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

[Conspiracist]

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

 

[Oddball]

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.

 

[Annie]

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.

Indeed. How many dollars are slushing out there?

 

[Conspiracist]

The true cost of rescuing the financial system, however, is not yet known. Senior Treasury officials have said that they expect the ultimate cost of TARP to be less than $100 billion. Besides TARP programs, mortgage financiers Fannie Mae and Freddie Mac have received more than $125 billion in federal aid. There is no indication that either firm will be able to repay the government anytime soon.

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.

 

[CrusaderFrank]

Wake me up when they break even on Fannie and Freddie

 

[saveliberty]

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?

 

[Conspiracist]

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?

No way! Anytime govt doles out dough, taxpayers get the shaft. It's just the way it is.