The Down Range Forum
Member Section => Politics & RKBA => Topic started by: Teresa Heilevang on October 16, 2009, 02:40:21 PM
-
Here is an synopsis & link to an article and info you won't see or hear in the major media, until it is too late.
The article has a list of the 13 biggest offenders, with Total Assets, TARP Received, % of Total Assets, & Leverage Ratio.
There are links to the total list of 33, & other Treasury data, plus much more info I didn't include.
Thirty-three TARP recipients missed a scheduled dividend payment to taxpayers last month, according to the Treasury Dept., including 18 banks that missed a payment for the first time. It is a powerful indication that the US banking system remains in trouble. And it throws cold water on talk that the taxpayers are "making money" on the bailout.
"It's too early to tell if we're making money on TARP," according to Eric Fitzwater, an associate director of SNL Financial. "Certainly the vast majority of the bailout money is still outstanding. While a lot of larger recipients say they plan to pay it back, we're still waiting."
The 33 banks that missed dividend payment in Aug. have received $4.5 billion of TARP money. The biggest is CIT, where Treasury's $2.3 billion investment seems headed towards zero.
According to the latest data from Treasury, 42 banks have paid back some or all of the cash they got from TARP's Capital Purchase Program (CPP), $70.7 billion in total. But more than 600 banks remain in the CPP program. Together, they still owe $134 billion.
And this excludes other TARP bailout programs that are likely to cost billions.
http://blogs.reuters.com:80/rolfe-winkler/2009/10/08/tarp-deadbeats/