Taxpayers to benefit $8 billion from Citi Bank Bailout

[rightwinger]

washingtonpost.com

Among the banks that rule Wall Street, Citigroup got a bailout that was bigger than the rest. Now the company is about to pay a king's ransom for its federal rescue.

The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources. At today's prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds, and the transaction would be the second-largest stock sale in history.

On paper, the government's 27 percent stake has grown in value to $33 billion. The size of the deal in the works has Wall Street buzzing. Only the stock offering by Japan's Nippon Telegraph and Telephone, which raised $36.8 billion in 1987, was larger, according to Thomson Reuters.


Great News for the taxpayers.....I thought the Republicans said this was money down a rats nest

 

[Oddball]

Soooooo last week.

Betcha a dollar to a dog turd that Boyking will spend the money, rather than use it to retire the debt it created.

 

[CrusaderFrank]

How we making out on the Fannie and Freddy "investments", Andy Asswipe?

"Along the way, the government was forced to take control of the two firms, at a cost to taxpayers that has reached $125 billion so far."

http://www.reuters.com/article/idUSTRE62L4VF20100322

 

[Yurt]

its like investing 100 billion dollars in five companies and losing 92 billion but telling my wife, but i MADE 8 billion of this one company HONEY!!!!

 

[boedicca]

The deficit this year is forecasted to be nearly $2T. Millions of people are out of work.

And we're supposed to be happy that the government is profiting from bailing out Wall Street?

 

[Claudette]

Thought we borrowed that money from China???

Ya think mayby we should begin to pay it back?? You know at least make a dent in that monster of a deficit we have??

Oh wait. Barry will find SOMETHING to spend it on I'm sure.

 

[rightwinger]

its like investing 100 billion dollars in five companies and losing 92 billion but telling my wife, but i MADE 8 billion of this one company HONEY!!!!

Not quite my friend...

We invested $25 billion in Citi Bank and saw a return of $33 Billion a return on investment of 32%.

Even your wife would be pleased

TARP bailouts are proving to be money well invested. Not only did they reverse a Wall Street panic, but they prevented a collapse of our financial sector. Now they are even showing a profit

 

[CrusaderFrank]

its like investing 100 billion dollars in five companies and losing 92 billion but telling my wife, but i MADE 8 billion of this one company HONEY!!!!

Not quite my friend...

We invested $25 billion in Citi Bank and saw a return of $33 Billion a return on investment of 32%.

Even your wife would be pleased

TARP bailouts are proving to be money well invested. Not only did they reverse a Wall Street panic, but they prevented a collapse of our financial sector. Now they are even showing a profit

We only need 15 deals just like that to breakeven on Fannie and Freddie and only 200 to breakeven on Obama's record setting one year deficit!

 

[FireFly]

What big bank is not turning big profits by borrowing fed money a 0% & lending it to the unrestrained $13 Trillion federal government debt at 3.5%. It is a no brainier. This is why the bank CEOs are making millions more than ever before & kicking donations to the Obama campaign.

No corruption, Move along, Nothing to see here.

BTW we will loose more than $400 Billion on Fannie & Freddie before it is all over thanks to the Democrats Utopian idea of affirmative action lending. Trillions in damage to the economy.

Rightwinger needs to shove Bwarney Fwanks member back in mouth because the crap is leaking out of his head & all over the USMB.

 

[rightwinger]

its like investing 100 billion dollars in five companies and losing 92 billion but telling my wife, but i MADE 8 billion of this one company HONEY!!!!

Not quite my friend...

We invested $25 billion in Citi Bank and saw a return of $33 Billion a return on investment of 32%.

Even your wife would be pleased

TARP bailouts are proving to be money well invested. Not only did they reverse a Wall Street panic, but they prevented a collapse of our financial sector. Now they are even showing a profit

We only need 15 deals just like that to breakeven on Fannie and Freddie and only 200 to breakeven on Obama's record setting one year deficit!

It is a shame that President George Bush allowed Fannie and Freddie to be deregulated and collapse under his watch. But that was Bush....his party paid the price for his inept handling of the economy

 

[boedicca]

Scuze me...but Bush proposed increasing the capital requirements of Fannie Mae and Freddie Mac to improve their solvency. Barney Frank led the Dems to block it.

On September 10, 2003, the Bush Administration recommended the most significant regulatory overhaul in the housing finance industry since the savings and loan crisis. Under the plan, a new agency would be created within the Treasury Department to assume supervision of Fannie Mae. The new agency would have the authority, which now rests with Congress, to set capital-reserve requirements for the company and to determine whether the company is adequately managing the risks of its portfolios. The New York Times reported that the plan is an acknowledgment by the administration that oversight of Fannie Mae and Freddie Mac is broken. The Times also reported Democratic opposition to Bush's plan: "These two entities -- Fannie Mae and Freddie Mac -- are not facing any kind of financial crisis," said Representative Barney Frank of Massachusetts, the ranking Democrat on the Financial Services Committee. "The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing."

Fannie Mae - Wikipedia, the free encyclopedia


It wouldn't hurt you to actually check some facts once in awhile.

 

[CrusaderFrank]

Not quite my friend...

We invested $25 billion in Citi Bank and saw a return of $33 Billion a return on investment of 32%.

Even your wife would be pleased

TARP bailouts are proving to be money well invested. Not only did they reverse a Wall Street panic, but they prevented a collapse of our financial sector. Now they are even showing a profit

We only need 15 deals just like that to breakeven on Fannie and Freddie and only 200 to breakeven on Obama's record setting one year deficit!

It is a shame that President George Bush allowed Fannie and Freddie to be deregulated and collapse under his watch. But that was Bush....his party paid the price for his inept handling of the economy

You're lying again, Andy Asswipe

"These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis," -- Barney Frank (D)

 

[DiamondDave]

The government is not supposed to be playing investment and power games with our tax revenues and public monies... it was wrong in the first place for them to do this, regardless on whether they turned some alleged profit

 

[hboats]

washingtonpost.com

Among the banks that rule Wall Street, Citigroup got a bailout that was bigger than the rest. Now the company is about to pay a king's ransom for its federal rescue.

The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources. At today's prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds, and the transaction would be the second-largest stock sale in history.

On paper, the government's 27 percent stake has grown in value to $33 billion. The size of the deal in the works has Wall Street buzzing. Only the stock offering by Japan's Nippon Telegraph and Telephone, which raised $36.8 billion in 1987, was larger, according to Thomson Reuters.


Great News for the taxpayers.....I thought the Republicans said this was money down a rats nest

But, I thought all you liberals said that Obama didn't "own" any banks or car companies? So, if that's true, how can he sell off 27% of something he never owned?

Rick

 

[hboats]

Not quite my friend...

We invested $25 billion in Citi Bank and saw a return of $33 Billion a return on investment of 32%.

Even your wife would be pleased

TARP bailouts are proving to be money well invested. Not only did they reverse a Wall Street panic, but they prevented a collapse of our financial sector. Now they are even showing a profit

We only need 15 deals just like that to breakeven on Fannie and Freddie and only 200 to breakeven on Obama's record setting one year deficit!

It is a shame that President George Bush allowed Fannie and Freddie to be deregulated and collapse under his watch. But that was Bush....his party paid the price for his inept handling of the economy

Are you really this stupid? Or just brainwashed? You really think that Bush did this? People like you never cease to amaze me in their stupidity.

Rick

 

[rightwinger]

We only need 15 deals just like that to breakeven on Fannie and Freddie and only 200 to breakeven on Obama's record setting one year deficit!

It is a shame that President George Bush allowed Fannie and Freddie to be deregulated and collapse under his watch. But that was Bush....his party paid the price for his inept handling of the economy

You're lying again, Andy Asswipe

"These two entities—Fannie Mae and Freddie Mac—are not facing any kind of financial crisis," -- Barney Frank (D)

"The Buck Stops Here" -- Harry Truman

George Bush was President, not a minority party rep. Why don't you tell all the nice people that Frank said that 5 years before the collapse......and yes...Bush was President and the GOP ran Congress

 

[Dr.House]

We only need 15 deals just like that to breakeven on Fannie and Freddie and only 200 to breakeven on Obama's record setting one year deficit!

It is a shame that President George Bush allowed Fannie and Freddie to be deregulated and collapse under his watch. But that was Bush....his party paid the price for his inept handling of the economy

Are you really this stupid? Or just brainwashed? You really think that Bush did this? People like you never cease to amaze me in their stupidity.

Rick

Some folks on the left never see the mistakes their side makes...

Makes it easier to cheerlead for the team....

 

[rightwinger]

We only need 15 deals just like that to breakeven on Fannie and Freddie and only 200 to breakeven on Obama's record setting one year deficit!

It is a shame that President George Bush allowed Fannie and Freddie to be deregulated and collapse under his watch. But that was Bush....his party paid the price for his inept handling of the economy

Are you really this stupid? Or just brainwashed? You really think that Bush did this? People like you never cease to amaze me in their stupidity.

Rick

I believe it as much as Frankie believes that "that homosexual" Barney Frank was running the government

 

[G.T.]

I like how the issue of Obama raising the deficit so much in his first year is such a talking point, when the elephant in the room is actually adding the War(s) to the budget.

 

[hboats]

I like how the issue of Obama raising the deficit so much in his first year is such a talking point, when the elephant in the room is actually adding the War(s) to the budget.

Wars have NEVER been a budgetary issue. Why should they be now?

Rick