Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
That's fact.

"Facts" without context are meaningless.

I certainly do not recall Giethner leading the bail-out of GM and Chrysler. Seemed more like he was drug along kicking and screeming. Giethner did not appoint Warren and I have seen little evidence that he supports her efforts, though I would be pleased to be wrong.

The terms on which WS "repaid" TARP and bought back options were about the minimum that would not be seen as outright gifts and the revenue to make those payments came largely from WS arbitrage of the difference between the Fed cost of funds and what they could get in the market. I.E. the public gave them free money for them to lend at interest. Oh, and they understood how much and how long these funds, including QE I and QE 2 would last and were able to "invest" them in markets, such as the stock markets, which they effectively have manipulated. The whole TARP issue is only the tip of the iceberg of Fed and Treasury assistance to TBTFs, and this has been to the detriment of the "real economy", which has continued to wither.

Small banks didn't get TARP money, but mid sized regional banks, such as my bank, Bank of the Ozarks, did, at Treasury insistence, under Paulson.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue May 10th, 2011 at 03:30:42 PM EST
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