Wednesday, October 27, 2010

Did TARP Actually Return Profits?

Oh, yah, the Gummint spinners (and the Banks) are happy to yappy that TARP is a profit-maker.

Well, yes.

If you don't count the $135 billion (and maybe $245 Billion) that Fan/Fred are losing.

...On crap-paper they bought from the Banks.

....which Banks are now "repaying" TARP, with interest.

IOW, the taxpayer recapitalized the Banks, then cleaned up their portfolios---and now Obama/TurboTim & Co. are telling you that it was a helluva good deal for the taxpayers.

*No, not ALL the Banks. Not yet, anyway.

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