Bernie in 2020

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deadOA said:
You mean to take Billions of Dollars from the "weak-minded" people to bail out the "hard-working" criminals of failed Big Banks for example?
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That's pretty funny. Yeah, so what I mean about weak-minded are people who don't have the facts and/or ignore the facts.

The US Govt made a profit of $15.3 billion on the TARP program - which I assume is the "bail out" you refer to. The US Govt injected cash into the banks (the vast majority of which were smaller than $1B in assets) and in turn, received warrants in those banks. A few years later, the US Govt sold those warrants for a collective $15.3 billion profit. This profit was deposited directly into the US Treasury for the benefit of all taxpayers.
 
TheDonald said:
That's pretty funny. Yeah, so what I mean about weak-minded are people who don't have the facts and/or ignore the facts.

The US Govt made a profit of $15.3 billion on the TARP program - which I assume is the "bail out" you refer to. The US Govt injected cash into the banks (the vast majority of which were smaller than $1B in assets) and in turn, received warrants in those banks. A few years later, the US Govt sold those warrants for a collective $15.3 billion profit. This profit was deposited directly into the US Treasury for the benefit of all taxpayers.
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careful with those facts. there is plenty out there to suggest that if you adjust for inflation, TARP lost money. 15.3 billion over 6 years was 0.6% annually. worse than just about any other investment you could make with your money.
 
deadOA said:
Nothing is funny about stealing Billions of public taxpayers to subsidize the thieves.
Real capitalism: "if you fail you die".
Talking about thieves "getting Billions for nothing".
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It wasn't the content of your reply, it was the shrill, dramatic tone that I found funny.

Here is an excerpt from today's JP Morgan press release:

"JPMorgan Chase will continue to use its capital, people and
expertise to drive great outcomes for our communities. This quarter alone, we
announced two important programs that we believe will make a difference in the
long run – first, a $350 million New Skills at Work commitment focused on
preparing people to succeed in our transformed workplaces and in the changing
global economy."

If you describe a thief as someone who donates $350 million, then the world needs more thieves.
 
sts7049 said:
careful with those facts. there is plenty out there to suggest that if you adjust for inflation, TARP lost money. 15.3 billion over 6 years was 0.6% annually. worse than just about any other investment you could make with your money.
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Inflation during those years, minus food and fuel, was about 1%. Many of the banks were forced to issue the warrants, so they bought them back almsot immediately, meaning there was no opportunity for return. I'm not sure what you mean by "worse than any other investment..." There were hundreds of worse investments at that time.
 
TheDonald said:
Inflation during those years, minus food and fuel, was about 1%. Many of the banks were forced to issue the warrants, so they bought them back almsot immediately, meaning there was no opportunity for return. I'm not sure what you mean by "worse than any other investment..." There were hundreds of worse investments at that time.
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i'm just saying 0.6% return on investment is pretty poor.

in any case just throwing the 15 billion profit number out is misleading. like the government made a bunch of profit we should be proud of. not really the case.
 
I am a free market capitalist. As such, I could never in my right mind defend TARP or any type of corporate welfare.
But I find very interesting when other self proclaimed capitalists/conservatives do. In my mind they are just like Bernie, but towards the rich oligarchs.

Keynes vs Hayek
 
TheDonald said:
the world needs more thieves.
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I´ll leave this one for you good conscience.

Donating $350 Million after freebie "for nothing" bailout handout of $475 Billion from public coffers to corporate welfare. (Meanwhile, 60% of the American public household can´t afford $1000 emergency fund and 50% of the American public wages below $30,000 and 30 Million Americans still without health coverage even today). That is rich.

Obama did the TARP, and he (and all democrats) are no different from any republican.
He immediately found $475 Billion for failed banks but for decades no one will ever find $30 Billion for single payer Medicare for All. Or $40 Billion for college tuition. Trillion Dollar tax cut for the gazillionaires, is no problem whatsoever, but $30 Billion for public Medicare not in a Million years.
Is it any surprise that after 8 years of fu***** Obama that we got Trump?

If Bernie does not abandon democrats to run as an Independent (to freely unveil the full truth) he will be cheated again and fail again. My prediction.
 
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TheDonald said:
It wasn't the content of your reply, it was the shrill, dramatic tone that I found funny.

Here is an excerpt from today's JP Morgan press release:

"JPMorgan Chase will continue to use its capital, people and
expertise to drive great outcomes for our communities. This quarter alone, we
announced two important programs that we believe will make a difference in the
long run – first, a $350 million New Skills at Work commitment focused on
preparing people to succeed in our transformed workplaces and in the changing
global economy."

If you describe a thief as someone who donates $350 million, then the world needs more thieves.
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First the government gives them a tax break of $3.7 billion towards profits, then they "donate" $350 million, and, of course, deduct that from their taxes too. Good work if you can get it. Especially this time of year, when I am sending money to Trump for his new improved tax rates.
https://www.cnn.com/2019/04/04/business/jamie-dimon-letter-jpmorgan-chase/index.html
 
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