Liberal Forum

Fuelman » 20 Jan 2026, 1:12 pm » wrote: ↑

20 Jan 2026, 1:12 pm

LowIQ's link called socialism=theft.

I remember plenty from 2008. We lived in one of the hardest hit county's in America. Riverside and San Bernardino in California. Our home purchased in 2004 for a little over $200k went up to about $470k by 2007. Thankfully we didn't access that equity as many people did and we didn't lose our jobs. We still got out with a small profit in 2010. A person I worked with and his wife who worked at a casino bought a $500k house at the top of the market, you know how that ended!

It appears that big banker socialism worked out in the long run for the Treasury.

The 2008 bank bailout, primarily through the Troubled Asset Relief Program (TARP), authorized $700 billion to stabilize the financial system, though this was later reduced to $475 billion; the total actual outflow was around $443.5 billion, with the program ultimately generating a profit for the U.S. Treasury after repayments and interest, according to GAO and Treasury. Key recipients included major banks, the auto industry, and AIG, with funds used for capital injections, credit market stabilization, and foreclosure prevention, per Treasury and ProPublica. 

Final Outcome: The Treasury eventually recovered more than it spent, booking a profit as banks repaid loans and sold their government stakes, notes Wikipedia and GAO.