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Troubled Assets Relief Program (TARP) was a flop or more likely a scam, more bailouts to follow.

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posted on Sep, 29 2009 @ 02:18 PM
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One year after TARP we are not better than the day the Markets fell last year,
Actually we are now Trillions of dollars shorter, the deficit bigger and growing and we are a nation of jobless people.

What happen?

Neil Barofsky, the special inspector general for TARP, is now coming to the realization that the TARP didn't accomplish anting,

Well I thought we knew that here in ATS, one year before, didn't we, The big lie about Paulson claiming that the TARP was to make Banks lending again to people was a lie.

Actually Banks has been reaping profits on the demise of their custumers with higher fees and charges.

Then nobody knows where the money went, Even Barosky is trying to find where it all went, The treasury Secretary can not tell where the money went either.

That is so comforting for us the tax payer in the nation.

Obamas policies toward the banks are exacerbating the problems as the Banks now to big to fail will required bigger bailouts to keep going.

The government forgot that we are a nation of spenders and that is how our economy was kept going, now not money, no jobs and not loans and credit, no wonder we are now stagnat.

As the last stimulus wear off so the government has to find ways to stimulate the economy once more.

www.economyincrisis.org...


More bailouts for financial institutions


The Obama administration is close to rolling out two initiatives aimed at addressing lingering problems from the financial crisis: A long-delayed effort to cleanse financial firms of their toxic assets, and a $35 billion plan to prop up state programs that help lower-income borrowers get affordable mortgages.

Announcements on both fronts could be made as early as Wednesday.

The toxic asset program is launching nearly a year after Congress approved the $700 billion financial rescue legislation that bore the name Troubled Assets Relief Program. The initiative was once envisioned as the signature program in the government's rescue of the banking system, but financial firms grew wary of the strings attached, and it was subsequently scaled back as the crisis abated.


Don't you love how our tax payer is working for us.

www.washingtonpost.com...




posted on Sep, 29 2009 @ 04:04 PM
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reply to post by marg6043
 


Well, at least they didn't start another war to cover the financial problems up.

Oops!!



posted on Sep, 29 2009 @ 04:26 PM
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reply to post by marg6043


 
hello there marg6043,
you are certainly right that a lot of the nation and a solid 90% of us here on ATS saw & voiced grave concerns about the TARP being shoved down the taxpayers throats...

i'd point out something from your post;



... The Obama administration is close to rolling out two initiatives aimed at addressing lingering problems from the financial crisis:
A long-delayed effort to cleanse financial firms of their toxic assets, ...


the reason the Fed or Treas or Congress (FTC) is delaying the needed 'strict' regulation of these funny money/toxic assets is because they have an agenda to allow the financial institutions tremendous 'leverage' to build up their operating war chests (assets)

& thus reap either 'campaign contributions' or 'gratuities' or 'networking partnerships' as the case may be... with the members of the three cited entities (an abominable FTC)
~



posted on Sep, 29 2009 @ 04:45 PM
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reply to post by St Udio
 


Yes you are right the are now to create the biggest monster for the banking cartel that will ensure that the other abominable monster call the fed will partner up with the treasury to make a revolving debt of tax payer dollars to keep the banking secure while providing loans to the treasury to keep the FDIC providing payments when the banks fail.


So confusing that it makes your head spin.


The fed will loan to the banks that in return will loan to the treasury to keep the FDIC funded enough to keep the merry go around going, but when the funds gets too low there comes the tax payer to bail them both again.

What a freaking scam and the dirtiest appropriation of tax payer money so the too big to fail keeps their filthy wealth intact.

Despicable, still many Americans have no clue what all this means to our pockets.

Also The Obama administration will make possible for the Banks to finish cleaning their books with the help of tax payer and private investments.

In other words they will be able to create another bubble as long as is tax payer and stupid investors to take their dirty toxic assets.


According to The Post, the Obama administration wants to relieve banks of those toxic assets through a combination of public and private investment.

The Treasury Department has been working behind the scenes with private firms to set up investment funds to buy the toxic assets. The funds would be a combination of public and private money. The private firms would then have the opportunity to buy the assets at a very low price in hopes that they turn a profit down the road.

The Treasury Department will initially contribute $2.5 billion in matching contributions to the fund. The private firms entering the fund would then be allowed to borrow another $5 billion in the form of leverage, The Post reports.

The program could grow to as large as $40 billion, according to The Post.

That, however, may not be nearly enough to solve the problem. According to the TARP Congressional Oversight Panel, there is $657 billion worth of toxic assets circulating in the financial markets currently.


www.economyincrisis.org...

So sad to see how our government is turning their back on the tax payer to preserve the wealth of the few in the nation at the expenses of the future of our unborn children.

So despicable that people have not clue what all this means.


[edit on 29-9-2009 by marg6043]



posted on Oct, 1 2009 @ 09:33 PM
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Excellent thread Marg!


It deserves more attention, you broke it down in plain English and put it all right there on one page. It's not looking good, not only for future generations but for ours too.

Edit to add star and flag


[edit on 1-10-2009 by Sundancer]



posted on Oct, 1 2009 @ 09:43 PM
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Hey Marg,

Remember when Paulsen went before the senate financial committee last year to sell TARP? He pretty much said, just leave it to me. You guys (Congress) can't put any restrictions on what we do! We've to have full control (him and Bernanke) over this or the whole banking system will collapse!

Well he didn't get it of course but I remember thinking how brazen he was to just expect complete control over billions of taxpayer $$$$$ to go to him alone. Yup, him and Goldman Sachs!

I_R




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