Sen. Dick Durbin: "Bank Of America Customers Get The Heck Out Of That Bank!"

[Hauldren Collider]

Only when the federal government subsidizes those loans.

[giblets]

Only when the federal government subsidizes those loans.

That doesn't make sense. I don't see how the ability to make a bad loan and then sell it off to another bank is somehow dependent on a government subsidy. I think it would be dependent on the other bank being a sucker.

[Egbert]

TARP was paid back. Or at least, most of it was, I'm not clear on whether all of it was paid back. The point is that it didn't end up costing us a whole lot.

Can I borrow a trillion dollars to tide me over until payday? I'll pay you back. Promise.

[Egbert]

That doesn't make sense. I don't see how the ability to make a bad loan and then sell it off to another bank is somehow dependent on a government subsidy. I think it would be dependent on the other bank being a sucker.

Umh, since when did HC's politico-economic views need to make sense?

The market is perfect and is always absolutely right.

[Hauldren Collider]

The market is perfect and is always absolutely right.

This is closer to Kuci and KH's views than mine.

[Egbert]

This is closer to Kuci and KH's views than mine.

[Theben]

Oi, we only had one TARP. The Europeans seem to have needed six or seven. Besides, the money from TARP all got paid back by the banks.

$61 billion of the TARP money wasn't paid back.

Actually TARP and the stimulus were okay (stimulus would've been better with more $$ and less tax cuts). It's the ongoing "no-need-to-pay-us-back" loans from the govt to the banks that are sucking us dry.

[DaShi]

That doesn't make sense. I don't see how the ability to make a bad loan and then sell it off to another bank is somehow dependent on a government subsidy. I think it would be dependent on the other bank being a sucker.

Don't expect him to explain it. I'm sure he doesn't even know why he believes the stuff he does.