Wall Street Bailout Returns 8.2% Profit Beating Treasury Bonds
The U.S. government’s bailout of financial firms through the Troubled Asset Relief Program provided taxpayers with higher returns than they could have made buying 30-year Treasury bonds -- enough money to fund the Securities and Exchange Commission for the next two decades.How did this happen - conservatives and tea baggers claim they are honest people of good character and only tell the truth. Tea baggers and their conservative brethren have said Obam, Reid and Pelois are socialist and have wasted tax payer money. Gosh, that turns out to be a lie. Yet the media has decided not to report on the fact that President Obama, Senator Reid(D-NV) and Speaker Pelosi (D) saved this capitalist economy and made a profit for tax payers. From Obama, the Tax Cut Nobody Heard Of
The government has earned $25.2 billion on its investment of $309 billion in banks and insurance companies, an 8.2 percent return over two years, according to data compiled by Bloomberg. That beat U.S. Treasuries, high-yield savings accounts, money- market funds and certificates of deposit. Investing in the stock market or gold would have paid off better.
When the government first announced its intention to plow funds into the nation’s banks in October 2008 to resuscitate the financial system, many expected it to lose hundreds of billions of dollars. Two years later TARP’s bank and insurance investments have made money, and about two-thirds of the funds have been paid back. Yet Democrats are struggling to turn those gains into political capital, and the indirect costs of propping up banks could have longer-term consequences for the economy.
“From the perspective of the taxpayers getting their money back, TARP has been a great success,” said Todd Petzel, chief investment officer at New York-based Offit Capital Advisors LLC, which has more than $5 billion of assets under management.
What if a president cut Americans’ income taxes by $116 billion and nobody noticed?The tea baggers didn't notice because they are not as knowledgeable about politics, taxes and public policy as they and the media would have us believe. The tea baggers are willfully ignorant because it interferes with their sad shrill whining about problems they either do not exist or are a legacy of financial recklessness left by a Republican Congress and George Bush.
It is not a rhetorical question. At Pig Pickin’ and Politickin’, a barbecue-fed rally organized here last week by a Republican women’s club, a half-dozen guests were asked by a reporter what had happened to their taxes since President Obama took office.
“Federal and state have both gone up,” said Bob Paratore, 59, from nearby Charlotte, echoing the comments of others.
After further prodding — including a reminder that a provision of the stimulus bill had cut taxes for 95 percent of working families by changing withholding rates — Mr. Paratore’s memory was jogged.
“You’re right, you’re right,” he said. “I’ll be honest with you: it was so subtle that personally, I didn’t notice it.”
Few people apparently did.
In a troubling sign for Democrats as they head into the midterm elections, their signature tax cut of the past two years, which decreased income taxes by up to $400 a year for individuals and $800 for married couples, has gone largely unnoticed.
In a New York Times/CBS News Poll last month, fewer than one in 10 respondents knew that the Obama administration had lowered taxes for most Americans. Half of those polled said they thought that their taxes had stayed the same, a third thought that their taxes had gone up, and about a tenth said they did not know.
Are Republicans drinking something which makes them batsh*t insane? - Rep. Paul Broun (R-GA) Says That The Stimulus And Health Care Laws ‘Are Gonna Kill’ Elderly And Disabled Americans
The only things resembling death panels that do exist are the rescission and denial practices followed by private health insurers that the bill is slowly outlawing. A congressional investigation recently found that “the nation’s four largest for-profit health insurers denied coverage to more than 651,000 people over a three-year period, citing pre-existing conditions” — one out of every seven Americans who applied for insurance was denied. If anyone supports health care being denied to Americans, it is Broun, who has a long history of fearmongering about efforts to reform the American health care system.
