Fed makes billions on AIG

Discussion in 'Economy' started by Truthmatters, Aug 25, 2012.

  1. Truthmatters
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    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.
     
    Last edited: Aug 25, 2012
  2. Truthmatters
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    that is a tidy sum and its not going to hurt the budget either.
     
  3. syrenn
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    :lmao:
     
  4. Truthmatters
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    glad to see this makes you happy.

    it makes the budget happy too
     
  5. Mad Scientist
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    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
     
  6. Truthmatters
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    link?
     
  7. Mad Scientist
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    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
    Sorry, I was wrong. It was 7.77 Trillion!
     
  8. Truthmatters
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    18 billion is going into the coffers folks and not one of you can admitt that is a good thing
     
  10. syrenn
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    $7.77 trillion...... oh my.
     

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