The taxpayers made a $22 billion profit on the AIG bailout

[ichy]

http://www.latimes.com/business/la-fi-mo-aig-bailout-treasury-department-20121211,0,3388388.story

In the end a lot of the bailouts were NOT handouts to the rich as the Occupy idiots made them out to be. I know that the Treasury also made a substantial profit on Citigroup. It would be interesting to see the financial picture for the overall TARP program. I bet in the end the bailouts of GM and Chrysler will cost the taxpayers far more than the bank bailouts did.

 

[michal1980]

but, but, banks and profits are evilll.

 

[zsdersw]

but, but, banks and profits are evilll.

Bu..bu..bu bailouts are evil.

 

[soulcougher73]

But...but..my hands are still raw from the last conservative circle jerk.

 

[nehalem256]

In the end a lot of the bailouts were NOT handouts to the rich as the Occupy idiots made them out to be.

I find it funny that the bailouts were essentially government loans.

And then the Occupy idiots want bailouts for their government backed student loans. Sounds like they want bailouts for their bailouts ^_^

 

[BoberFett]

But...but..my hands are still raw from the last conservative circle jerk.

Why were you jerking off conservatives?

 

[soulcougher73]

Why were you jerking off conservatives?

I was hoping it would give them some relief and lighten up a bit. I was wrong.

 

[Fanatical Meat]

But...but..my hands are still raw from the last conservative circle jerk.

best line of the day

 

[nehalem256]

Why were you jerking off conservatives?

Because all conservatives are men, and we all know conservatives would never jerk each other off. That would be gay

 

[soulcougher73]

Because all conservatives are men, and we all know conservatives would never jerk each other off. That would be gay

And we've never seen or heard of a conservative closet gay before....

 

[waggy]

wow this thread took a turn..


/me gets in line for circle jerk

 

[techs]

While the exact cost of TARP is still unknown from what I have read it will be far less than 100 billion dollars.
IIRC the Savings and Loan bailout under Reagan was 300 billion dollars. And that was in 1980's dollars.

The lesson of TARP is that tens of thousands of businesses and millions of people were going to lose their businesses and their life savings through no fault of the their own and that by the government stepping in at LEAST tens of millions of Americans did not lose everything and that everyone else did not have to undergo at least a decade of pauperism.

 

[Pr0d1gy]

While the exact cost of TARP is still unknown from what I have read it will be far less than 100 billion dollars.
IIRC the Savings and Loan bailout under Reagan was 300 billion dollars. And that was in 1980's dollars.

The lesson of TARP is that tens of thousands of businesses and millions of people were going to lose their businesses and their life savings through no fault of the their own and that by the government stepping in at LEAST tens of millions of Americans did not lose everything and the everyone else did not have to undergo at least a decade of pauperism.

But, but, but, Capitalism!? Bailouts are socialism and just look at all the Republicans in here endorsing this socialist practice.

http://www.wsws.org/articles/2008/oct2008/soci-o15.shtml

Here is a small sample:

Charges that the Wall Street bailout is socialism have come most frequently from the far right wing of the Republican Party. To note a few examples, Congressman Jeb Hensarling, a Texas Republican, claimed that Paulson's plan may put the US on, "the slippery slope to socialism." Representative Sam Johnson, also of Texas, warned, "As a relentless supporter of free enterprise, I fear we are rushing headlong into socialism." Senator Jim Bunning of Kentucky called Paulson's measures, "financial socialism" and "un-American." Congressman Thaddeus McCotter of Michigan even compared the bailout to the Bolshevik Revolution of 1917.

Yes, the good ole free market capitalist economy.....lol

 

[soulcougher73]

But, but, but, Capitalism!? Bailouts are socialism and just look at all the Republicans in here endorsing this socialist practice.

http://www.wsws.org/articles/2008/oct2008/soci-o15.shtml

Here is a small sample:

Charges that the Wall Street bailout is socialism have come most frequently from the far right wing of the Republican Party. To note a few examples, Congressman Jeb Hensarling, a Texas Republican, claimed that Paulson's plan may put the US on, "the slippery slope to socialism." Representative Sam Johnson, also of Texas, warned, "As a relentless supporter of free enterprise, I fear we are rushing headlong into socialism." Senator Jim Bunning of Kentucky called Paulson's measures, "financial socialism" and "un-American." Congressman Thaddeus McCotter of Michigan even compared the bailout to the Bolshevik Revolution of 1917.

Yes, the good ole free market capitalist economy.....lol

*My best conservative impersonation*
Its only socialism when it doesnt work, and capitolism when it does.

 

[nehalem256]

*My best conservative impersonation*
Its only socialism when it doesnt work, and capitolism when it does.

Its capitalism when its a loan. Its socialism when its a gift.

 

[nehalem256]

But, but, but, Capitalism!? Bailouts are socialism andjust look at all the Republicans in here endorsing this socialist practice.

http://www.wsws.org/articles/2008/oct2008/soci-o15.shtml

Here is a small sample:

Charges that the Wall Street bailout is socialism have come most frequently from the far right wing of the Republican Party. To note a few examples, Congressman Jeb Hensarling, a Texas Republican, claimed that Paulson's plan may put the US on, "the slippery slope to socialism." Representative Sam Johnson, also of Texas, warned, "As a relentless supporter of free enterprise, I fear we are rushing headlong into socialism." Senator Jim Bunning of Kentucky called Paulson's measures, "financial socialism" and "un-American." Congressman Thaddeus McCotter of Michigan even compared the bailout to the Bolshevik Revolution of 1917.

Yes, the good ole free market capitalist economy.....lol

So where exactly is the endorsement?

 

[techs]

Its capitalism when its a loan. Its socialism when its a gift.

So, basically under Reagan we gave the banks a gift and under Obama we gave them a loan.

Who's the socialist again?

 

[nehalem256]

So, basically under Reagan we gave the banks a gift and under Obama we gave them a loan.

Who's the socialist again?

You do realize TARP and the AIG bailout were done under Bush right?

EDIT: And according to Obama Reagan was a socialist. So does that mean that when Democrats say that Reaganomics is a failure, they are saying socialism is a failure?

 

[zsdersw]

You do realize TARP and the AIG bailout were done under Bush right?

That fact was curiously absent during the presidential race.

 

[techs]

You do realize TARP and the AIG bailout were done under Bush right?

Why are bring politics into this economics thread?

 

[Pr0d1gy]

*My best conservative impersonation*
Its only socialism when it doesnt work, and capitolism when it does.

Quoted for truth.

 

[wirednuts]

its only socialism when you don't qualify for it.

who ever thought giving a giant loan to someone might make you a lot of money in interest?

if the government would have given that money to the citizens of america instead, would they have given it back by now with interest?

 

[nehalem256]

if the government would have given that money to the citizens of america instead, would they have given it back by now with interest?

Do people on welfare pay it back with interest?

Do people on food stamps pay it back with interest?

Do people on medicaid pay it back with interest?

Do people on section 8 pay it back with interest?

etc, etc..

 

[Paul98]

hahahaha, I find the republicans in this thread very funny.

 

[Jhhnn]

You do realize TARP and the AIG bailout were done under Bush right?

Quite true, and the Bushistas had to perform a complete reversal of policy to do it. Obviously, when a deregulated free market financial sector runs wild with innovative financial products & nearly destroys itself & the whole economy, why, the right thing to do is to save them from themselves, then claim Obama did it. Meanwhile, make sure that they can do it again when the opportunity presents itself.