More economic Good News: US can make 40% profit off of Citigroup stock sales

Discussion in 'Politics' started by rightwinger, Apr 26, 2010.

  1. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Treasury could reap 40% profit in sale of some Citigroup stock - USATODAY.com

    WASHINGTON — The Treasury Department said Monday that its first sales of Citigroup stock (C) will cover up to 1.5 billion shares.
    That would amount to about 20% of the 7.7 billion shares of Citigroup common stock the government owns.

    It received the shares as compensation for the financial support it extended to the bank during the height of the financial crisis.

    In a statement Monday, Treasury said it plans to proceed with the sales of the Citigroup common stock "in an orderly fashion under a pre-arranged trading plan with Morgan Stanley, Treasury's sales agent."

    Treasury did not disclose in its brief announcement exactly when the stock sales would begin or how long the sales would last.

    Treasury said Morgan Stanley has authority to make the sales "under certain parameters" and Treasury expected to give the company the authority to sell additional shares after the initial 1.5 billion shares had been sold.

    The sales should earn a tidy profit for the government, which bought the common stock in the summer of 2009 at $3.25 a share. Citigroup closed Friday at $4.86 a share.
     
    Last edited: Apr 26, 2010
  2. Oddball
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    Oddball BANNED Supporting Member

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    Right...I'll give odds that the money recouped will be spent, rather than used to retire the debt printing it up out of thin air created.

    Any takers?

    Beuller?
     
  3. Truthmatters
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    Truthmatters BANNED

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    Tarp worked and now the people who spewed the hate all over one of the few good things Bush did have no way to defend their stupidity about it for months.

    Now if Paulson had done it correctly and put stipulations on the cash LIKE having to loan it to Americans and not giving big pocket lining bonuses it would have worked even better.

    We are all keynseans now.


    If Tarp had not happened how much money would the fed have been on the lime for in insured deposits?

    Tarp had to happen and every sane person knows it.

    TOOO BAD the right refuses to accept it was their failed economic ideas of unfettered markets the caused the NEED for Tarp in the first place.
     
  4. Oddball
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    Oddball BANNED Supporting Member

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    You wouldn't know an unfettered market if it hit you on your pointy little head.
     
  5. Dr.House
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    Dr.House Lives on in syndication!

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    Porkulus didn't work, liar...

    Economists say the stimulus didn't help - Apr. 26, 2010
     
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  6. Truthmatters
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    There is nothing called porkulus


    Tarp is what we were talking about fool
     
  7. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    So, the government to enacts regulations which drive down the price of a company's stock and then said government performs a financial takeover/seizure/loan on that company. Add a bit of economic and legislative voodoo, and voila, the government manipulates the stock price.

    Why is this good?
     
  8. Dr.House
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    Dr.House Lives on in syndication!

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    Call it what you want...

    You still don't know shit, which is amazing for such an asshole like you...
     
  9. Truthmatters
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    do y0ou really think it was the gov who tanked the stock?

    jesus these people are becomeing delousional
     
  10. Truthmatters
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    blalalallallalb;llalallblalbalsblalgbb.

    Why dont you go watch some more TV and find a new phoney assed hero to worship.

    your ideas failed and dfucked everything up.

    Get some new ideas that wont crash the world economy for the second time in one lifetime.
     

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