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Barney Frank: Let's spend TARP profits before taxpayers can

hypocritexposer

Well-known member
Barney Frank: Let's spend TARP profits before taxpayers can get them
By: Byron York
Chief Political Correspondent
07/01/09 9:19 PM EDT
When President Obama announced on June 9 that some financial institutions would be allowed to repay Troubled Asset Relief Program dollars, he said the massively expensive TARP bailout had made money for the federal government. "It is worth noting that in the first round of repayments from these [TARP recipients], the government has actually turned a profit," the president said. Indeed, TARP supporters have long held out the hope that the program might be profitable.

But now Rep. Barney Frank, the chairman of the House Financial Services Committee, has come up with a proposal to spend any TARP profits before they can be returned to the taxpayers. Last Friday, Frank introduced the "TARP for Main Street Act of 2009," a bill that would take profits from the program and immediately redirect them toward housing proposals favored by Frank and some fellow Democrats

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Barney-Frank--49649362.html
 

Sandhusker

Well-known member
How flipping bad do you have to be at your job in Washington before you get get canned? The man has already proven that he is a complete idiot and he's still making policy? And liberals wonder why we're having tea parties?
 

SMN Herf

Well-known member
hypocritexposer said:
Barney Frank: Let's spend TARP profits before taxpayers can get them
By: Byron York
Chief Political Correspondent
07/01/09 9:19 PM EDT
When President Obama announced on June 9 that some financial institutions would be allowed to repay Troubled Asset Relief Program dollars, he said the massively expensive TARP bailout had made money for the federal government. "It is worth noting that in the first round of repayments from these [TARP recipients], the government has actually turned a profit," the president said. Indeed, TARP supporters have long held out the hope that the program might be profitable.

http://www.washingtonexaminer.com/opinion/blogs/beltway-confidential/Barney-Frank--49649362.html

How many people really beleive that we have made money from the TARP program? Just because a few banks heve repaid the money with interest, doesn't mean the rest of the loans will be repaid.
 
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