Fed makes billions on AIG

[Truthmatters]

New York Fed turns AIG bailout into $18 billion profit - Aug. 23, 2012


NEW YORK (CNNMoney) -- The Federal Reserve finally has wiped its hands clean of AIG and turned a nearly $18 billion profit for taxpayers in the process.

Now it's up to the Treasury Department to sell the rest of the U.S. government's stake in the insurance giant.





The Federal Reserve Bank of New York announced Thursday that it had sold the last of its securities related to the AIG (AIG, Fortune 500) bailout. The portfolio, known as Maiden Lane III, consisted of collateralized debt obligations, or CDOs -- highly complex financial instruments that bundle various kinds of debt. The Maiden Lane III sales earned $6.6 billion.

 

[Truthmatters]

that is a tidy sum and its not going to hurt the budget either.

 

[syrenn]

 

[Truthmatters]

glad to see this makes you happy.

it makes the budget happy too

 

[Mad Scientist]

That's great! Now how much of the 7.7 Trillion The Fed loaned out to banks all over the world since 2008 has been paid back?
7,700,000,000.00 Trillion
-
18,000,000.00 Billion
=
7,682,000,000.00 Trillion

 

[Truthmatters]

link?

 

[Mad Scientist]

link?

You doubt me? My name isn't rdean you know. This is from ABC/Bloomberg so you have to accept the source. Read it and weep:
Fed Loaned Banks Trillions in Bailout, Bloomberg Reports - ABC News

Fed Chairman Ben Bernanke had argued back in 2008 when the crisis hit that revealing borrower details would create a stigma that would have led to more banks collapsing. (Liar!) And the Fed fought to keep the details of the loans, which totaled $7.77 trillion, secret long after.

Sorry, I was wrong. It was 7.77 Trillion!

 

[Truthmatters]

Secret Fed Loans Gave Banks $13 Billion Undisclosed to Congress- Bloomberg


It was Bush who did it you fool.

It was done BEFORE the crash

 

[Truthmatters]

18 billion is going into the coffers folks and not one of you can admitt that is a good thing

 

[syrenn]

link?

You doubt me? My name isn't rdean you know. This is from ABC/Bloomberg so you have to accept the source. Read it and weep:
Fed Loaned Banks Trillions in Bailout, Bloomberg Reports - ABC News

Fed Chairman Ben Bernanke had argued back in 2008 when the crisis hit that revealing borrower details would create a stigma that would have led to more banks collapsing. (Liar!) And the Fed fought to keep the details of the loans, which totaled $7.77 trillion, secret long after.

Sorry, I was wrong. It was 7.77 Trillion!

$7.77 trillion...... oh my.

 

[Truthmatters]

yes and it was Bush who did that you sllly gits

 

[Truthmatters]

Now can even ONE of you cons admitt this is a good result?

 

[hortysir]

$18 Billion, hunh?




Only $15.82 TRILLION to go

 

[Mad Scientist]

It was Bush who did it you fool.

It was done BEFORE the crash

Bush didn't do it. Ben Bernanke did it. HE'S the one in charge of the Privately Owned Federal Reserve. And those loans continued AFTER the crash and AFTER Obama was elected.

You notice that "Don" Bernanke is STILL in charge?

 

[Two Thumbs]

From the link;

That said, the U.S. government is not entirely free of AIG. The Treasury Department still owns $29 billion, or roughly 53% of AIG's common stock.

The Treasury Department has said it too expects to make a profit on that investment, as it sells the shares over time


AIG is one company with many competitors. I wonder how many smaller companies got crushed to big 0 can spike the football in an election year.

fucking commies, never care about anything but their party. Just think of how many people are still unemployed and big 0 still thinks that's funny.

 

[Mad Scientist]

Now can even ONE of you cons admitt this is a good result?

So if I owed you 100 dollars and I paid you back less than one cent you would call that a "good result"? You'd be happy with that?

 

[Truthmatters]

From the link;

That said, the U.S. government is not entirely free of AIG. The Treasury Department still owns $29 billion, or roughly 53% of AIG's common stock.

The Treasury Department has said it too expects to make a profit on that investment, as it sells the shares over time


AIG is one company with many competitors. I wonder how many smaller companies got crushed to big 0 can spike the football in an election year.

fucking commies, never care about anything but their party. Just think of how many people are still unemployed and big 0 still thinks that's funny.

Yeap which means in the end it will be even MORE than 18 billion that goes into the Feds coffers

 

[Truthmatters]

Now how is it bad that the fed investiment in saving this company is making the PEOPLE money?

 

[Truthmatters]

AIG employes people.

Why dont you call them Job creators?

 

[Truthmatters]

Bank Bailout Returns 8.2% Beating Treasury Yields - Bloomberg


The U.S. government’s bailout of financial firms through the Troubled Asset Relief Program provided taxpayers with higher returns than yields paid on 30- year Treasury bonds -- enough money to fund the Securities and Exchange Commission for the next two decades.

The government has earned $25.2 billion on its investment of $309 billion in banks and insurance companies, an 8.2 percent return over two years, according to data compiled by Bloomberg. That beat U.S. Treasuries, high-yield savings accounts, money- market funds and certificates of deposit. Investing in the stock market or gold would have paid off better.
The government has earned $25.2 billion on its investment of $309 billion in banks and insurance companies, an 8.2 percent return over two years, according to data compiled by Bloomberg. Photographer: Jin Lee/Bloomberg



When the government first announced its intention to plow funds into the nation’s banks in October 2008 to resuscitate the financial system, many expected it to lose hundreds of billions of dollars. Two years later TARP’s bank and insurance investments have made money, and about two-thirds of the funds have been paid back. Yet Democrats are struggling to turn those gains into political capital, and the indirect costs of propping up banks could have longer-term consequences for the economy.