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Bank of America to repay TARP money

Discussion in 'Political Debate & Discussion' started by matt wade, Dec 4, 2009.

  1. matt wade

    matt wade Well-Known Member

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  2. billwald

    billwald New Member

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    Say the banks all pay back $3 Trillion. How much money have they made off the money so far?
     
  3. Gold Dragon

    Gold Dragon Active Member

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    Apparently 50 companies have paid back some of their TARP funds totalling $72 billion as of the end of October.

    NASDAQ News: Geithner: Expect $175 Billion In TARP Repayments By End Of 2010
     
  4. Magnetic Poles

    Magnetic Poles New Member

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    The thing with BofA is that they are having a hard time finding a new CEO to replace Ken Lewis who will work under the rules TARP puts on them.
     
  5. carpro

    carpro Well-Known Member

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    Exactly.

    No one will take the job with the government salary restrictions.
     
  6. Revmitchell

    Revmitchell Well-Known Member

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    So where did they get the money to repay these loans? They have not been lending money to the public.The way I understand it the Fed reserve has bought some of their assets and now they will use that to pay back the loans.....to the Fed reserve. This certainly is not over and this is not the loans paid in full yet.
     
    #6 Revmitchell, Dec 5, 2009
    Last edited by a moderator: Dec 5, 2009
  7. Revmitchell

    Revmitchell Well-Known Member

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    Little to nothing. They are not lending much money they cannot be making much.
     
  8. Robert Snow

    Robert Snow New Member

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    How much is their salary under these new rules?
     
  9. Aaron

    Aaron Member

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    They never were to lend the money. They had to keep the money to stay solvent. I would guess that through the sale of some assets they can now remain solvent without the TARP money. So they're giving it back.
     
  10. Magnetic Poles

    Magnetic Poles New Member

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    It looks like it isn't all cash that we are getting back. $26B in cash, $19B in securities. I'd rather see it all in cash.

    CLICK HERE
     
  11. matt wade

    matt wade Well-Known Member

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    They are using 26B in cash they have on hand and coming up with the other 19B by selling securities to private investors. They aren't reimbursing the tax payers with securities.
     
  12. billwald

    billwald New Member

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    >>Say the banks all pay back $3 Trillion. How much money have they made off the money so far?

    >Little to nothing. They are not lending much money they cannot be making much.

    They kept it on the books as cash? Some say <G> that the money was used to play the commodities market.
     
  13. Aaron

    Aaron Member

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    We?

    So, do you think the government will amend TARP by $45 billion?
     
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