Comments for The Cost of the TARP: One More Time at http://www.cepr.net , comment 1 to 8 out of 8 comments http://www.cepr.net Wed, 19 Jun 2013 06:45:07 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/the-cost-of-the-tarp-one-more-time#comment-4508 Rather it would have been destroyed and/or vanished into thin air as financial markets reduced the value of their stocks and other financial assets to near zero. "Destroyed and/or vanished into thin air", great scott, sounds like the work of Lex Luthor! Except no dam would crumble nor building fall, the US Government could just wait for the financial markets to bottom out, then write a check "out of thin air" to buy up everything for sale at market price and then put these assets into the Social Security trust funds. - beowulf Fri, 05 Nov 2010 10:54:31 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-cost-of-the-tarp-one-more-time#comment-3466 The words you are looking for are "opportunity cost". - gordon Thu, 07 Oct 2010 13:27:36 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-cost-of-the-tarp-one-more-time#comment-3416 Yes, the Wall Street apologists are touting the fact that most of the TARP loans have been repaid. But wasn't this a transfer of funds from one government program to another? Didn't the banks use money paid to it from other government programs to consumers meant to reduce foreclosures to their homes? Not to mention, the CEO's wanted to repay these loans as fast as possible so the government couldn't complain about the big salaries and bonuses that they were giving themselves? They wanted to eliminate the possibility that the government would reduce CEO and management salaries and bonuses like they did in the case of the Auto companies? Please enlighten us...if the loans were paid back by revenues from other government programs, then they really were not "paid back".... Thanks! - David Wed, 06 Oct 2010 05:49:21 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-cost-of-the-tarp-one-more-time#comment-3378 You said:Thanks to their access to below market credit in their time of need the Wall Street executives are still pocketing tens of millions a year and the banks are again making record profits. Had the market been allowed to work its magic, this wealth and income would have been available for the rest of society. I disagree, the wealth would not have been transferred to the rest of society. Rather it would have been destroyed and/or vanished into thin air as financial markets reduced the value of their stocks and other financial assets to near zero. That is why intervention was the lesser evil-- it was better than letting the market destroy that wealth. - spencer Mon, 04 Oct 2010 09:05:46 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-cost-of-the-tarp-one-more-time#comment-3376 Pretty good rant above from Mr swinney, but the post was about TARP.... The TARP was passed by Democrats in Congress. Leading lights like Paul Krugman and Brad DeLong advocated support for the legislation by Democrats. Sad, but true. - tinbox Mon, 04 Oct 2010 04:52:47 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-cost-of-the-tarp-one-more-time#comment-3375 Wall Street Of America Formerly United States of America Democrats are nuts for not broadcasting it. 1945 to 1980 Great Middle class Years Each percentile gained almost evenly, percent,in Income-Wealth 1980 to 2009 Redistribution of Income and Wealth 1980--1% owned 20% Total Financial Wealth 1989--1% owned 36%--an 80% increase in 8 years Reagan 750B Tax cut plus market increase 1980-2009 1% Income grew by 281% Middle Class Income grew by 25% Third world stuff 2001-2009 1% took 67% of Total Individual Income Growth Bottom 90% got 10% Third World stuff 2008 1% owned 43% Total Financial Wealth (1.400,000) 80$ owned 7% (120,000,000) 1% got 24% of Total Income in that year. Redistribution from Republican Free Market Ideology Enrich The Rich catch the crumbs below They sell-"Rising (boats) Wealth lifts all boats (classes). Bull! Third World Results From 1980 3 Conservative Presidents 18 Years a Conservative Senate 12 years a Conservative House 6 years a Total Conservative Control JOBS--99,000 Net New Jobs Per Month Carter + Clinton got 222,000 per month over 12 years. 1% took most of gains. 1,400,000 rich. Debt increased by 9000B under them. From 1000B in 1980 8 International Conflicts $$$ military industrial loved them. 137 investigated-charged-convicted under Reagan Many found guilty. Most $$$ Fraud charges Third world stuff 2000-2010 Worst Decade Jobs Creation almost non existent. 31,000 per month Worst since Hoover Dow--Wow!! 11,720 in 2000 10,700 Today Back is not forward Down is not up. Housing Debacle hurt millions for many many years Financial Debacle enriched the already rich and robbed millions. Stock Market Value about 50,000 Billion. Derivatives Casino had 600,000 Billion in play world wide Billionaires created Billionaires Lost. Gambling Palace. Rich went into Gambling Frenzy so many millions were being made in such short periods. Rich stopped investing in Stocks, an asset, and into one on one betting. Many Rich went down. Many Hedge Funds closed. Where is Carlyle group which gave largest 8.5B dividend payout in history in 2008? Where is Warren Buffett hiding? Five straight quarter losses. Bet on em Warren. He did. They is da Great Weapons of Mass Destruction. Recovery? Many Many years. If WSA is not stopped from Gambling Never Never a Revolution on Main Street. VALUE ADDED INVESTMENTS JOB CREATED INVESTMENTS 1% PAY FAIR SHARE OF TAX BURDEN 2008 Tax Return Investigation by ctj.org showed 1% paid 30% of Total Income in Federal-State-Local Taxes Middle 20% paid 27% almost the same. That is wrong. Top 10% Must pay 50% of Total Income not 30% There is not enough Income in bottom 80% to support our government It was not just Growth in Spending It was also Loss Of Revenue which allowed rich to get Ultra Rich. 1990 was GREAT Decade 1999 Glass Steagall Voided. 2000 Bill allowed WSA big time free GAMBLING Those two created our Disasters. Plus Bush mob ideology of Free Market knows best. Let em go. Reagan + Bush Deregulate a disaster for Middle Class. DARWIN--Strong Devour Weak RICH--Devour ALL OTHERS no unions means no power for labor to fight robber barons and huge CEO payoff sat workers expense When 7% or 120,000,000 of 140,000,000 workers own 7% of Total Financial Wealth that 7% has NO POWER. NONE except a Vote. Yet! That 93% control the Media and can suggest the 7% to do their bidding by lies. Plus sending our jobs overseas with no dissent EXAMPLES Health care Reform--For decades 70% polls said Reform That Expensive Sucker. 135M spent by Insurers promoting LIES via organizations such as Tea Potty, Americans For Prosperity and 70% said Do Not Reform that Expensive Sucker. Same with Financial Reform. 70% for Reform. Now mute. silent. 100 M + spent on Lies. Reminds me as to how susceptible are the people. Reagan invaded Grenada.Polls all 70% against it. He went on TV from Oval Office. He said: "We have whipped the Vietnam Syndrome and got Communism on the run". Then, 70% approved the invasion. Americans are not intelligent It will get worse with Internet and 24/7 Talk Shows unrestricted. FAIRNESS DOCTRINE bring it back. You attack me I get rebuttal time. Fair. Thanks for your writing excuse length of my rant. clarence swinney burlington nc cswinney2@triad.rr.com many posts at google: clarence swinney + wreckonomics--+ Praise Clinton + rape Of Middle Class + democrats create wealth and jobs + Bush lies + Bush waffles + clinton terrorism + how to identify a Republican + clinton vs reagan + carter vs reagan - CLARENCE SWINNEY Mon, 04 Oct 2010 04:22:43 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-cost-of-the-tarp-one-more-time#comment-3374 Tarp 700B but but but In 2008 Bush Adm. promised 8500B in assistance via grants, guarantees etc. details google kathleen pender + bailout clarence swinney - CLARENCE SWINNEY Mon, 04 Oct 2010 04:17:45 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/the-cost-of-the-tarp-one-more-time#comment-3363 Ok Mothersticker, this is an Eff-Up. Give me all your money or I'll freeze all your financial accounts. Move it before I put a stop on that car and college loan. Everything in the bag - wealth, income, home, cash on hand, personal valuables, job, retirement and Social Security. Everything. What's the alternative? On whose authority? What are you, a stupid liberal? Read the stick-up note fool. It's signed by Paulson, Bernanke and the Boy Monarch as a Critical Rescue of Last Resort. I'm not a crook. I'm here to save you. From me. - izzatzo Sun, 03 Oct 2010 14:08:57 +0100