Sale of Citi stock to net US taxpayers $8 billion.

Discussion in 'Politics' started by Mr. Peepers, Mar 27, 2010.

  1. Mr. Peepers
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    Mr. Peepers Senior Member

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    washingtonpost.com

    Not bad... Not bad at all. Now can you "conservatives" see that this administration is NOT trying to take over your precious private industry, esp. banks? Can you admit this now?
     
  2. Toro
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    Toro Diamond Member

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    Meh

    The American government risked a helluva lot more than the return we are getting.
     
  3. Mr. Peepers
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    Mr. Peepers Senior Member

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    Really? How so? If we make back with interest much more than what we loaned, how is that a bad thing for US taxpayers, which was ALWAYS the intent? It was never the goal of the administration to control the banks, despite what you guys have been screaming all along about "socialism". And you know all the banks are paying back all money + interest...
     
  4. dilloduck
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    dilloduck Diamond Member

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    Funny----none of that money feels like it's mine anymore
     
  5. California Girl
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    California Girl BANNED

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    "IF".....

    And... this conservative was for the bank bailout - not to save the banks but to save all of us. Because had the major banks collapsed, the whole world would have collapsed with them - we... as individuals would have lost everything overnight.

    Now, we want OUR money back. It is not Obama Money - no matter what the left might think. It's ours. So.... IF the Government get it back - they better fucking well not 'redistribute it' to anyone but the taxpayers.
     
  6. kitty
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    kitty Member

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    How else could they use it, except for the benefit of taxpayers?
     
  7. Toro
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    Toro Diamond Member

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    Risk/Reward

    The government didn't get much for what they risked.

    They have risked the economic future of our country because they have risked the future of the dollar. If people lose faith in the dollar, then we will have economic chaos and disorder.

    Warren Buffett got a much better deal than the government.
     
  8. Immanuel
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    Immanuel Gold Member

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    Three things about this:

    1) That is great if the government were to net a profit on this.

    2) If the government starts unloading all that stock, the price will plummet and they won't net $8 Billion. Also, think about the other investors... hell maybe even your own 401(k).

    3) Do we really want the government speculating with our tax dollars and that is in effect what they are doing.

    Those thoughts are just off the top of my head.

    Immie
     
  9. Mr. Peepers
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    Mr. Peepers Senior Member

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    I don't think it was speculation, but conditions of the loan. You always pay interest on a loan, no matter what it is for.
     
  10. kyzr
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    kyzr Gold Member

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    Your thinking is correct. Here are a few facts for the discussion:
    1. If CITI and a few of the other "too big to fail banks" were allowed to fail, the ultimate loser would have been the taxpayers. Every dollar of investor losses gets deducted from IRS taxes, yes EVERY DOLLAR. So by saving CITI, Bank of America, and Merrill Lynch the Feds did a great thing, they saved jobs and saved tax revenue both now and going forward.
    2.The government speculated with FANNIE & FREDDIE who went bankrupt. Investors lost Billions because of corruption.
    3. I'm on the fence about AIG, I hate their "derivatives" and massive debt, that one should be broken-up and strictly regulated.
    4. IMHO the only to fix the US economy is to develop it, no derivatives/options/or selling-short. The only investments alowed in the US are long stocks that provide capital and create jobs.
    5. I also like Obama's reining-in of fat-cat multi-million compensation packages. Obama should limit salaries & bonuses
    6. I also like Obama's going after the 55,000 numbered Swiss bank accounts who are tax-dodgers. We need that capital at work here in the US.
     

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