U.S. set to make $8 billion from bailing out Citi

Discussion in 'Current Events' started by Conspiracist, Mar 27, 2010.

  1. Conspiracist
    Offline

    Conspiracist Snuggle weather rocks!

    Joined:
    Jan 6, 2010
    Messages:
    3,058
    Thanks Received:
    504
    Trophy Points:
    48
    Location:
    Monkey Island
    Ratings:
    +505
    Positive step? Seems like it.

    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.

    U.S. set to make $8 billion from bailing out Citi - Washington Post- msnbc.com
     
  2. Oddball
    Offline

    Oddball BANNED Supporting Member

    Joined:
    Jan 3, 2009
    Messages:
    41,428
    Thanks Received:
    8,397
    Trophy Points:
    0
    Location:
    Drinking wine, eating cheese, catching rays
    Ratings:
    +8,409
    The bad news is that the feds will most likely spend the money, rather than taking it out of circulation to retire the debt it caused.
     
    • Thank You! Thank You! x 2
  3. Annie
    Offline

    Annie Diamond Member

    Joined:
    Nov 22, 2003
    Messages:
    50,847
    Thanks Received:
    4,644
    Trophy Points:
    1,790
    Ratings:
    +4,770
    Indeed. How many dollars are slushing out there?
     
  4. Conspiracist
    Offline

    Conspiracist Snuggle weather rocks!

    Joined:
    Jan 6, 2010
    Messages:
    3,058
    Thanks Received:
    504
    Trophy Points:
    48
    Location:
    Monkey Island
    Ratings:
    +505
    Quotes are from article in OP.

    Betting much more was wasted than responsibly invested, but it's nice to see a private company possibly regaining its own feet.
     
  5. CrusaderFrank
    Offline

    CrusaderFrank Diamond Member

    Joined:
    May 20, 2009
    Messages:
    81,248
    Thanks Received:
    14,915
    Trophy Points:
    2,210
    Ratings:
    +37,036
    Wake me up when they break even on Fannie and Freddie
     
  6. saveliberty
    Offline

    saveliberty Diamond Member

    Joined:
    Oct 12, 2009
    Messages:
    42,079
    Thanks Received:
    6,123
    Trophy Points:
    1,830
    Ratings:
    +20,014
    Good to see some of the money is coming back in. It is taxpayer money, so it would be nice if it went there or towards the deficit. I see GM is going to send back a billion too. Does anyone really expect all the money will be returned?
     
  7. Conspiracist
    Offline

    Conspiracist Snuggle weather rocks!

    Joined:
    Jan 6, 2010
    Messages:
    3,058
    Thanks Received:
    504
    Trophy Points:
    48
    Location:
    Monkey Island
    Ratings:
    +505
    No way! Anytime govt doles out dough, taxpayers get the shaft. It's just the way it is.
     

Share This Page