Article

2010-04-03 Economy

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Posted by Steve White 2010-04-03 00:00|| || Front Page|| [3 views ] Top

#1 Oh, yeah, it's working all right - working to further bankrupt America while rewarding Bambi's cronies. >:-(

Posted by Barbara Skolaut 2010-04-03 00:29|| 2010-04-03 00:29|| Front Page Top

#2 that is exactly as it was designed... :(

Posted by abu do you love 2010-04-03 00:41|| 2010-04-03 00:41|| Front Page Top

#3 TARP did not fix anything. It papered over the problems so the connected people could get their assets out. The real estate bubble has yet to really pop. The banks are virtually all insolvent at properly marked-to-market values and will be until productive employment can generate income sufficient to pay the price for houses and businesses. - and at an interest rate that can at least somewhat support the (we) aging baby boomers.

Posted by Glenmore 2010-04-03 01:20|| 2010-04-03 01:20|| Front Page Top

#4 What Glenmore said. TARP did nothing but rescue bank shareholders, ie precisely the people who should have lost their shirts.

Nor did TARP rekindle bank lending as much as had been hoped.

Understatement of the year. The real cost of TARP is shown in the ridiculously low cost of funds accorded to the insider mega-banks that have not used this massive giveaway to restore lending and credit.

In effect, there has been a massive transfer of wealth, perhaps as much as a trillion dollars, from hundreds of millions of depositors and borrowers to a few thousand mega-bank executives and big shareholders. Hard to imagine a more perfect example of regulatory capture. United States of Argentina.

Posted by lex 2010-04-03 03:38|| 2010-04-03 03:38|| Front Page Top

#5 Did the money all get plowed back into the stock market? Is that why the market is so strong? Opinions please.

Posted by Besoeker 2010-04-03 08:59|| 2010-04-03 08:59|| Front Page Top

#6 Did the money all get plowed back into the stock market? Is that why the market is so strong? Opinions please.

Most of it did.

Fundamentally the problem is that governments everywhere are addicted to the revenues from asset bubbles - stocks, real estate, etc. So they are desperately trying to reinflate these bubbles, ie stop deflation. Deflation is good for the economy and most people, for the simple reason, most stuff gets cheaper.

Posted by phil_b 2010-04-03 18:00|| 2010-04-03 18:00|| Front Page Top

#7 So how many troubled assets did the Troubled Asset Relief Program relieve? The $700 billion dollar program was sold as the equivalent of the poorly managed, but ultimately effective bailout of S&L's many years ago. Instead it's turned into a political slush fund and the bad assets are still on the books but have been ignored (for now). If a private company did this kind of thing - people would be going to jail.

Posted by DMFD 2010-04-03 21:25|| 2010-04-03 21:25|| Front Page Top

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