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The government mounted a vigorous defense Friday of its massive bank bailout, responding to an Associated Press analysis showing that stock in the program intended to eventually earn taxpayers a profit has lost about one-third of its value -- nearly $9 billion -- in barely one month....
Yeah, right, the WALL STREET LOOTING BILL was intended to EARN the TAXPAYER a PROFIT!! God, please STOP with the LYING!!!!
Shares in virtually every bank that received federal money have remained below the prices the government negotiated....
Translation: They GAVE AWAY YOUR MONEY -- just as they INTENDED!!!
The government... negotiated options to buy up to 1.2 billion shares of common bank stock that was valued at $27 billion to serve as a potential financial bonanza for taxpayers. Now, however, the value of that common stock is worth about $18 billion. If the government exercised all its warrants to purchase the stock today, it would lose money on 50 of its 53 agreements. Taxpayers would be out $8.6 billion....
You are going to be OUT a LOT MORE before this "crisis" is over, America. So WHEN you gonna DO SOMETHING ABOUT IT? How come OTHER PEOPLES around the planet (see Thais, Icelanders, etc) don't take this kind of s***?
Potential losses among these common stocks include nearly $3 billion for the administration's biggest deal, a $45 billion injection into Citigroup Inc.... Treasury Secretary Henry M. Paulson Jr. describes the cash infusion as ''an investment, not an expenditure.'' So far, however, only three of the 53 banks can be considered a good investment....
I just want that WORM Paulson to GO AWAY!!! What a scum he is!
''It's a complete mistake to think this is a good investment for us,'' said Paola Sapienza, a finance associate professor at Northwestern University's Kellogg School of Management, who spearheaded a September protest of the bailout by more than 200 of the nation's leading economists. ''It's a gamble. It's like going to Las Vegas.''
Yeah, guys who TALK like that and TELL the TRUTH either get the LAST PARAGRAPH of the piece (or none at all) or CUT OFF!
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