3 ms·

So over 25 years the poor got the same amount wealthy bankers got in 2008? https://theweek.com/articles/479867/federal-reserves-breathtaking-77-trillion-bank-b

• gruez 4y ago
  The dollar amounts aren't really comparable considering that anti-poverty spending is a handout whereas the bailout under TARP was in exchange for assets. >The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector [...] >Through the Treasury, the US Government actually booked $15.3 billion in profit, as it earned $441.7 billion on the $426.4 billion invested https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program https://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program
  • InitialLastName 4y ago
    In exchange for essentially worthless assets, no? Turning $426B in 2009 into $445B in 2014 comes out to an 0.76% ROI, so not exactly a good deal for anyone but the shareholders who didn't lose their shirts.
    • gruez 4y ago
      > In exchange for essentially worthless assets, no? Clearly not, considering they were able to sell it for a profit later. >Turning $426B in 2009 into $445B in 2014 comes out to an 0.76% ROI, so not exactly a good deal for anyone but the shareholders who didn't lose their shirts. I'm not claiming that it's a $0 bailout either. I'm only pointing out that $1 spent on anti‐poverty programs isn't comparable to $1 of TARP spending, so trying to directly compare the two like the parent poster was doing is misleading.