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-   -   $68 Billion Repaid! (http://www.clubcobra.com/forums/lounge/97718-68-billion-repaid.html)

Sharroll Celby 06-18-2009 03:31 PM
$68 Billion Repaid!
 
As of Wednesday, Ten banks have paid back $68 Billion back to the Gov't.
JPMorgan Chase and Co. ---- $25 Billion
Morgan Stanley ---- $10 Billion
Goldman Sachs Group Inc. ---- $10 Billion
U.S. Bancorp ---- $6.6 Billion
Capital One Financial Corp. ---- $3.6 Billion
American Express Co. --- $3.4 Billion
BB&T Corp, Bank of New York Mellon Corp., Northern Trust Corp., and State Street Corp. made up the remainder .

A little bit of good news on the financial front.

cobra de capell 06-18-2009 04:09 PM
On the other hand, it's my understanding that repayment results in the re-distribution of repaid funds to other companies that need the funds. In other words the trap program is opened ended.

Also, most of thes institutions were forced to take funds at the get go.

Therefore, this may be news but not necessarily good news.

bomelia 06-18-2009 05:35 PM
I think we are talking "drops in the bucket"

http://www.nytimes.com/interactive/2...s-graphic.html

Some of you guys get so excited over Obama's "successes" that you overlook the facts. Some, if not all of the banks repaying the loans did not want the money (or need it) in the first place. But THAT will get very little coverage in the MSM. No,the Great One has a success to hang his hat on, and the MSM is gonna help him hang that hat. Just keep track of how often you hear "good news" in association with this story.

Mike

dave from mesa 06-18-2009 06:02 PM
JPMorgan Chase and Co. ---- $25 Billion
So let me get this straight.
Six months ago they needed the money and nothing has changed and now they have $25 billion in profits?????
I must be dumber than I thought.

Sharroll Celby 06-18-2009 07:26 PM
Some people must never get tired of drinking salty beer ;)

cobra de capell 06-18-2009 08:42 PM
Quote:
Originally Posted by dave from mesa (Post 959334)
JPMorgan Chase and Co. ---- $25 Billion
So let me get this straight.
Six months ago they needed the money and nothing has changed and now they have $25 billion in profits?????
I must be dumber than I thought.
No, it was not paid back out of profits - they simply payed back the same funds that they were paid by the government - they didn't originally need the funds - they were forced to take the funds, probably just to insure that the focus wasn't on the few big banks that were really in trouble, like Citi Bank.

Nothing is transparent when Obama is involved.

Sharroll Celby 06-19-2009 11:37 AM
$68 Billion is a start. We shall see what other funds are repaid as time goes on.

cobra de capell 06-19-2009 01:39 PM
Quote:
Originally Posted by Sharroll Celby (Post 959569)
$68 Billion is a start. We shall see what other funds are repaid as time goes on.
You are way too optimistic…..a 10% payback from financial institutions that didn’t need it in the first place is the easy part – now it goes out to those that do need it as well as any company that needs it according to our federal government. It’s basically a slush fund to carry out other Obama Administration “reforms.”

Also, it's not real money, anyway. The feds don't have any money. They will need to secure your money to continue this plan.


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