[lbo-talk] Dean Baker on cost of TARP

[Jordan Hayes]

A lot of misunderstanding about Buffett's quip about twice the return 
with half the investment in GS; Buffett's investment was real and an 
actual hit to his balanace sheet.  TARP was no such thing.

I'll simply note that paying off the loans was a top priority for these 
firms; they didn't feel like it was free at all.

I certainly agree that it's reckless to claim TARP was "free" ... but it 
is turning out to be a lot cheaper than was claimed at the time.  And 
the Maiden Lane SPVs are looking like a trade Buffett would be envious 
of.

/jordan