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Willisms

« Social Security Reform Thursday: Part 78 -- Eating Social Security's Seed Corn. | WILLisms.com | Trivia Tidbit of the Day: Part 539 -- The Obama Stock Market. »

Trivia Tidbit of the Day: Part 538 -- Wasted TARP Money.

TARP Money = Down The Drain-

When the TARP (bailout) program was sold to America last year, we were told that-- technically speaking-- the money is really just more of a really big loan, and that taxpayers would probably make money over the long haul from the whole deal. Notwithstanding the terrifying implications of state ownership of so many assets, let's look at how the TARP "investment" is doing for taxpayers:

tarpdown.gif
For the week ended February 13, 2009, the aggregate Ethisphere TARP Index is down $86.5 billion, out of the original investment principal of $195.5 billion, for a total balance of $109 billion. However, the Adjusted Ethisphere TARP Index, which excludes the calamity investments, has an aggregate loss of $27.6 billion as of the week ended February 13, 2009, bringing the original investment principal down to $68 billion.

Now, in fairness, not many investments are doing terrifically right now. But these bailouts were supposed to turn our economy around. Instead, they seem to have created more uncertainty, more insolvency, more doubt, and more generally negative psychology about the economy. And that's leaving out many of the long-term consequences.

-------------------------------------

Previous Trivia Tidbit: Military Spending.

Posted by Will Franklin · 20 February 2009 09:49 AM

Comments

We the People were sold a line of Socialist Baloney. GW Bush swallowed it hook line and sinker along with the rest of US. The so called economic "Experts" were Screaming The Sky Is Falling... AND we trusted them. Instead of allowing the Free Market to work properly we trusted the Socialist Ideologies that have been seeping into our country since the Great Depression. We now have a Socialist POTUS who Screamed out WE HAVE TO HURRY AND GET THIS PASSED!!! IMO. Obama knows his time is short and he Must hurry and get his Socialist agenda through and the MORE the Merrier in Obamas eyes. Instead of having a few years of uncertainty for many banks and businesses we are going to see our Country Change forever as a weak Nation. The USA will no longer be the Great leading Nation of the World. People will not look at US the same again until we ABOLISH Socialism. Hopelessness and Change is what we are now experiencing. Very sad. Socialism thrives on Hopelessness.

Posted by: ZsaZsa at February 20, 2009 10:46 AM