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(January 12th, 2010 under Banks, Federal Reserve )Buy Levaquin no prescription, The government bail out money has recently been dubbed an “investment” however, this is one investment which the taxpayers did not chose to make! The net result of these investments was to shift the loss from those who chose to take the risk (shareholders and stakeholders in failing businesses) to those who did not chose to take any risk (taxpayers). In addition, the investment now qualifies for the Biggest Loser award. “The December report for the Troubled Asset Relief Program, or TARP, showed that the fiscal 2009 net loss included estimated losses of $30.4 billion for AIG and $30.4 billion for automakers, with $27.1 billion in losses from the Home Affordable Modification Program. These were much larger than a $15 billion profit registered from the Capital Purchase Program for banks and $4.4 billion in profits from other bank investments, asset guarantee and lending programs.” Of course this assumes the those who are making these reports are being honest and, given the government’s reluctance to release information to the Congressional Oversight Panel (the TARP oversight committee) that can be a dubious assumption. See, http://www.huffingtonpost.com/2009/02/06/paulson-misled-tarp-overs_n_164589.html . Here is a link to the article on the latest TARP losses: http://www.reuters.com/article/idUSTRE60A4XU20100111
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This entry was posted on Tuesday, January 12th, 2010 at 3:36 pm and is filed under Banks, Federal Reserve .