The Conservative Cave
Current Events => The DUmpster => Topic started by: thundley4 on December 14, 2009, 11:55:51 AM
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AllentownJake (1000+ posts) Mon Dec-14-09 10:38 AM
Original message
Another Colossal Mistake
Your government just blew it again. Big time.
How?
By allowing the biggest zombie banks, Bank of America and Citigroup, to pay back TARP before we dealt with the biggest problem plaguing our financial policy of the past few years: Too Big To Fail.
As long as the banks were on the hook for that TARP money, the government had some ability to dictate reform. Now it has none.
And in case you missed what is really going on here, the banks that repaid TARP are now getting all the benefits of government help with none of the drawbacks. They just ditched the bad stuff--namely, pay caps--and kept the good stuff (implicit bond guarantees, subsidized super-low interest rates, no obligation to do anything for anyone). Obama can jawbone all he wants about "fat cats," but that's all he can do. Wall Street has him and the rest of Washington right where they want him: By the balls.
http://www.businessinsider.com/henry-blodget-what-a-col...
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x7222400
We know most DUmmies prefer controlling businesses to letting businesses be profitable.
Kahuna (1000+ posts) Mon Dec-14-09 10:54 AM
Response to Reply #3
7. I think it's stupid to be pissed about the banks paying back the TARP
too soon because they(banks) believe that will make congress reconsider reform. One thing should have nothing to do with the other. The banks can believe what they want to. That doesn't make it so. Give it a rest. First the baggers are pissed about the TARP funds being given. NOW they're pissed about them being paid back. These are people who just want to be pissed. I get it.
DUmmies are "baggers"?
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DUmmies are "baggers"?
Yeah, really. That Little Goon didn't make any sense at all.
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By allowing the biggest zombie banks, Bank of America and Citigroup, to pay back TARP before we dealt with the biggest problem plaguing our financial policy of the past few years: Too Big To Fail.
As long as the banks were on the hook for that TARP money, the government had some ability to dictate reform. Now it has none.
That's a good thing, you moron! :banghead:
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By allowing the biggest zombie banks, Bank of America and Citigroup, to pay back TARP
By allowing? ALLOWING? hahahahahaha! :lmao:
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By allowing? ALLOWING? hahahahahaha! :lmao:
Sadly that is true. TurboTaxCheat geitner didn't let them repay the money they were forced to take earlier in the year.
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Sadly that is true. TurboTaxCheat geitner didn't let them repay the money they were forced to take earlier in the year.
Yep, several stories were posted on here about the government refusing to allow the banks to pay back the borrowed money several months ago.
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Sadly that is true. TurboTaxCheat geitner didn't let them repay the money they were forced to take earlier in the year.
Yes, but the banks finally took my advice and put the payback money in escrow, told the "administration" it was there for the taking, and regardless if the "administration" took it or let it set, the banks considered it repaid.
Ta - DAAAAAAAh!
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I like how a lot of this stuff is backfiring on the administration. Banks are getting their act together as fast as they can to get out from under this communist group in DC. It's becoming a big FU and I am enjoying it.
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I like how a lot of this stuff is backfiring on the administration. Banks are getting their act together as fast as they can to get out from under this communist group in DC. It's becoming a big FU and I am enjoying it.
The high-minded socialists always function under the assumption their victims will calmly clasp their hands together, sit down, and sigh to themselves, "Well, this is my life now - I must learn to accept it".
This unnatural and baseless assumption on the part of liberals and socialists is why they are SHOCKED! that New York City is bleeding millionaires and California is soon to be without industry. The millionaires and the captains of industry were suppose to clasp their hands and sit down.
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The high-minded socialists always function under the assumption their victims will calmly clasp their hands together, sit down, and sigh to themselves, "Well, this is my life now - I must learn to accept it".
This unnatural and baseless assumption on the part of liberals and socialists is why they are SHOCKED! that New York City is bleeding millionaires and California is soon to be without industry. The millionaires and the captains of industry were suppose to clasp their hands and sit down.
And Texas is probably getting a big share of those millionaires from NY . . .
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This whole thing is crazy. Obama "bailed them out" now after they are back on their feet he is going to force them to do the same thing that got them in the mess in the first place then tells them they have to shut up and can not speak against the reforms he wants.
I have never seen a president try to silence the opposition like Obama has been doing. I swear I woke up in a really bad twilight zone episode.
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I swear I woke up in a really bad twilight zone episode.
Welcome to Benit--er, Bo's, America.
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Welcome to Benit--er, Bo's, America.
Yeah but the trains still do not run on time.