Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Well, I guess it was a good idea after all. It kept the banking system from collapsing and then the government earns a profit.
Quote:
The government has already netted about $13 billion on the Citi bailout. It put $45 billion into the troubled bank at the height of the financial crisis in exchange for preferred and common Citigroup stock. The government got about $57 billion for that stake, selling the last of it in mid-2011. On top of that, earlier this year, the Treasury Department received nearly $900 billion for the insurance it provided Citi on its troubled portfolio. The current sale would bring the government's overall profit on the Citi bailout to nearly $15.5 billion.
Yeah the government risks our money,but keeps the profit. Will you fund an all expenses paid trip to vegas for me?
lol. Exactly what I was thinking. Yay!! The government nationalized a large portion of the financial sector, largely as a result of their own loose and careless policies, and they walk away with the profits.
Well, I guess it was a good idea after all. It kept the banking system from collapsing and then the government earns a profit.
I know a guy that won $5,000 on the slot machines in Tunica, MS, should I invest my 401K there as well?
For every winner, there are hundreds of losers where the .gov "invested" in companies. Also, find a single instance in the Constitution where the federal government has the power to bail out any company.
The s & P 500 is up around 40% in the last 5 1/2 years
no, no, no,.. The op things government profits good.. People profits bad.. remember, he's one of those posters who think the government is responsible for everyone..
I know a guy that won $5,000 on the slot machines in Tunica, MS, should I invest my 401K there as well?
For every winner, there are hundreds of losers where the .gov "invested" in companies. Also, find a single instance in the Constitution where the federal government has the power to bail out any company.
Ironic the OP is the one who started this thread because he's always out there bashing Bush while high 5ng Obama..
Most of the Bush "TARP" money was repaid, (and wasnt really at risk to begin with), while the Obama loans, most of those companies went bankrupt..
If the OP thinks this is good news, then maybe he needs to re-examine the success ratio of the Presidents.
lol. Exactly what I was thinking. Yay!! The government nationalized a large portion of the financial sector, largely as a result of their own loose and careless policies, and they walk away with the profits.
First, the government didn't "nationalize" Citibank. It did nationalize Freddy and Fannie.
Second, it wasn't government policies that caused the collapse. It was more like relaxing laws and regulations that existed for 80 years that caused the collapse. In other words, there weren't government forces in place to prevent the greedy banksters from killing the economy for their own benefit.
Third, there is nothing wrong with the government (our government) making a profit. If they took a lose, the same people would be 8itching about the lose.
First, the government didn't "nationalize" Citibank. It did nationalize Freddy and Fannie. .
Most of the loans securitizing the Citibank debt, was secured by Freddy and Fannie
Quote:
Originally Posted by MTAtech
Second, it wasn't government policies that caused the collapse. It was more like relaxing laws and regulations that existed for 80 years that caused the collapse. In other words, there weren't government forces in place to prevent the greedy banksters from killing the economy for their own benefit.
What policies were these?
Quote:
Originally Posted by MTAtech
Third, there is nothing wrong with the government (our government) making a profit. If they took a lose, the same people would be 8itching about the lose.
"loss", you mean like all of the losses which took place under the Obama administration?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
