tag:blogger.com,1999:blog-2309311177399464085.post4921547853357819387..comments2024-03-09T22:15:08.461-06:00Comments on Lake County Eye: $700 Billion???Unknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-2309311177399464085.post-30706899952081126562009-01-11T07:12:00.000-06:002009-01-11T07:12:00.000-06:00Is the fact that the 1st disbursement of money has...Is the fact that the 1st disbursement of money has benefitted the executives of the financial industry? I am not saying you are wrong and that is certainly the perception, but can we document that?<BR/><BR/>I ask only because I am in the financial industry. My perspective is that the bank balance sheets are/were so bad that the all the TARP did was to keep the beneficiaries from going under. The problems ran deeper than anticipated and thus credit markets have not eased to the point of helping distressed homeowners. There are still significant write downs that will/need to occur coming. They have no idea what the quality of their balance sheets looks like. They can't possibly given the sheer volume of loans (both commercial and individual).<BR/><BR/>I am not making excuses for them, and am certainly opposed to using my money to fund poor business decisions but I also don't want the economy to worsen without trying to do whatever possible to prevent it. How much worse would we have been without TARP? I don't know.Anonymousnoreply@blogger.com