The TARP program was nevertheless necessary to keep banks from collapsing in a cascade of failures.— Mitt Romney
Glamorous Tarp quotations
I have newspapers coming to me and saying, 'Can we get in on the TARP?'.
I passionately disagreed with Treasury Secretary Hank Paulson's plan to bail out the banks by using a public fund called the Troubled Asset Relief Program (TARP) to help banks take toxic assets off their balance sheets. I argued that it would be much better to put the money where the hole was and replenish the equity of the banks themselves.
The government wants to control the banks, just as it now controls GM and Chrysler, and will surely control the health industry in the not-too-distant future. Keeping them TARP-stuffed is the key to control.
These people in the establishment have been telling us they're the ones to fix everything and everything they've tried to fix, they've botched - TARP, the recession fix such as the stimulus bill. Look at the college - college education is an impediment because of how much it costs. A college education is no longer a step up.
When you stop and look at so much of the kind of activism that has been triggered, the Tea Party and the like, as a result of Obama's efforts - TARP, the stimulus package, and now the health care reform - there is a lot of sense this government is changing.
People forget... that we structured it so that the government, or the people, would be repaid with a really good rate of return. And as it turns out, that aspect of TARP, that's what happened.
Our earliest evidence of government, in the ruins of Babylon and Egypt, shows nothing but ziggurats and pyramids of wasted taxpayer money, the TARP funds and shovel-ready stimulus programs of their day.
Not every company went bankrupt. Not every bank needed TARP [Troubled Asset Relief Program]. So I'm very proud that JPMorgan, throughout that time period, was completely steadfast. We bought Bear Stearns because we thought we were helping the situation. We didn't cut and run.
On domestic policy, Donald Trump agreed with Barack Obama and Hillary Clinton on the Wall Street bailout, the TARP bailout of big bank. I think the government ought to be standing with mainstream, with working men and women. And then you put on top of that the ethical issues, whether it is refusing to release his taxes. And that's a real problem.
TARP is funded by taxpayers, so there are many rules about how that money can and can't be used. The result: GM spends an awful lot of time checking in with the people who administer TARP over everything from hiring to executive compensation and management. For a global company, that adds up to a lot of distraction.
So long as TARP money is wrapped up in GM, the company will never shake its 'Government Motors' image. That label, as competitors and GM employees are keenly aware, is code for one thing: 'GM is a failure'.
Tea Party people know that I stood against the Wall Street scam from Day One, that I voted against TARP, that I voted against repealing Glass-Steagall Act that kept these guys under some control.
When Obama was inaugurated, he and his team had an insight - though whether the insight was conscious or not I don't know. But it was this: The TARP $700 billion price tag was a new kind of model.