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Thread: US to make profit from bailouts

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    US to make profit from bailouts

    The US will make a profit from bailing out the nation's banks and car makers at the height of the financial crisis, the Treasury Department has said. The bank bailouts may result in a return of $2bn (£1.3bn), the Treasury said in its latest projections for the government's response to the crisis. And the recovering auto industry has added 230,000 jobs as a result.

    The recession was the worst since the Great Depression and $19.2tn of wealth was wiped out, it said. "Although the economy is getting stronger, we have a long way to go to fully repair the damage the crisis has left behind," the Treasury said.

    The vast majority of the projected returns - more than $179bn - come from the Federal Reserve's huge investments and loans to banks. The Fed and the Treasury together invested $182bn just to save insurance giant AIG. In terms of the bank bailouts, the much-maligned Troubled Asset Relief Program (Tarp) that provided money to more than 700 banks has already realized a $19bn profit.
    BBC News - US to make profit from bailouts, Treasury says

    This is a feather in both GWB and Obama's caps.
    Last edited by Frolicking Dinosaurs; 04-15-12 at 04:55 PM.
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    Re: US to make profit from bailouts

    Thus proving the old adage: You have to have money to make money.

    "Son, I don't have a money tree in the back yard". "Yes you do daddy". "You work for the Treasury Department".

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    Re: US to make profit from bailouts

    FactCheck.org : General Motors’ Debt

    As for Treasury’s equity stake, worth $40 billion-plus, the nonpartisan Congressional Budget Office has said the Treasury won’t fully recoup that money. The total automaker bailout, including TARP money given to Chrysler, CBO estimates, will cost taxpayers about $34 billion.
    What is happening is Treasury is not counting the investment that was turned into stock within the company. Without some more infomartion like the actual balance sheets from both Treasury and Chrysler, I dunno.

    Im not as versant in the TARP bailout capital and following the money so I dont know how factual those statements are.

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    Re: US to make profit from bailouts

    Even if true, the bailouts are inexcusable.

    There is no doubt that the government could make business deals. Like in the market, some are successful and some aren't.

    Yet do we have a government for the purpose of being a business with taxpayers as the stockholders?
    "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell

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    Re: US to make profit from bailouts

    If this is such a great money-making proposition, why didn't we bail out Kodak this year?

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    Re: US to make profit from bailouts

    Quote Originally Posted by Bigfoot 88 View Post
    Even if true, the bailouts are inexcusable.

    There is no doubt that the government could make business deals. Like in the market, some are successful and some aren't.

    Yet do we have a government for the purpose of being a business with taxpayers as the stockholders?
    No, we have a government for the purpose of helping to ensure we have a safe country with a stable economy.

    Quote Originally Posted by PerfectStorm View Post
    If this is such a great money-making proposition, why didn't we bail out Kodak this year?
    Because it's a different company in a different industry with different circumstances and a different economic situation, maybe?
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
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    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: US to make profit from bailouts

    Quote Originally Posted by PerfectStorm View Post
    If this is such a great money-making proposition, why didn't we bail out Kodak this year?
    Kodak's importance to the economy on a large scale is miniscule.

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    Re: US to make profit from bailouts

    Quote Originally Posted by Hare View Post
    Kodak's importance to the economy on a large scale is miniscule.
    Kodak is dying of natural causes. There isn't much money in film or film processing these days. OTOH, it's still pretty important to have a banking system.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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    Re: US to make profit from bailouts

    ... listens to GOP policy writers heads explode....
    PeteEU

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    Re: US to make profit from bailouts

    Quote Originally Posted by Hare View Post
    Kodak's importance to the economy on a large scale is miniscule.
    So what's your excuse for Solyndra?

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