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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.
Yes this IS GOOD NEWS!!! The Bush TARP fund is being repaid and a nice tidy profit is being realized. Once again congratulations go to Bush and his economic advisors for devising this plan. Too bad Obama and his economic advisors were too fucking stupid to see that their "Stimulus" could have been set up the same way...but instead it was used as a giant slush fund to pay off supporters....WITH NO CHANCE of repayment.
HAHQAHAHAHAHAHAHAHAH
remember how many times we had to remind these people that TARP was done by Bush?
Now that it worked they remembered it was Bush and Paulson. It could have made us a shitload more too but they wanted to get the CEOs their bonuses.
Welcome to kensyian economic thoery, its works better than Unfettered markets thankfully.
Dude bashes the Dems and the Repubs....
You need to turn down the morphene drip....
You are half right for a change.
LOL on the drip, someone who takes on the net persona of a pain pill addict....
And House is not even short term terminal is he?
I just like the show... I am not "Dr. House" nor Hugh Laurie...
You're not doing to well today... Perhaps more rest...
You are half right for a change.
LOL on the drip, someone who takes on the net persona of a pain pill addict....
And House is not even short term terminal is he?
I just like the show... I am not "Dr. House" nor Hugh Laurie...
You're not doing to well today... Perhaps more rest...
Even on Morphine my mind works better than yours.
I have no good days. Some just worse than others.
The show is fantasy not reality, just like the "conservative" right.
I just like the show... I am not "Dr. House" nor Hugh Laurie...
You're not doing to well today... Perhaps more rest...
Even on Morphine my mind works better than yours.
I have no good days. Some just worse than others.
The show is fantasy not reality, just like the "conservative" right.
Sorry to hear it USC, I have to admitt you are my Hero in so many ways.
I love you man.
You can believe what you want... I really don't care...You are half right for a change.
LOL on the drip, someone who takes on the net persona of a pain pill addict....
And House is not even short term terminal is he?
I just like the show... I am not "Dr. House" nor Hugh Laurie...
You're not doing to well today... Perhaps more rest...
Even on Morphine my mind works better than yours.
I have no good days. Some just worse than others.
The show is fantasy not reality, just like the "conservative" right.
*yawn*
Ending slavery was big government imposing extreme anti-business anti-capitalist regulation on the unfettered market.
You're a phoney.
See someone about all that white guilt you got bubbling inside you, fat boy....
There's plenty of shrinks who'd make case studies out of you...
You can believe what you want... I really don't care...I just like the show... I am not "Dr. House" nor Hugh Laurie...
You're not doing to well today... Perhaps more rest...
Even on Morphine my mind works better than yours.
I have no good days. Some just worse than others.
The show is fantasy not reality, just like the "conservative" right.
I don't believe everything on Algore's interwebs either...
You are half right for a change.
LOL on the drip, someone who takes on the net persona of a pain pill addict....
And House is not even short term terminal is he?
I just like the show... I am not "Dr. House" nor Hugh Laurie...
You're not doing to well today... Perhaps more rest...
Even on Morphine my mind works better than yours.
I have no good days. Some just worse than others.
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.
You can believe what you want... I really don't care...Even on Morphine my mind works better than yours.
I have no good days. Some just worse than others.
The show is fantasy not reality, just like the "conservative" right.
I don't believe everything on Algore's interwebs either...
And well you don't, the net is just like paper it does not care what you put on it.
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?
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?
Exactly Dude.............the k00ks never consider that. $$ that come in go right back out the door with more spending = more debt.
Liberalism is a hoax!!! Always has been.............always will be.
Right...I'll give odds that the money recouped will be spent, rather than used to retire the debt printing it up out of thin air created.
Any takers?
Beuller?
Right...I'll give odds that the money recouped will be spent, rather than used to retire the debt printing it up out of thin air created.
Any takers?
Beuller?
Exactly Dude.............the k00ks never consider that. $$ that come in go right back out the door with more spending = more debt.
Liberalism is a hoax!!! Always has been.............always will be.
As is conservatism.
the conservatives will compalin publically but be sure and get their share of that money.
