- Jan 28, 2005
- 2,145
- 26
- 91
78? only 78 convictions related to the banking bailout? How many hundreds of convictions resulted from the much smaller savings and loan bailout of the 1980s?
http://www.sigtarp.gov/reports/congress/2012/April_25_2012_Report_to_Congress.pdf
Report from the Office of the Special Inspector General for the Trouble Asset Relief Program says:
It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost).
Fifty of those individuals have been convicted
You might want to check out my thread on the lack of reforms:
http://forums.anandtech.com/showthread.php?t=2241729
http://www.sigtarp.gov/reports/congress/2012/April_25_2012_Report_to_Congress.pdf
Report from the Office of the Special Inspector General for the Trouble Asset Relief Program says:
It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost).
A significant legacy of TARP is increased moral hazard and potentially disastrous consequences associated with institutions deemed too big to fail. TARPs legacy also includes the impact on consumers and homeowners from the large banks failure to lend TARP funds. TARP continues to be subject to criticism that TARP helped large banks but not homeowners.
In addition, after 3½ years, community banks have an uphill battle to exit TARP because they cannot find new capital to replace TARP funds. Finally, TARPs legacy includes whitecollar crime that SIGTARP is uncovering and stopping."
SIGTARP investigations have resulted in criminal charges against 78 individuals.
Fifty of those individuals have been convicted
You might want to check out my thread on the lack of reforms:
http://forums.anandtech.com/showthread.php?t=2241729