[quote=Doooh]So is it illegal as I described the situation?
I’m ready to go to war over this, these are my tax dollars bailing out Bank of America, and this realtor is purposely digging the bank deeper into a hole by not accepting legit cash offers on the next business day after listing the property.[/quote]
This is just a nitpick. BofA paid back its TARP plus dividends (and warrant profits). Whether it (or any of the other banks) should have received TARP at all is another issue entirely. I despise BofA, but they’ve paid us back. That’s just a fact. And, in fact, I believe that the bank-specific TARP money has almost all been paid back at this point in an aggregate sense. That is, the losses have been more than offset by the dividends and warrant profits. There are still a few hundred banks with TARP but they are all so small that the aggregate number is a few billion dollars. You could write them down to zero and the banks will still show a net profit to the Treasury on TARP. Again, to be clear, I’m not saying that TARP was a good idea, merely pointing out that the banks will repay us on an aggregate basis (which is a slightly better outcome than I expected).
Now… where you can bitch and moan more legitimately is with respect to Fannie/Freddie. Because we’re bailing out those guys to the tune of hundreds of billions. And that’s real and in the here and now. Now, as I’ve explained many times, we’ll get our nominal dollars paid back from Fannie/Freddie… but it will be quite some time in the future – probably a decade.
