First… again – for the second or third time – previously I was discussing bank preferred TARP money. But you know this.
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Everything I’ve read points me to the conclusion that the government does not even want to make money on TARP. The government paid 10x more than Buffett and the government is forgoing dividends for five years:
Do you have some evidence that the government even wants to make money on TARP other than the BS that has come out of the mouths of Paulson and Geithner?
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Second… again… I realize that you’re a stereotypically short-sighted and impatient American – and thus part of The Problem – but it would be nice to wait until perhaps the latter innings of the game to start discussing how things are progressing.
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It’s not so much that I’m impatient, it’s just that, unlike Mulder, I don’t believe. Most everything the George W. Obama administration has done is shady. They use AIG-FP to secretly bail out the banks. There’s no transparency. Hardly anyone that caused this debacle has lost their jobs (and many of them should probably be in prison). Summers is practically on the big banks’ payrolls. And it just goes on and on like that. Every day some macro-blog publishes an article about another shady thing either the Obama administration has done or the Bush administration did when they were in power.
WTF is an average guy like myself supposed to believe? Yes, you and Alan have superior knowledge of finance and accounting as compared to me. But, I and everyone else are certainly capable of understanding the broad concepts. Too many bad loans were made and the people who made them are getting rewarded for their stupidity and/or criminal behavior. How is rewarding crooks and idiots going to fix the problem?
