Drowning out the cries of "Socialism", tax payers to make a 12 BILLION profit on Citigroup deal

[pghquest]

Originally Posted by A_Lexus

Excellent post. So sick of all the whining and crying. Pubs have been whining since Obama won the election, after being silent while their village idiot leader wrecked the country. Dems gave Obama a mandate, then abandoned him for the midterms, leaving no option for him but to compromise because of increased Republican support. Now Dems are complaining. Absolutely absurd.

Good to see this. This was an effort that the president implemented without regard to public opinion. We need to see more of that.

Um, that village idiot, is responsible for the $12B profit It was BUSH that passed the TARP bill, not Obama..

[lifelongMOgal]

Originally Posted by pghquest

Should I expect a tax bill for this $40?

Also what these liberals seem to ignore is a $12B profit comes at the expense of the consumers who had to pay these fees to pay the "profits".. they didnt magically appear from no where... And while they are jumping for joy, they are ignoring the fact that $12B profit actually costs the taxpayers $4B in lost tax revenue because if investors had made the money it would have been taxed..

So, on the presumption that the OP's number of $12B is correct, that would have $4B subtracted from it so now we are at $8B. What was the interest paid to borrow that money from China, subtract that cost as well.

What would the real $ loss have been to the taxpayer had Citibank been allowed to fail?

Seriously, run these numbers down OP before throwing yourself a little party that might buy dinner for 5 at McDonalds.

[GuyNTexas]

Originally Posted by Arjay51

So, as a taxpayer when can I expect my portion of this "profit"? My money was sure taken in an expedient manner so is the sharing of this "profit" going to be handled the same way?

Or, as usual, is the government just going to take and waste this money as is its habit?

HAHAHAHAHA ... good for you!!! Somebody is still thinking !!! Hooray!

Yes ...I'd like to know when I'll receive my check too!

I swear ... given the utter stupidity of the basic premise of this thread .. it's no wonder why we are doomed.

The gangsters on Wall Street have robbed us of SEVERAL TRILLION in just the past 4 years ..... hooray!!! We got back 12 Billion back !!!!

Can we get an AMEN ? Or would it be better to just say ..... Baah.

[GuyNTexas]

Originally Posted by Pilgrim21784

Hey Folks,
I was just wondering - after all the screaming about the bailout, I guess the silence of the screamers is obvious. The CitiBank bailout has made (to date, it will go higher) a $12B profit on a $45B loan.

I guess the Fed and Treasury aren't as incompetent as many have made uniformed comments about. Perhaps the government isn't as incompetent as the screamers would like to believe.

The silence is deafening.

It's not the silence that is deafening ... it is the stupidity that is overwhelming.

Now ... tell us about the other several trillion that the FED has stolen, and given to the gangster buddies ... tell us about those profits. Oh ... the Fed won't reveal who they gave it to or how much .... hmmm ... I wonder why?

And there you have it ... hand out several Trillion .. get back 12 Billion, pop the champagne!!! Here's your sign!!!

[Pilgrim21784]

[i]

Originally Posted by pghquest

Does someone need to inform you that government shouldnt be investing TAX DOLLARS in businesses? If you think they should, tell me how I should apply for this grant.. cough, I mean loan!!

Someone also needs to tell you that there were lots of other losses, so if you make X from investment A, and then lose Y in investment B, its the TOTAL that needs to looked at.. You dont get to look at just A and then suggest you are a genius if B you lost 100%

Both a Republican and Democratic administration had the wisdom to disagree with your opinion. Or perhaps you would have preferred to roll the dice and see if the entire financial system would have gone down?

The "someone" might want to save their breath, I was an accountant/financial analyst by profession. I can do the math without "someone's" help or lectures on common sense.

The final tally on TARP is not known at this time. What is known is that without the intervention taken by both Bush and Obama the entire financial system was at risk.

I'll explain it one more time - my point was simply that the CitiBank rescue worked due to effective government action. They weren't making an investment, they were trying to avoid disaster. That action, by both administrations, probably saved us from catastrophe and few seemed inclined to recognize or applaud the action.

PS - I've been a registered Independent my entire life and am not overly fond of either party. Radical Liberals and Conservatives are why this country has the massive problems it does. JMO

Footnote: My original post was a separate thread which the Mod inexplicably cut and dumped my post into this thread. I created a separate thread because I wanted to avoid what I thought was a lot of chaff in this one. Such is life.

[jetgraphics]

A profit denominated in debt instruments (dollar bills), which have a minus value, is not profit.

Unless you consider it profitable to change from owing "only" 12 trillion to "only" 13.5 trillion.