Uh Oh...you thought TARP was a big deal?

[Ron B]

Seems that the $700 billion TARP money was a drop in the bucket compared to the money no one seemed to know was being funneled to Wall Street...just last week it came out that the number was actually 11 times that! And the biggest amount doled out was $1.2 trillion on December 5th, 2008 (the same day that President Bush announced that we were in a recession). The banks made $13 billion off the uber-low interest rate of .001%. Sweet.

http://www.bloomberg.com/news/2011-...congress-gave-banks-13-billion-in-income.html

http://www.dailymail.co.uk/news/art...ON-bailout-given-banks.html?ito=feeds-newsxml

a funny video on the discovery of the $7.7 trillion loan:
http://www.thedailyshow.com/watch/thu-december-1-2011/america-s-next-tarp-model?xrs=share_copy

 

[3Hummers]

I read about that a few weeks ago and posted in one of the other threads about this. No one really knows how much money the Fed doled out/printed/guaranteed. At this point I guess it really doesn't matter since we can't pay it back whatever the number is.

 

[HUMMER INVESTMENTS]

:agree: I think we are 15,000,000,000,000+ in the hole:roll:

 

[Ron B]

I read about that a few weeks ago and posted in one of the other threads about this. No one really knows how much money the Fed doled out/printed/guaranteed. At this point I guess it really doesn't matter since we can't pay it back whatever the number is.

I re-read the Iceland thread and saw your mention of it a few days ago, I forgot about that...didn't sink in until the next day until I read more about it. Seeing the daily show blurb made me laugh...then barf. TARP just pissed me off...this makes me want to hang with John Pike and get pepper sprayed then finish myself off by watching an episode of Glee

 

[3Hummers]

15T is the acknowledged debt of the US. The unfunded liabilities are now along the lines of 150T with the addition of Obamacare. No one knows what debt the Fed has created for us since apparently we have no right to know. All you really need to know is that we are beyond broke and can never pay our obligations.