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WSJ - TARP: Billions in Loans in Doubt

Discussion in 'Preparedness & Survival' started by ATCclears, Apr 25, 2012.

  1. ATCclears

    ATCclears Seattle area, WA Well-Known Member

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    Some Small Banks Can't Repay TARP - WSJ.com

    A snippet since this may be paid content:

    "Hundreds of small banks can't afford to repay federal bailout loans, a top watchdog will warn Wednesday in a report that challenges the government's upbeat assessment of its financial-system rescue.

    Christy Romero, special inspector general for the Troubled Asset Relief Program, said 351 small banks with some $15 billion in outstanding TARP loans face a "significant challenge" in raising new funds to repay the government.
    ...
    The report is the latest sign of a yearslong squeeze on smaller banks, those with less than $1 billion in assets. Their numbers and profitability have been declining due in part to regulatory and technological changes that made bigger institutions more profitable."

    Watch your funds if you're using a smaller bank, especially if some of your funds exceed FDIC insurance limits or the bank is not insured by the FDIC.

    Peter
     
  2. JGRuby

    JGRuby Portland Oregon New Member

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    Thank you GW - brought to you by a republican president.

    The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.

    James Ruby
     
  3. Rascals

    Rascals Portland Or Active Member

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    15 billion? Thats what obama spends before breakfast and doesnt even blink. Not to mention they might of had a chance if obama did not run the market down and have most people afraid to spend money becasue we dont know what laws will change next week or next month or next year. Well now I feel its all obamas fault and I bet we hear that alot in the future. And the reason is. It is his fault.
     
  4. JGRuby

    JGRuby Portland Oregon New Member

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    Give credit where credit is due - GW signed the TARP bill during the end of his eight years of presidency - due to his inability to manage this country - regardless of who won the last election this would have been passed on to the existing president ( republican or democrat ) it just happens to be Obama. I beleive that alot of this build up occured during GW's presidency but also was coming due to alot of activities from past presidency's. To me it is one more example of something the GW started and could not finish during his eight years. This started before Obama and was a mess that he inherited.

    So please tell me specifically how Obama ran the market downa and created this mess? You are welcome to your opinions but so far you have not provided evidence to support your postion.

    James Ruby
     
  5. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    Give Credit to the Progressive Republican. It is the Progressive that is the enemy here, both in the Republican and Democratic Parties as both have been co-opted.
     
  6. Rascals

    Rascals Portland Or Active Member

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    If you need proof from me you need to wake up you have more problems then you think. At every turn he has done everything he can to destroy America as we knew it. If you dont see that then there is no chance for you to see any light other then the emperors own. How about you show us all the good things he has done? Please show us all of the transparency we were supose to get? And what is 15 billion with all the money they have spent? Heck I wish when I was 12 I could go on vacation with my friends on the American tax payers dime. Must be nice. No I had to go to work so I could pay my taxes.
    So when you can come up with that list you can just message me and we can go from there. But I figure you are like most and want to blame Bush again. You know the crying wolf for so long has got old. And its just not me that feels that way. A whole bunch of tax payers are feeling the same way. So good luck on that list.
     
  7. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    Lets see......You could spend 15 Billion Dollars every day for 200 days before spending 3 Trillion Dollars!


    But, somebody check my math.....
     
  8. Jamie6.5

    Jamie6.5 Western OR Well-Known Member

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    There you go again JG, slamming Bush for signing into law, a constitutionally written bill.
    A bill passed by a democrat controlled congress, with Nancy Pelosi and Harry Reid in charge of their respective houses.
     
  9. JGRuby

    JGRuby Portland Oregon New Member

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  10. JGRuby

    JGRuby Portland Oregon New Member

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    It was done on his watch. He was the president - he could have vetoed.

    James Ruby
     
  11. Dunerunner

    Dunerunner You'll Never Know Well-Known Member

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    Rascal is right. The Congress, both the House of Representatives and the Senate were controlled by Democrats the last two years of the Bush Administration. All legislation produced in those years came from that body.

    However, Bush could have vetoed it. Who know what would have happened if he had?
     
  12. Jamie6.5

    Jamie6.5 Western OR Well-Known Member

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    Obama didn't. But neither did GW.
    Actually, this mess started under Clinton. The first Credit Default Swap was made by JPMorgan/Chase in the '90s.

    Terri Duhon | Oral Histories | FRONTLINE | PBS

    Then when Glass-Steagall was repealed, it changed the industry, and Clinton did nothing to monitor, much less regulate the expansion. The result was the trading of CDOs and CDSs exploded without monitoring or regulation.

    The expansion of the subprime mortgage market in 1995, the driver of the sale of CDSs, and Credit Default Obligations took place under Clinton when he, and B. frank, and C. Dodd insisted that fannie and freddie buy a much higher percentage of subprime.
    Then when the financial markets expanded/changed, Clinton did NOTHING to expand the SEC, Commerce Dept., or The Treasury Dept.
    Therefore he built no infrastructure with the personnel, and/or budgets, to monitor the expanded activities of the banks and insurance agencies covering loans.

    Then, with the help of Schumer and Dodd, tied the whole mess into the expanded CRA.
    http://en.wikipedia.org/wiki/Community_Reinvestment_Act
    Clinton's appointment of Franklin Raines at FannieMae added to the problem, as Raines was lying through his teeth every time he testified before Congress, and Barney Frank carried Raines' water with the financial committee EVERY SINGLE TIME.
    Even when Armando Falcon, Clinton and Bush's watchdog, was telling Congress that Fannie and Freddie were putting the entire financial system at risk.
    The Whistleblower They Ignored | The Nation

    From what I am reading here, you are the only one doing that JG.
     
    Norm0931 and (deleted member) like this.
  13. Scott

    Scott Battle Ground Well-Known Member

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    When is Obama going to accept responsibility and stop blaming Bush?

    Bush has been gone 4 years...... That does not fly anymore....

    Sent from my Desire HD using Tapatalk 2
     
  14. Jamie6.5

    Jamie6.5 Western OR Well-Known Member

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    Yeah right JG.
    The entire financial system was locked up, and there was absolutely zero liquidity anywhere in the banking system. We were on the brink of complete meltdown.
    Even I don't blame Congress for passing the TARP bill. And I believe Bush should have signed it. Things were a lot worse than the public ever knew.
     
  15. JGRuby

    JGRuby Portland Oregon New Member

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    In my opinion - we should have let it collapse. We simply postponed the inevitable. This led the way to the bail out of the major banking companies and we are paying for today. We cant have it both ways - bailout with out large sums of money being spent by the government that the government doesnt have. We have a big problem and simply signing a bill doesnt fix the problem.


    The fact is that this has GW's signature on it.


    James Ruby
     
  16. JGRuby

    JGRuby Portland Oregon New Member

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    Because Bush is gone does not mean the mess that he created is - ever notice it takes alot longer to clean up a mess than it does to create one.

    James Ruby
     
  17. Scott

    Scott Battle Ground Well-Known Member

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    Obama's mess is much and very much bigger. Plus it is getting bigger every day.....

    And don't say it isn't.......

    Sent from my Desire HD using Tapatalk 2
     
  18. Scott

    Scott Battle Ground Well-Known Member

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    Plus Reagon fixed Carters disaster in 4 years and Carters mess was just like Obamas......

    Obama used Carters playbook....

    Sent from my Desire HD using Tapatalk 2
     
  19. JGRuby

    JGRuby Portland Oregon New Member

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    SO how do we make Obama responsible for those things that he screwed up versus the things that were passed to him by GW? Or if Romney gets elected all problems he has are of his own making based on the fact he maybe prsident. Where is the line drawn?

    James Ruby
     
  20. JGRuby

    JGRuby Portland Oregon New Member

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    Bet no one blames all problems Romney has on his own actions, everyone then will be saying its because of Obama. Seems to me a double standard.

    James Ruby
     
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