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Reply #20: You'd be Paying a Lot More Without TARP [View All]

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On the Road Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Jan-15-11 11:20 AM
Response to Reply #18
20. You'd be Paying a Lot More Without TARP
Edited on Sat Jan-15-11 11:22 AM by On the Road
If AIG repays the loans fully, that leaves the government on the hook for a few small banks. It's about the cheapest financial meltdown you can imagine.

IF AIG failed and took down some major banks, the cost in lost tax revenue, not to mention FDIC insurance payments, would be in the hundreds of billions or most likely trillions.

Bear Stearns and Lehman Brothers were lesson territory, and that was almost too much for the system. Economic life as we know it would most likely not exist if the system crashed.
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