Taxpayers to benefit $8 billion from Citi Bank Bailout

Discussion in 'Politics' started by rightwinger, Mar 30, 2010.

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

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    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
     
  2. Oddball
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    Oddball BANNED Supporting Member

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    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.
     
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  3. CrusaderFrank
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    CrusaderFrank Diamond Member

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    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
     
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  4. Yurt
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    Yurt Gold Member

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    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!!!!
     
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  5. boedicca
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    boedicca Uppity Water Nymph Supporting Member

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    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?
     
  6. Claudette
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    Claudette Gold Member

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    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.
     
    Last edited: Mar 30, 2010
  7. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    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
     
    Last edited: Mar 30, 2010
  8. CrusaderFrank
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    CrusaderFrank Diamond Member

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    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!
     
  9. FireFly
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    FireFly Bright F**ker

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

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    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
     

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