That means the government as a whole directly accounts for 40% of the US GDP. Indirectly it's considerably higher. When you consider that the Federal Highway system, the initial internet infrastructure, and almost all of the basic research behind things like computer chips were all government programs, it's easy to see that effective government is single most effective economic driver.
Bankers: Take your TARP money back - Mar. 27, 2009
Get it yet? Light bulb go off yet? Ready to admit you are wrong yet? Ready to admit that Obama and liberal elites have lied to you yet?Goldman Sachs (GS, Fortune 500), Bank of New York/Mellon (BK, Fortune 500), Wells Fargo (WFC, Fortune 500), JP Morgan Chase (JPM, Fortune 500) and Bank of America (BAC, Fortune 500) - all 'mega-banks' that the government forced to take bailout money - say they want to return taxpayer funds "as soon as practical."
Last edited by minnie616; 07-06-15 at 10:53 AM.
here's an article from Bloomberg. The Fed doled out $7,700 billion. TARP was only 700 billion. So Fed loans to the same banks who didn't need any bailout were TEN TIMES the TARP money. As I said, they didn't need TARP funds when Uncle Fed was willing to and did extend them all the short term capital they needed, backed by toilet paper.
What's hilarious is you mention Bank of America. At their peak, BoA borrowed $280 billion from just one program, the TAF - by far the number one borrower. Go look at the GAO report, Table 30. It's linked in this article from Forbes. Golden boy Jamie Dimon's firm (JPM) only borrowed $100 BILLION from that Fed program. More from others.The six biggest U.S. banks, which received $160 billion of TARP funds, borrowed as much as $460 billion from the Fed
Bank of America and New York-based Citigroup each received $45 billion from TARP. At the time, both were tapping the Fed. Citigroup hit its peak borrowing of $99.5 billion in January 2009, while Bank of America topped out in February 2009 at $91.4 billion.
LOL. You threw out one number. I dont recall anyone thinking the economy was going to completely crash, like we did in 2008, and I dont recall anyone in 1983 talking about how horrible the economy was. This crash was both deeper and longer, and was not self imposed deliberately, like the 81 one was. Kind of a big difference.
But congratulations, you derailed us from the main topic, which was showing how clownish all your responses to this health care thread have been.
Many Trump supporters have lots of problems, and those deplorables are bringing those problems to us. They’re racists. They’re misogynists. They’re islamophobic. They're xenophobes and homophobes. And some, I assume, are good people.