....lybob Posted March 31, 2011 Share Posted March 31, 2011 Link to comment Share on other sites More sharing options...
Chef Jim Posted March 31, 2011 Share Posted March 31, 2011 What I really think is amazing is that the banks turned $30 billion (the total value of the SBLF) into $250 billion. So the SBLF no longer exists? But anyway this is not true. Link to comment Share on other sites More sharing options...
DC Tom Posted April 1, 2011 Share Posted April 1, 2011 But anyway this is not true. Well THERE'S a surprise... Link to comment Share on other sites More sharing options...
jjamie12 Posted April 1, 2011 Share Posted April 1, 2011 youtube.com/watch?v=0N8M8PjA-Ls&feature=feedu That was a bunch of nonsense. I would rate this person's level of knowledge about this particular subject at something like 40%. Plus, you've posted this before. Link to comment Share on other sites More sharing options...
Chef Jim Posted April 1, 2011 Share Posted April 1, 2011 That was a bunch of nonsense. I would rate this person's level of knowledge about this particular subject at something like 40%. Plus, you've posted this before. 40%? Boy, you're being generous. Link to comment Share on other sites More sharing options...
....lybob Posted April 1, 2011 Author Share Posted April 1, 2011 Small Business LendingUnder a new program designed to spur small business lending, community banks can exchange their rescue money for a potentially cheaper capital. So far, about 400 small banks have applied for $6 billion through the program, with about half planning to repay their bailout. Institutions that take advantage of the program can cut their government borrowing costs from 5 percent to as low as 1 percent, if they meet certain lending targets. Paul Rodeno, chief executive of Security Business Bank of San Diego, calls the program a “breath of fresh air” since he will immediately lower his interest payments — and use fresh money to pay back the bank’s $5.8 million bailout. WASHINGTON — Some banks will use money from a government program aimed at increasing small business loans to repay their federal bailouts, the Treasury Department official who oversees the bailout program said Wednesday.In a brief interview, Acting Assistant Secretary Timothy G. Massad said that Treasury has yet to grant approval to any banks seeking to use money from the Small Business Lending Fund to repay their bailouts, "but they will." Last year's law creating the lending program lets banks use money from that program to repay their bailouts. "I do expect them to approve the applications of many TARP recipients to refinance their loans under the small business lending fund," he said, using the acronym for the Troubled Asset Relief Program, the bailout's formal name. Sen. Charles Grassley, R-Iowa, complained in a recent letter to Treasury Secretary Timothy Geithner that using one federal program to repay another would be "an egregious example of budget gimmickry." Grassley wrote that he worries that the Obama administration is using the small business program as "a bailout for banks and a pass-through to falsely show profits in the TARP program." WASHINGTON – Sen. Chuck Grassley is asking the Treasury secretary for assurances that banks bailed out with government funds will not be allowed to use another government program to pay back their bailouts.“The reports that banks from New York to Nashville are using federal dollars from the so-called Small Business Lending Fund to increase profits and ‘pay back’ TARP make this look like another TARP-style money shuffle,” Grassley said. “Replacing one form of government subsidy with another wasn’t a repayment when GM did it and it still isn’t. The Treasury Department has an obligation to put the brakes on any tricky bookkeeping that misleads the American taxpayer and subverts what this program was supposed to do.” Link to comment Share on other sites More sharing options...
GG Posted April 1, 2011 Share Posted April 1, 2011 Gee, and here I thought that your crusade was about the mega banks. I didn't know that the small community lenders are also ripping off the taxpayer. So which one is it? Link to comment Share on other sites More sharing options...
jjamie12 Posted April 1, 2011 Share Posted April 1, 2011 40%? Boy, you're being generous. To be fair, you can't make up those half-truths without understanding the 'half'. I marked him down because in a 'bailout' rant, he's complaining about the Fed Funds rate. However, I did mark him up for understanding that bailing out AIG helped to funnel money back to the banks. Link to comment Share on other sites More sharing options...
Chef Jim Posted April 1, 2011 Share Posted April 1, 2011 In a brief interview, Acting Assistant Secretary Timothy G. Massad said that Treasury has yet to grant approval to any banks seeking to use money from the Small Business Lending Fund to repay their bailouts, "but they will." Last year's law creating the lending program lets banks use money from that program to repay their bailouts. So whose fault is it? Not the banks. Maybe GE. Link to comment Share on other sites More sharing options...
OCinBuffalo Posted April 1, 2011 Share Posted April 1, 2011 M E M O R A N D U M Date: 1 APR 2011 To: Posters in this thread, and every other PPP poster who can be reached From: OCinBuffalo Subject: Handling of the ...lybob issue____________________________________________________________________________________________________________________________________ It has come to my attention that people on this board have been treating ...lybob as anything other than the spam bot that he is. The net result of that misguided action is that the board ends up with useless links to articles and youtube that inevitably are of 0 value to anyone. In the future, please refrain from interacting with ...lybob as you would a normal poster. ...lybob has no original thoughts, never mind well constructed "takes" or insight on any matter. Therefore, following this policy costs us nothing. Also, it's clear that ...lybob spends hours and hours coming up with dopey nicknames. Therefore, if you refuse to respond to his spam, you are actually helping ...lybob as well, as perhaps he will do something useful with those hours. It's April fools after all. And now, none of you can say you didn't get the memo. Link to comment Share on other sites More sharing options...
....lybob Posted April 1, 2011 Author Share Posted April 1, 2011 M E M O R A N D U M Date: 1 APR 2011 To: Posters in this thread, and every other PPP poster who can be reached From: OCinBuffalo Subject: Handling of the ...lybob issue____________________________________________________________________________________________________________________________________ It has come to my attention that people on this board have been treating ...lybob as anything other than the spam bot that he is. The net result of that misguided action is that the board ends up with useless links to articles and youtube that inevitably are of 0 value to anyone. In the future, please refrain from interacting with ...lybob as you would a normal poster. ...lybob has no original thoughts, never mind well constructed "takes" or insight on any matter. Therefore, following this policy costs us nothing. Also, it's clear that ...lybob spends hours and hours coming up with dopey nicknames. Therefore, if you refuse to respond to his spam, you are actually helping ...lybob as well, as perhaps he will do something useful with those hours. It's April fools after all. And now, none of you can say you didn't get the memo. Dear Opti-Clown not really hours. Link to comment Share on other sites More sharing options...
OCinBuffalo Posted April 1, 2011 Share Posted April 1, 2011 Dear Opti-Clown not really hours. I literally tell you that you have no original ideas. Then, Gene calls me a clown, and you respond here.....with clown, thus confirming that point, and proving that you are an unmitigated moron as well. Amazing buffoonery ...lybob, I really have to hand it to you. Link to comment Share on other sites More sharing options...
....lybob Posted April 1, 2011 Author Share Posted April 1, 2011 I literally tell you that you have no original ideas. Then, Gene calls me a clown, and you respond here.....with clown, thus confirming that point, and proving that you are an unmitigated moron as well. Amazing buffoonery ...lybob, I really have to hand it to you. Dear Ossified Cranium you got me there Link to comment Share on other sites More sharing options...
OCinBuffalo Posted April 1, 2011 Share Posted April 1, 2011 (edited) Dear Ossified Cranium you got me there I've got you everywhere, all the time. There are threads yet to be created, about things that haven't happened yet, years from now, and you know what? I already own you in them. Edited April 1, 2011 by OCinBuffalo Link to comment Share on other sites More sharing options...
....lybob Posted April 1, 2011 Author Share Posted April 1, 2011 I've got you everywhere, all the time. There are threads yet to be created, about things that haven't happened yet, years from now, and you know what? I already own you in them. Dear Offal Consumer, what color is the sky in your world. Link to comment Share on other sites More sharing options...
DC Tom Posted April 1, 2011 Share Posted April 1, 2011 There are threads yet to be created, about things that haven't happened yet, years from now, and you know what? I already own you in them. That was a slam worthy of me. Link to comment Share on other sites More sharing options...
....lybob Posted April 1, 2011 Author Share Posted April 1, 2011 That was a slam worthy of me. about time, DC finally gives OC a reach around. Link to comment Share on other sites More sharing options...
Chef Jim Posted April 1, 2011 Share Posted April 1, 2011 (edited) about time, DC finally gives OC a reach around. Ok so let's grow up here. Can you address the issue of why the banks are using that money, who authorized them to use that money, how much of that money has actually been used to pay back the TARP and the lie "Young Turk" threw out there that the "banks" have used this money to pay back TARP. Edited April 1, 2011 by Chef Jim Link to comment Share on other sites More sharing options...
GG Posted April 1, 2011 Share Posted April 1, 2011 about time, DC finally gives OC a reach around. You do have a particular fixation on homoerotica. Link to comment Share on other sites More sharing options...
DC Tom Posted April 1, 2011 Share Posted April 1, 2011 Ok so let's grow up here. Can you address the issue of why the banks are using that money, who authorized them to use that money, how much of that money has actually been used to pay back the TARP and the lie "Young Turk" through out there that the "banks" have used this money to pay back TARP. ...without linking to a youtube video of a Russian news story that you clearly don't understand anyway. Link to comment Share on other sites More sharing options...
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