2016 Postmortem

basselope

(2,565 posts)

96. It's not a lie at all. You just need math.

Tue Mar 8, 2016, 12:03 PM

Mar 2016

Total profit on the TARP deal was calculated at 15B over 6 years. (here is the woohoo article on it) http://money.cnn.com/2014/12/19/news/companies/government-bailouts-end/

That is a .6% return on the 700B.

Current interest rates on the national debt are 2.43%

So TARP COST US 17B per year in interest costs * 6 years = 102B

102B in interest costs vs a 15B investment gain = 87 Billion dollar loss.

What you should be ashamed of is trying sell Tarp as a success. It was a HUGE LOSS to the working class and the tax payers and the very worst way to solve a problem they created.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

123 replies

= new reply since forum marked as read

Highlight:

Did Sanders vote for or against the bill that became law which bailed out the auto industry? [View all] boston bean Mar 2016 OP

Yes, he voted against the final bill Nonhlanhla Mar 2016 #1

Exactly. Lucinda Mar 2016 #8

His voting record is better than Clinton's. Vattel Mar 2016 #30

We'll see today if those who depend on the auto industry agree. nt stevenleser Mar 2016 #42

Many don't vote on record. Vattel Mar 2016 #122

The TARP bill bailed out the corrupt too big to fail banks that should have been prosecuted think Mar 2016 #32

The economy was in free fall Nonhlanhla Mar 2016 #35

And why was the economy in free fall -- Support of bad policies for 30 years Armstead Mar 2016 #63

True Nonhlanhla Mar 2016 #75

The 2008 auto bill failed because most Democrats failed to compromise Armstead Mar 2016 #83

If the banks failed there would have been grave consequences for all. Thinkingabout Mar 2016 #89

Exactly Nonhlanhla Mar 2016 #101

So, Hillary voted for Bush Banker Bailout. earthside Mar 2016 #88

You can certainly argue that the banksters should have been prosecuted. Adrahil Mar 2016 #113

No one is saying nothing should have been done including Bernie. What was done was wrong. think Mar 2016 #119

Perhaps if more Democrats has similar principles we'd all be in a lot better shape Armstead Mar 2016 #60

Right, Hillary is seldom afforded the nuance Sanders is given YCHDT Mar 2016 #61

in spite of the deficiences of TARP, it prevented a complete economic collapse, still_one Mar 2016 #85

Yes it did, something which did not happen because of TARP. Thinkingabout Mar 2016 #90

Also, TARP, however distasteful was NECESSARY. NT Adrahil Mar 2016 #112

rec riversedge Mar 2016 #2

Yep. Lucinda Mar 2016 #3

hey-o Lucinda! boston bean Mar 2016 #6

Alloo! Lucinda Mar 2016 #10

Very good, Lucinda! boston bean Mar 2016 #18

Less good. But we are hanging in! Lucinda Mar 2016 #20

I shall hope for more good! boston bean Mar 2016 #23

He did both. Yuugal Mar 2016 #4

Yes then no JustAnotherGen Mar 2016 #5

This is pretty clearly the most accurate answer. Recursion Mar 2016 #40

he voted for it Enrique Mar 2016 #7

He did not vote for the money that was actually used in the auto bailout Nonhlanhla Mar 2016 #11

the OP asked for a yes/no answer Enrique Mar 2016 #13

You answered incorrectly then. boston bean Mar 2016 #15

If it comes down to a yes/no answer, then the answer is no Nonhlanhla Mar 2016 #16

It's a shame TARP is as vilified as it is; it was a very successful program Recursion Mar 2016 #9

It disappoints me too Nonhlanhla Mar 2016 #14

Tarp bailed out criminal banks that screwed this country over. Iceland got it right. think Mar 2016 #33

Yeah, and it did so very intelligently, and made the government money Recursion Mar 2016 #39

Bullshit. think Mar 2016 #41

Well, no Recursion Mar 2016 #44

The big banks screwed this country and got rewarded for it instead of prosecuted think Mar 2016 #45

They paid back more than they received Recursion Mar 2016 #46

You didn't get screwed so it was a success. Got it. For the millions that did get screwed. Not so think Mar 2016 #49

successful? beedle Mar 2016 #118

Message auto-removed Name removed Mar 2016 #47

IT LOST MONEY! basselope Mar 2016 #121

TOUBLED asset relief program My Good Babushka Mar 2016 #78

"TROUBLED", incidentally Recursion Mar 2016 #79

Yes, congratulations to the U.S. My Good Babushka Mar 2016 #86

You might look at Europe first Recursion Mar 2016 #87

Mortgage backed debt originated in U.S. market. My Good Babushka Mar 2016 #93

That's just flatly untrue Recursion Mar 2016 #95

You are really in denial on this issue, aren't you? basselope Mar 2016 #97

Are you suggesting that it's Europe's fault My Good Babushka Mar 2016 #99

Successful for who exactly? basselope Mar 2016 #91

That's a damn lie Recursion Mar 2016 #92

It's not a lie at all. You just need math. basselope Mar 2016 #96

So you're actually running with "it didn't make the government enough money"? Recursion Mar 2016 #98

It LOST MONEY in ANY financial analysis. basselope Mar 2016 #104

No, it absolutely did not Recursion Mar 2016 #106

Only if it is above the risk free rate. Which it was not. JonLeibowitz Mar 2016 #108

No, it's not, when you paid more for the money. basselope Mar 2016 #120

Did Hillary lie and say Bernie was against the auto bailout? Broward Mar 2016 #12

No, because it is true he voted against it during its final passage. boston bean Mar 2016 #17

You are supporting a liar. Broward Mar 2016 #19

. stonecutter357 Mar 2016 #26

Bernie did not put his money where his mouth is. Nonhlanhla Mar 2016 #21

She truly is a shining example. Broward Mar 2016 #22

. stonecutter357 Mar 2016 #27

re: not being "sufficiently in favor of the auto bailout to vote for the actual money that saved it" thesquanderer Mar 2016 #73

re: "The second underlined statement is true in every sense of the word. " thesquanderer Mar 2016 #123

Was that the right vote? snowy owl Mar 2016 #24

He voted against it, stonecutter357 Mar 2016 #25

This issue is actually the perfect encapsulation of Bernie's campaign auntpurl Mar 2016 #28

I agree. boston bean Mar 2016 #29

+100 bigtree Mar 2016 #31

Of course you are pretending that Hillary questioned giving the Banks TARP money el_bryanto Mar 2016 #34

Tarp was very unpopular in January Demsrule86 Mar 2016 #59

And it also turned out to be very profitable for the US government. auntpurl Mar 2016 #65

What courage? Clinton knew that by doing that she might have some people upset with her el_bryanto Mar 2016 #66

I agree, it's immature to expect that all answers are going to be black or white YCHDT Mar 2016 #64

Business as usual has served us so well Armstead Mar 2016 #68

Hillary is for progress auntpurl Mar 2016 #74

About compromise... thesquanderer Mar 2016 #71

Refresh my memory. Is this the bill to address the Bush Crash that came about as a result of Bluenorthwest Mar 2016 #36

I wonder if we would have had those wars Nonhlanhla Mar 2016 #76

This is what being "inflexible" gets you ... NurseJackie Mar 2016 #37

Good thing we had all those Democrats to enable Iraq. Kall Mar 2016 #110

Yes he did, Hillary was correct. Alfresco Mar 2016 #38

Did Hillary vote to bailout the bankers that now support her with our tax dollars? Live and Learn Mar 2016 #43

Cut it out! Kittycat Mar 2016 #50

This is a good example of why Bernie's inflexible rigid approach to politics.. DCBob Mar 2016 #48

It would work if more Democrats were more inflexible for the right reasons Armstead Mar 2016 #70

Here is the Senate Roll Call fredamae Mar 2016 #51

Both! Demsrule86 Mar 2016 #52

re "we would have lost the entire auto industry had he had his way" thesquanderer Mar 2016 #72

Against. Buzz Clik Mar 2016 #53

Swiftboating CdnExtraNational Mar 2016 #54

and?????????? boston bean Mar 2016 #56

This kind of nonsense has no place on a 'Democratic' site yourpaljoey Mar 2016 #55

TARP Vote 10-1-2008 fredamae Mar 2016 #57

The truth hurts. Bernie was for it before he voted against it redstateblues Mar 2016 #58

"He was for it before he was against it" Freddie Stubbs Mar 2016 #62

He stole from John Kerry MSMITH33156 Mar 2016 #67

He was for it...until it was tied to a disgusting Wall Street giveaway. Lizzie Poppet Mar 2016 #69

And if you think that's an honest representation of events... gcomeau Mar 2016 #77

He voted for it before he voted against it. (nt) Skinner Mar 2016 #80

Really? Expand on that if you have more details. Nt Logical Mar 2016 #82

More made up stuff from boston bean, making hillary look worse! Nt Logical Mar 2016 #81

And how is that "auto industry" doing in Michigan? dchill Mar 2016 #84

Reasonably well Onlooker Mar 2016 #94

You're citing newsmax and a story about... dchill Mar 2016 #100

GLAD to see cnn clarify this also (bernie did NOT vote for final version of bill because he was riversedge Mar 2016 #102

It's a case of throwing the baby out with the bathwater. procon Mar 2016 #103

Hogwash CdnExtraNational Mar 2016 #105

So did the American workers. procon Mar 2016 #109

And how would Sanders have fixed that? Answer: he couldn't. He was backed into a corner. randome Mar 2016 #111

Add an amendment to break up the banks that had already proved they were too big to fail! CdnExtraNational Mar 2016 #114

More mischaracterization. If you really want the truth read below. If not, enjoy distortion. EndElectoral Mar 2016 #107

Did Hillary vote for or against the IRAQ WAR? B Calm Mar 2016 #115

Did Hillary vote FOR the bill beedle Mar 2016 #116

This message was self-deleted by its author ljm2002 Mar 2016 #117