Three things to point out:
TARP was a $700B program, they loaned out $413.4B and they were repaid $318B. By my math, that’s $95.3B short; not the $132 mentioned previously. Is the remaining $36.7 tied up with AIG aka stock?
Notice how the article or inspector general never mentioned Fannie and Freddie.
I wouldn’t call helping homeowners refinance or reducing mortgage payments a bailout. If the government wants to spend $51B doing that, then don’t saddle that on TARP or any other bank bailout – it’s a government charity move that is independent of the banks.
An important fact the author fails to mention; Ally is/was GMAC.
“…and some of that will never be recovered.” How about growing some cajones & go after them?
Three things to point out:
TARP was a $700B program, they loaned out $413.4B and they were repaid $318B. By my math, that’s $95.3B short; not the $132 mentioned previously. Is the remaining $36.7 tied up with AIG aka stock?
Notice how the article or inspector general never mentioned Fannie and Freddie.
I wouldn’t call helping homeowners refinance or reducing mortgage payments a bailout. If the government wants to spend $51B doing that, then don’t saddle that on TARP or any other bank bailout – it’s a government charity move that is independent of the banks.