Wow, TARP worked!!--NOT (dollars, economy, financial crisis, money)

[carterstamp]

Well, gee looks like Washington had it's priorities in order when they spent tax dollars on saving these crooks. Way to go.

Hint, maybe next time somebody should insert a little oversight before giving away our money.

Banks receiving government aid cut loans - USATODAY.com

Banks receiving government aid cut loans

Banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn't get aid, a USA TODAY/American University review found.

The reduction of credit during the worst of the recession raises questions about whether the $247 billion assistance program achieved one of its primary goals: to stimulate the economy by reviving the flow of credit to businesses and individuals.

[summers73]

If the banks loaned the money, we'd be experiencing huge amounts of price inflation right now. Banks are literally awash with money.

[cleanhouse]

Originally Posted by summers73

If the banks loaned the money, we'd be experiencing huge amounts of price inflation right now. Banks are literally awash with money.

Yup, their coughers are filled to the brim with cash.

Lets see what they might do with it:

1) Lend it out , hope they make money in interest and fees that is if the principal is ever paid back!

2) Use it to trade commodities equities debt...

3) Create and trade more exotic securities and sell them as treasuries when actually they are tied to Greece Debt.

4) Continue to sit on it knowing the next crisis is happening within the next 5 years. At which time there will be no taxpayer bailout so they will need this garganchuin amount of cash to survive while businesses and people go bankrupt.

please add...

[texdav]

Originally Posted by carterstamp

Well, gee looks like Washington had it's priorities in order when they spent tax dollars on saving these crooks. Way to go.

Hint, maybe next time somebody should insert a little oversight before giving away our money.

Banks receiving government aid cut loans - USATODAY.com

Banks receiving government aid cut loans

Banks that received federal assistance during the financial crisis reduced lending more aggressively and gave bigger pay raises to employees than institutions that didn't get aid, a USA TODAY/American University review found.

The reduction of credit during the worst of the recession raises questions about whether the $247 billion assistance program achieved one of its primary goals: to stimulate the economy by reviving the flow of credit to businesses and individuals.

Yep and you left out the TARP to the automakers and their unions. Both should have been allowed to fail as they have aimed that way for decades.

[carterstamp]

Originally Posted by texdav

Yep and you left out the TARP to the automakers and their unions. Both should have been allowed to fail as they have aimed that way for decades.

Actually, GM went belly up and Ford refused the money.