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Bank of America Corporation Message Board

  • redhotprawns redhotprawns Apr 4, 2010 6:55 PM Flag

    The tarp money that was paid back, where is it?

    In the coffers of the democraps party? Obamie is funding friends with it? We need a proper accounting.

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    • i think a better question would be, where did all that sub prime lending monies go to???-bucko

      • 1 Reply to buckobrennan
      • Jamie Dimon, Stan O'Neal, Dick Fuld, John Thain...... (need I go on?)

        We were taken to the cleaners again; another Enron scandal; this time it was financial crooks. Same game, same results with the exception that I don't believe anyone has gone to jail this time, but the money hasn't been retrieved and won't be..... that's the fault of all our elected officials for not closing down loop-holes in corporate governance.
        Just as another example, Meg Whitman is running for governor in CA; surprise, surprise she has a foundation based in the Carribean (Cayman Islands I believe). How convenient.......

    • One has to wonder where you get these screwy ideas.

      "Proceeds are deposited into the Treasury general fund for reduction of the public debt. Upon each such repayment and sale, the total amount of troubled assets that are held by Treasury and count against the $700 million statutory cap is reduced because such troubled assets are no longer 'outstanding.' "


      http://public.shns.com/content/net-worth-what-happens-tarp-repayments-banks

      • 2 Replies to sailfyc
      • Gee I wonder where anyone could get those screwy ideas... your pulled quote was from around the 15th paragraph of the article... whereas the 2nd paragraph says...
        "President Barack Obama and some Democrats say unused TARP money can be used for all sorts of things."

        Then there is the third paragraph...
        "The House narrowly passed the Jobs for Main Street Act of 2010, an amendment to HR2847. House Speaker Nancy Pelosi says the bill would "redirect" $75 billion in TARP funds to pay for highways, transit and other infrastructure; to hire or retain teachers, police and firefighters; and to subsidize loans to small businesses."

        Of course you are correct as "Section 106 of the TARP act says that 'revenues of, and proceeds from the sale of troubled assets purchased under this act, or from the sale, exercise, or surrender of warrants or senior debt instruments acquired under section 113 shall be paid into the general fund of the Treasury for reduction of the public debt.'"

        Apparently Obama's Treasury Department would beg to differ with you though because apparently they don't think this applies to money paid back.

        "But the Treasury department says that section pertains only to earnings from warrants, interest, fees and dividends, not to repayments."

        This article alone, fully justifies asking for a complete accounting of TARP money. One has to wonder where the author got those screwy ideas...

      • the Treasury is broke. As soon as it gets any it goes to Rothchild's Fed applied to principal or paying interest on the debt. It's the Treasury borrowing from Rothchild, not Rothchild borrowing from the Treasury. And Guess who's taken the US Gold ?

        all the more ABSOLUTE NECESSITY to AUDIT THE FED by the GAO , afterwhich Disbandon Rothchild's Goy Machine, THE FEDERAL RESERVE -- and make sure they're not bribed or threatened by Rothchild, INC

 
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