The Latest on Those Wall Street Bailout Dollars
EmailThe Obama administration will report to Congress tomorrow that the Troubled Asset Relief Program is expected to:
· Turn a profit of roughly $20 billion dollars from money invested in banks and returned;
· Lose roughly $30 billion from investments in AIG, though of course that investment is not over (so it could end up being more or less); and
· Lose roughly $30 billion from investments in the automakers though of course those investments are not over (so it could end up being more or less).
In addition:
· the Obama administration anticipates that when its new budget is published in February, it will show that the cost to taxpayers and the deficit will be at least $200 billion lower than the $341 billion estimate projected in the Mid-Session Review published in August.
· Of the $370 TARP funds disbursed, to date banks have repaid $71 billion, and Bank of America’s planned repayment would bring that total to $116 billion.
- jpt
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Is Congress Sounding Dumber?
First, I want to say, I am glad that ABC has allowed me to comment again. The six or so month ban, has left me wondering. Also, I want to thank Jake Tapper for being a REAL journalist, who does not take sides on anything, and only reports. I only hope others in journalism can follow his example. Maybe in, questioning the WHITE HOUSE! Thanks Jake for being a man of the facts and nothing less. I respect that a lot.
AND NOW FOR MY COMMENTARY ON THE CURRENT SITUATION IN THE UNITED STATES….
And once again, another slush fund for Congress is created. I don’t recall the auto bailout part of the TARP deal. But it doesn’t matter anymore. We all knew that the repayment would just be another money bag deal for the government. And another excuse to use the money to pay for this administration’s power grab for control. Communism isn’t that bad, right? We’ve had it little by little the last hundred years.
We see, (well, if you actually investigate what is going on around the world), that other countries are in turmoil over the economic crisis. Some of it is turning into anarchy, such as in Greece. But in America, you won’t see anarchy. You will start to see people standing for their republic again. When you fill out your census, tell them you are a male or female US citizen and THAT IS ALL! No more of this control. WE are supposed to run this show. And if this is a nation founded on laws, then THE GOVERNMENT better learn them too. Take a stand. Thomas Jefferson said, “When the government fears the people, there is liberty. When the people fear the government, there is tyranny.”
We get this bailout and stimulus and unemployment extentions, and handouts, and welfare bullcrap speeches spewed out to us, like it’s supposed to help everything out. History is a pretty important thing. And it is well documented and easy to read. No one in their right mind sees this path as one that is not going to collapse. We’ve pushed our problems down the road for too damn many years. It’s time to man up. Sure, we’re going to have to face the problems that the government caused us, but better to do it now, than for the freedoms and liberties that this country was founded on, to be lost forever.
Posted by: clint | December 7, 2009, 12:16 am 12:16 am
All that I’m going to add to future commenters, is… take a good look, a good long look at USDEBTCLOCK. Tell me how you and me and your children and the kids of the future can pay this off. And how this can can’t be kicked down the road anymore. We are going to have to make some hard decisions now, but when Obama doesn’t keep his hands off the US WELFARE BUTTON, it isn’t going to make it any easier to avoid this collapse. Unemployment extensions are NOT the answer to the job problem. We have to ask ourselves as Americans, seriously…when our President thinks that spending more money and extending unemployment is the answer to the job loss; isn’t it time we NOT break our back to get to our job, but break our back to get to Washington. People count. We need to study history and economics again, and make the average person viable as a candidate to lead this country again. It’s our calling.
Posted by: clint | December 7, 2009, 1:07 am 1:07 am
I don’t recall the auto bailout part of the TARP deal.
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You should pay more attention.
Posted by: tierra | December 7, 2009, 1:48 am 1:48 am
We get this bailout and stimulus and unemployment extensions, and handouts, and welfare bullcrap speeches spewed out to us, like it’s supposed to help everything out. History is a pretty important thing. And it is well documented and easy to read. No one in their right mind sees this path as one that is not going to collapse.
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Exactly…:(
Posted by: wow | December 7, 2009, 3:12 am 3:12 am
Clint:
“We get this bailout and stimulus and unemployment extentions, and handouts, and welfare bullcrap speeches spewed out to us, like it’s supposed to help everything out.
“History is a pretty important thing. And it is well documented and easy to read. No one in their right mind sees this path as one that is not going to collapse.”
Welcome back, Clint. I was also banned for a while. The banning appears somewhat arbitrary as some call names and spew hatred without missing a day. Oh well…
Great post. You have hit the nail on the head. No one should be celebrating what is happening to our country. A thousand cuts is slowly but surely bleeding us dry…
Posted by: Terra Firma | December 7, 2009, 3:22 pm 3:22 pm
“Posted by: Terra Firma | Dec 7, 2009 3:22:05 PM”
So what was your screen name before?
Posted by: Ryan C | December 7, 2009, 6:55 pm 6:55 pm