The banks are paying back their 0% loans after making record profits? whoop-de-fucking-doo

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You know, if the government gave me a few billion dollars at 0% interest I could make enough money to live on for the rest of my life in just a matter of months then pay back the original loan.

These assholes crashed our economy and what did they get? 0% interest loans which they could then sell back to consumers for as high as 30%. And as a result they made record profits while the original system that led to the crash was left intact. So my apoloigies if I don't think of the bail outs as successful just because these assholes are paying back their handouts (after making record profits off those hand outs).

[sinkingfeeling]

1. Except no bank got a 0% interest rate. Anywhere from 5% to 19% was charged.

http://www.rothcpa.com/archives/004370.php

To get around this problem, TARP funding for S corporations will be in the form of subordinated debt. The debt will bear a 7.7% interest rate for the first five years, and a 13.8% rate thereafter. That compares to the 5% and 19 rate for TARP preferred stock. The S corporation rate is higher because interest on TARP senior preferred is deductible, while dividends are not.

[sharp_stick]

2. Thanks, I didn't know that

I also assumed they were getting it for free. Hell I was happy just to hear we were actually getting it back.

[CountAllVotes]

4. some banks have paid the money back

I know that American Express has paid the money back.

I seriously doubt that GMAC (now the crap Ally Bank) has not and they are still looking for more $$$ to line Dan Quayle's pockets with. He is the mastermind behind Celebrius, the company that runs GMAC if you study them. It all goes back to the same old crooks. :argh:

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5. I didn't know that, thanks. But if that's really true why will this program cost us 86 billion?

if we were making 5 - 20 percent interest on 700 billion we should come out way ahead.

[dionysus]

3. so you'll be angry no matter what happens. gotcha.

:rofl:

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6. No, I am angry at corporations that got a free gift after they crashed our economy

you seem like you will be happy no matter what happens.