TARP Paid Back Money Where Does it Go?

Robert Toy · Jul 31, 2009

“And even though the bank bailout began under the previous administration, and I wasn’t always happy with the lack of accountability when it was first begun, I do believe that it was actually necessary to step in, because by unlocking frozen credit markets and opening up loans for families and businesses, we helped stop a recession from becoming a depression. And by the way, taxpayers are already being paid back by the banks — with interest.”

Obama Raleigh Health Care Town Hall Full Text
http://www.obama-mamas.com/blog/?p=326

Question, where does the paid back money go?

~~They (the government) can’t legally disburse these funds to another project.~~
Sorry I lost my head for a minute

whistlelock · Jul 31, 2009

uh...the government...? :Shrug:

CACTUSWENDY · Jul 31, 2009

Psst.....don't tell anyone...but....................I have a secret paypal account set up and as the paid back money comes in...they put it in my account. I thought it was only fair since I didn't get any of the money to start with. I have a really great team that lobbies for me.

Carry on.....

Alphabeter · Aug 1, 2009

Careful Wendy. People might take you seriously enough to start a real problem!

My understanding from one of the 'little' banks I do business with, is that their returned TARP funds are literally going to refund the CARS aka Cash for Clunkers program. "It beats trying to figure out how to use the money quickly and stupidly enough for the Feds" was his comment.

MattW · Aug 1, 2009

So all this TARP money has allowed some banks to post big profits - are we sure they are using to funds to remain solvent in the long term, or are they just propping up revenue streams with low interest public funds?

Robert Toy · Aug 1, 2009

MattW said:
So all this TARP money has allowed some banks to post big profits - are we sure they are using to funds to remain solvent in the long term, or are they just propping up revenue streams with low interest public funds?

Funny, most (majority) of the banks did not ask for TARP funds but were forced by the FED to take them. So now we can beat the crap out of equally

Alphabeter · Aug 2, 2009

"My" bank didn't need the money but our (D) senator lobbied for his state's share and so if the bank did business in the state, they had to take TARP money-even if they had no sub-prime loans and/or were not in "trouble". Now the banks can't return it fast enough to avoid the Fed thumb. Talk about laundering dirty money!

Noah Body · Aug 2, 2009

The money gets returned to the Treasury. From there, who the hell knows? I don't, and I work for the Fed.

Alphabeter · Aug 17, 2009

Everything and everyone is just numbers on a screen....reality need not apply.

TARP Paid Back Money Where Does it Go?

Robert Toy

FOB and Slayer of windmills

whistlelock

Whiskey Rebel

CACTUSWENDY

An old, sappy, and happy one.

Alphabeter

Player of the Letters

MattW

Company Man

Robert Toy

FOB and Slayer of windmills

Alphabeter

Player of the Letters

Noah Body

Entertainment Ronin

Alphabeter

Player of the Letters