But then-Treasury Secretary Henry Paulson quickly changed its main use, funneling much of the money into banks to stabilize their financial condition and give them capital to make loans. As the financial crisis eased and the economy has recovered, banks have scrambled to repay the money and get out from under tough executive compensation restrictions. The Treasury Department also has made money from mandated dividend payments and the sale of stock warrants the government received as part of the investment. Of $205 billion injected into banks, $137 billion has been repaid. In addition, the Treasury has received $23 billion in dividends, interest and other income. The repayments have helped dramatically reduce the projected TARP losses. In August, the Obama administration estimated losses of $341 billion. That figure was reduced last month to $105.4 billion. No additional TARP money can be spent after October, when the fund expires. Although the administration has been increasingly optimistic about the eventual losses from the TARP fund, the panel set up by Congress to oversee it has been critical of the taxpayer exposure. On Thursday, the Congressional Oversight Panel said taxpayers still "remain at risk for severe losses" from the bailout of insurance giant American International Group. Much of the $182 billion committed to AIG comes from the Federal Reserve, but Treasury committed $70 billion of TARP money to save the company from bankruptcy. As of May 31, AIG had received $48 billion of that money. Some TARP money will never come back. For example, the administration has committed $50 billion to provide cash incentives to banks to modify mortgages of homeowners in danger of foreclosure. ..... ..... TARP was created by Congress at the height of the financial crisis in 2008 and has been highly controversial from the start. Congress originally rejected the fund, which was proposed by the Bush administration to purchase toxic subprime mortgage securities from banks. It was approved after adding more conditions and congressional oversight.
Does this mention the TARP that was paid to the unions and to keep GM afloat?
I consider the sources and generally speculate between the lines of anything that is reported about this White House. All of it is a house of cards and cannot be sustained without inflation. The pathway they seem to be choosing is taking us down the yellow brick road. We can already see behind the curtain.
I know I have gotten out of the markets, and now I'm putting it into dirt. I just bought another 345 acres of almost heaven. I am now over 10,000, and have holdings in five states. I don't trust the stock market, but I've kept enough cash around to pay the taxes and keep the snow plowed.
I am not a conspiracy Guy, but with all the collusion apparent, I do see it following a downward spiral. The scariest part is what they're trying to do with energy and control of the entire economy. In West Virginia, with lots of coal and eager East Coast market for electricity, there are Chicago investors building windmills all over our mountains. Obama wants to kill the coal power industry. It's all just more of the Chicago way of business. The windmills would never be a good investment on a level playing field. The same goes with photovoltaics. The only efficient use of the sun's energy at this time is to make hot water for bathing and heating. It actually pays back your investment in a short time.
Have a nice day. Enjoy the Kool-Aid.