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|Subject: Re: UK, NL, AUS ban mutual fund commissions||Date: 6/25/2013 9:21 AM|
|Author: PosFCF||Number: 72509 of 77407|
Actually, the US government made a profit on the TARP money that it provided to banks. It disbursed $245.1 Billion, is still owed $6.1 Billion, and received back $270.9 Billion. Even if none of the $6.1 Billion the US government is still owed by banks is paid back, that's still a net profit of $19.7 Billion.
Well, according to how I read the chart at the link you provided, the total amount lent was $456.6 and the total amount paid back was 417.2 leaving a shortfall on TARP of the difference.
Secondly, TARP wasn't the only program.
Thirdly, in order for Bear Sterns (and possibly Lehman) to be resolved, the Federal Government had to take over their wagers gone awry as well.
Next, I see there no accounting for how much support we rendered to overseas banking entities.
Then pressure was put on the FASB to retract the rule requiring banks to mark their assets to market, without which repeal all of the biggest would have been visibly as insolvent as, in reality, they actually were.
Finally over the last 6 years the banks have borrowed at the Fed window at .25% and lent it right back to the Government at up to 2%. Some may not call that a bailout but if it looks like a duck....
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