DavyJ

Wall Street Breakfast: Must-Know News

"With the financial industry stabilized, and many banks having or about to repay the government's aid with interest, the government is in talks with lawmakers to use unspent TARP money to offset jobs spending and aid the long-term unemployed."

Yep, once the money is out there, there is no getting it back. $200 billion at 3.5% (~ten year bond rate) interest is $70 billion over ten years that is automatically added to the deficit with no accountability.

$33 Billion in Taxpayer Money Subsidized Wall Street Bonuses

Just for the record, Goldman Sachs converted from an investment bank to a traditional bank in order to receive TARP funds. That hardly seems that they "were forced into it".

It seems to me they saw the huge one time investment opportunity using taxpayer money and couldn't resist.


On Jul 31 05:31 PM homogenik wrote:

> You are right for the most part however goldman and jpm didnt need
> the bailout but were forced into it. ...

Worst Housing Number in Decades: What Is the Wall Street Media Smoking?

Seasonally adjusted, Lake Erie never freezes.