Thursday, January 21, 2010

Did the Banks Really Re-Pay TARP?

Well, kinda depends on how you count the chickens, or eggs, or something.

  1. What was the value for bank charter, to get cheap access to the Fed's funds? did they pay back this value yet? No!
  2. How about the payment of interest on the banks' excess reserves at the Fed. Have the banks repaid that yet? No!
  3. The Fed and the Treasury have purchased hundreds of billions of dollars of Agency debt, Agency mortgage-backed securities (MBS) and related securities through Treasury purchase programs. Have the banks paid back the capital behind those purchases yet? No!
There are seven more at the link. And these are actual, real, serious reasons. Is retroactive tax-imposition fair? No.

Will Goldman Sachs ever repay the taxpayers for their AIG proceeds? HELL, no!

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