TARP breaks even

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Ragorn
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TARP breaks even

Postby Ragorn » Sun Feb 06, 2011 6:32 am

Remember TARP, that government blunder that was going to cost our children their pensions? Yeah well, it's paid back. It's profit from here on out.

http://www.cleveland.com/business/index ... fth_t.html
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Teflor Lyorian
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Re: TARP breaks even

Postby Teflor Lyorian » Sun Feb 06, 2011 5:29 pm

So was Enron and Bernie Madoff. The government, red or blue, has every reason to hide the true cost to the American people.
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Corth
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Re: TARP breaks even

Postby Corth » Mon Feb 07, 2011 5:32 am

They retreived their money from TARP yet managed to commit enormous long term damage to the country by saving poorly run institutions at the expense of well run institutions.

They got smart at some point and realized there was no more political appetite for bailouts so they started doing them stealthily. For instance, having the Federal Reserve print money and buy up all the toxic debt off the bank's books at it's nominal value. It hasn't been marked down yet due to accounting shenanigans so on the books it looks like a wash. Oh, and lending money to banks at below market rates so that the banks are guaranteed a profit. Sure there is no giveaway there. And yet, either through inflation or opportunity cost the taxpayer gets fucked.

The fallacy of the government's approach to the financial crisis will be demonstrated through at least one and perhaps two 'lost decades' similar to that of Japan. We will have 9+ percent inflation 10 years from now, and probably longer. That and I give it about a year before we hit that fabled 'double dip' recession - and if you thought the last one was a doozy..
Having said all that, the situation has been handled, so this thread is pretty much at an end. -Kossuth

Goddamned slippery mage.
Teflor Lyorian
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Re: TARP breaks even

Postby Teflor Lyorian » Fri Feb 11, 2011 4:27 am

I actually have some doubts about the whole saving badly run organizations thing.

Just because a casino loses money for a few nights does't mean it's poorly run.
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Corth
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Re: TARP breaks even

Postby Corth » Fri Feb 11, 2011 5:41 am

So you think the banks just had a couple of bad days, huh?
Having said all that, the situation has been handled, so this thread is pretty much at an end. -Kossuth



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Teflor Lyorian
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Re: TARP breaks even

Postby Teflor Lyorian » Fri Feb 11, 2011 4:36 pm

Corth wrote:So you think the banks just had a couple of bad days, huh?

Realistically, Corth, even if the organizations died, the same rats would climb on top of new piles.
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Corth
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Re: TARP breaks even

Postby Corth » Fri Feb 11, 2011 6:19 pm

Disagree.
Having said all that, the situation has been handled, so this thread is pretty much at an end. -Kossuth



Goddamned slippery mage.
kiryan
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Re: TARP breaks even

Postby kiryan » Fri Feb 11, 2011 7:53 pm

Hmm.. I'm of a similar mind to Teflor. Most of the same rats would end up on top of new piles.

Once you get to a certain level... you can do no wrong. Look at HP's CEO and that female "event planner". He was basically overpaying her to be his personal escort. Got fired for that and circumventing the board and then Oracle created a position just for him and hired him just because he's "great".

ever heard of "failing upwards"? Yea managers who screw up continually promoted to higher positions.
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Re: TARP breaks even

Postby Corth » Sat Feb 12, 2011 1:17 am

How much demand is there these days for former AIG execs?
Having said all that, the situation has been handled, so this thread is pretty much at an end. -Kossuth



Goddamned slippery mage.
Sarvis
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Re: TARP breaks even

Postby Sarvis » Sat Feb 12, 2011 4:35 pm

kiryan wrote:Hmm.. I'm of a similar mind to Teflor.


AKA Independent Thought. :P

Most of the same rats would end up on top of new piles.

Once you get to a certain level... you can do no wrong. Look at HP's CEO and that female "event planner". He was basically overpaying her to be his personal escort. Got fired for that and circumventing the board and then Oracle created a position just for him and hired him just because he's "great".

ever heard of "failing upwards"? Yea managers who screw up continually promoted to higher positions.


Aren't you the guys who think anyone who's rich earned it somehow? Doesn't this kind of fly in the face of that?
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Teflor Lyorian
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Re: TARP breaks even

Postby Teflor Lyorian » Sat Feb 12, 2011 7:54 pm

Corth wrote:Disagree.

While I can think of any number of disgraced execs, including AIG execs that climbed upon new rat piles, I will concede that you probably know better than I on this as I don't really follow how well disgraced top management do.

However, there are a significant number that do.
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If you don’t wanna join him, you got to beat him."
- Kris Kristofferson (To Beat the Devil)
kiryan
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Re: TARP breaks even

Postby kiryan » Mon Feb 14, 2011 4:45 pm

Corth wrote:How much demand is there these days for former AIG execs?


Give it a few years... realize these guys are very intelligent people with tremendous amounts of ambition, knowledge experience and connections. They may now be shunned by their connections (for now), but they still have the remaining positives... including the unique experience of being in the middle of a financial crisis and seeing how everything comes together to "rescue" it.

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