Congress perhaps ?
And Bush only used 2 of three installments and asked Obama if he wanted the third one to spend himself after he got in office. Obama said yes.
So which party..Dem or Repub is responsible for TARP ?
The only correct answer here is BOTH parties.
Worry about the state of America rather than trying to find gold stars to pin on your party for not doing what the other guy did. Blame and finger pointing won't fix this country. Can't you see that happening today in Congress ? Dem majority and yet they continue to blame the Republicans.
Are you Dems satisfied with that type of answer and reason why nothing is being done ?
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