I read that “•The Myth About TARP’s $15 Billion Profit”. The one thing that bothers me about the line that “the taxpayers” have been paid back is although the companies that benefited payed the gov’t back how much of that just went into a slush fund that has been spent on all sorts of gov’t wet dreams but the taxpayer is still on the hook for the funds.
I would be proper to separate Paulson/Bernanke/Geithner TARP from Pelosi/Reid/Frank TARP... The former has all been paid back by the banks. The latter was the porked up politician version.
We're only talking here about TARP, not what happened after.
What we know about TARP is that not only was all TARP money paid back but in addition $15 billion was also paid by the companies to the federal treasury. The writer wants to complain about the evil capitalist bankers whom we all want to hate and kill and how they bilked the poor poor government that we all love and adore. So the writer lies and says in the title that the $15 billion paid by the capitalist exploiters was just a myth and never really happened. Then he admits that the $15 billion profit actually did get paid but it wasn't enough so being not enough means it was a myth.
Bottom line here, TARP got all paid back, it cut a $15B profit, the writer is a lying Marxist.