Biden-Harris Presidency Thread

tenor.gif
 

Nathan

Administrator
Staff member
Yes, the CEO of a bank that needed to be bailed out in 2008 should be advising the prez on relief packages.

He'd better suggest that each American gets 8 billion dollars.
While I won't pretend this isn't absurd, to be fair, JPMorgan repaid the entire bailout plus interest after the minimum time possible. Dimon has been recorded under oath explaining that the Fed asked him to take a bailout he didn't need in order to convince the banks that did need it to accept. JPMorgan put the money in an interest bearing account and left it there until it could be repaid.

 
While I won't pretend this isn't absurd, to be fair, JPMorgan repaid the entire bailout plus interest after the minimum time possible. Dimon has been recorded under oath explaining that the Fed asked him to take a bailout he didn't need in order to convince the banks that did need it to accept. JPMorgan put the money in an interest bearing account and left it there until it could be repaid.


I've never seen anybody corroborate his story about TARP funds but Chase was also indirectly bailed out by the AIG bailout which saved them and many other banks from circling the drain due to their credit default swap exposure.
 
I've never seen anybody corroborate his story about TARP funds but Chase was also indirectly bailed out by the AIG bailout which saved them and many other banks from circling the drain due to their credit default swap exposure.
TARP basically broke even:

The May 2015 report of the TARP to Congress stated that $427.1 billion had been disbursed, total proceeds by April 30, 2015 were $441.8 billion, exceeding disbursements by $14.1 billion, though this included $17.7 billion in non-TARP AIG shares. The report predicted a total net cash outflow of $37.7 billion (excluding non-TARP AIG shares), based on the assumption the TARP housing programs' (Hardest Hit Fund, Making Home Affordable and FHA refinancing) funds are fully taken up. Debt is still outstanding, some of which has been converted to common stock, from just under $125 million down to $7,000. Sums loaned to entities that have gone into, and in some cases emerged from bankruptcy or receivership are provided. Additional sums have been written off, for example Treasury's original investment of $854 million in Old GM.[40]
 
Top