Senate to Reduce Scale of TARP

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Wednesday, May 12, 2010 at 8:42 am

Last night, the Senate agreed to a proposal by Sen. Michael Bennet (D-Colo.) to reduce the funds available to TARP, the Troubled Asset Relief Program, from $700 billion to $550 billion. Bennet’s amendment to Sen. Chris Dodd’s (D-Conn.) financial regulatory reform proposal also requires bailout funds repaid by Wall Street firms and automakers to go towards reducing the deficit — not to pay for job creation programs, as some Democrats had hoped.

The TARP program has never dispensed all of its funds — giving a total of $383 billion to big banks and auto firms, $187 billion of which has been paid back. Leaving the cap at $550 billion allows the administration some wiggle room to aid ailing banks if, for instance, housing double-dips. The government expects to ultimately break even on the program.

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13 Comments

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[...] Agrees to Reduce Tarp Posted on May 12, 2010 by David A wise move for the nation considering how high our debt is and for Senator Bennet, who reportedly is in a [...]


Yellowbird
Comment posted May 12, 2010 @ 5:03 pm

If the top 10 % of people have 70% of the money of the USA, and the next 10% has 20%, then the people who work for a living have to scrapple for the remaining 10% of the total income of our nation. That's 90% of the people ALREADY trained on living on 10% of the national output. So who gets hurt if it all crashes? Not the bottom 10%. Only the rich will get really hurt. The rest of us already know how to live with less.


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Nich
Comment posted May 12, 2010 @ 10:46 pm

Every Newluy printed Federal reserve Note that is Printed we be Pais to Boxers Relitives ib Israilel To the World Bank,To the IMF,to the FederalReserve Bank and diostributed to their Anti American Relitives to Buy Up America or start a compeeteing Busness or an Import Company and We in america Will Pay them the Interst forever as Barbra Will Just Keep adding more Programs that will require more Borrowing frome Her anti american Relitives in Finance
Remember American Money is Still Gold and Silver
They Have Stollen It out Of Circulation and Gave You Their Debit Instruments
The Power to Tax is the Power to Destroy and They Have destroyed America With All their Tax PONZI Scams Acros America and The World


Nich
Comment posted May 12, 2010 @ 11:04 pm

As the Quanity Of Anti American Anti Christ anti Constitution Jews and Jewish Lobbys increase, the Quality of Life ,Morals ,Money and the Production of American products Has and Will Decrease .

Every Newly printed Federal res.Nts. Will Be Paid, and Distribuited
To Their Anti american Relitives
Or Start up a Competing Buesness Borrowing from Her Anti American Relatives in Bankingh and Finance
Obama Is Their Man in the white House and Now with Mandatory Helth Insurance Next they Will Put Mandatory Union Membershipant a MORE Tax on Every Movement and Need.
Socilist security Cost Every American $2,000,000.00 at 18% for 45 Years in Ther Life Time .What do you Think WHAT National Health Insurance Will Cost At $5,000.00 a year for 70 or 80 years pluss INTEREST.Then compute 30 % income Tax Extortion and salel tax plus 6% interst in 80 years
Did You Know Even The Poorest American Will have Millions Stollen in their Life Time anf it will all Go Out of Our country and in their Pocvkets


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