Forum Post: Media’s Wall Street Bailout Lies Debunked: TARP Hasn’t Been Repaid
Posted 11 years ago on May 1, 2012, 4:44 a.m. EST by GildasSapiens
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"The overseer of the Wall Street bailout fund debunks repeated media lies – The bailouts haven’t been repaid and they haven’t helped the average American.
When you live in a corporatist police state controlled by a mass media propaganda machine you come to expect nothing less than lie after lie in the media being used to keep the masses placated.
Once again, despite months of media reports that the “whine-fest” coming from Occupy Wall Street protestors and Tea Party members are much ado about nothing, the truth comes to rear its ugly face.
This time it is the government’s overseer in charge of the Tarp Program, AKA the ear trillion-dollar Wall Street Bailout fund, has come forward to dispel the lies told by the media.
Tarp Overseer Debunks Bailout Myths: Big Companies HAVEN’T Repaid Tarp Funds
…And Funds to Help Homeowners HAVEN’T Been Paid
Apologists for government bailouts push two main myths:
That all of the bailout funds have been repaid That the bailouts helped the average American But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths."
I should point out that the blog from the first post is citing GENUINE sources - see http://www.nytimes.com/2012/04/12/business/economy/treasury-department-faulted-in-effort-to-relieve-homeowners.html?_r=2 and http://www.sigtarp.gov/frate2abAt2a/tre9uPrUvAst.pdf for the two main ones. So this isn't some fringe theory.
Yeppers! That's right, they wrote themselves huge checks, sent investors a chunk and paid squat back! Troll that!
And what were the trolls saying about TARP being payed back plus interest?
"It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost)."
I thought so.