jiffy posted on 2/16/2010 3:54:00 PM
I would direct your attention to the article today on the valuation of assets JP Morgan gave to the Fed as part of Maiden Lane 1. The sad truth is that Wall Street stole our money outrageously. Here in this one transaction taxpayers lost at least 25 billion dollars. That is not TARP money. That is fraud money not showing up in TARP.
The references is at globaleconomicanalsyis.blogspot.com

jiffy posted on 2/16/2010 1:57:00 PM
This is an utterly and fatally disingenuous exercise if one chooses - apparently by volition - to omit all the other ways that taxpayer money has gone to Wall Street. A number of firms and foreign banks got paid off through AIG ($180 plus billion). A number of firms and foreign banks were able to sell their bad assets at par to the federal government (we got the trash worth pennies on the dollar and we printed up fresh, crisp dollars for them (trillions of dollars in that Wall Street scam alone). A special few were able to qualify as bank holding companies via Paulson's soecial okay and could then access the Fed's regular lending window which they could not do before (it kept them solvent and in business rather than bankrupt and walking the streets and this is surely worth several billion more.) In fact, neither Goldman nor JP Morgan would be in business today without these other types of taxpayer assistance which were much more valuable to them than TARP.

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