Man, is the Amerikan MSM shit stream ever thick these days.
More like a river....
"US sees 7.4% return on $45b Citigroup rescue" by Bloomberg News | June 13, 2009
NEW YORK - US taxpayers have reaped a 7.4 percent return on the $45 billion used to rescue Citigroup Inc., almost three times as much as if the money had been invested in the Standard & Poor's 500 Index.
The return since the government first purchased a stake in the bank on Oct. 28, which includes dividends, compares with 2.6 percent for the S&P 500 on that basis. The government pumped $25 billion in rescue funds into the New York-based bank in October and another $20 billion a month later. Returns have also been boosted by the tripling of the stock price since March.
Oh, the sock went up, blah, blah, blah!
--more--"
Yeah, we've Madoff, 'er, made out on this deal!
Oh, wait, make that $76:
"Besides the money they’re returning, the banks have paid Treasury more than $2 billion in dividends."
Yeah, you MADE MONEY off this deal, taxpayers!!!
Of course, they CLOSED and TOOK OVER MORE BANKS (who do you think is taking the losses; remember, 'murkn, in this case when they say "government" they mean TAXPAYERS!
At any other time, it is the SPECIAL INTERESTS that are BUCKING the WILL of the American people!!!!
"2009 bank-failure tally rises to 40" by Bloomberg News | June 22, 2009
WASHINGTON - Banks in North Carolina, Georgia, and Kansas with combined assets of $1.5 billion were seized by regulators last week, costing the US insurance fund $363 million and pushing this year’s tally of failures to 40....
Related: U.S. Taxpayers To Bailout Themselves
Gee, that was a while ago.
Try these: FDIC Preparing For Massive Bank Failures
Small Bank Bailout of Wall Street Halved
The acquiring banks are assuming a combined $1.47 billion in assets, mostly loans, and signed agreements with the FDIC to share more than 80 percent losses with the government.
Oh, ISN'T THAT NICE of 'em! SHARING at LAST!!!!!!!!
“The loss-sharing arrangement is projected to maximize returns on the assets covered by keeping them in the private sector,’’ the FDIC said. “The agreement also is expected to minimize disruptions for loan customers.’’
Oh, so the SAME LOSER BANKS are going to end up BENEFITING in the REEVALUATIONS?
See: Toxic Assets Toxic For Taxpayers Only
This stuff is making me sick.
Banks are nothing but a criminal racket, a transfer of wealth into already-rich pockets and a basis of capital for whatever THEY want to USE IT FOR -- that's what your "deposits" are, 'murka!!!
If THEY were TRULY INTERESTED in you they would have let you STAY in your HOUSE -- and the paper WOULDN'T CENSOR and REWRITE such information!
Regulators this year have closed the most banks since 1993 as a loss of 6 million jobs since the recession began contributes to mounting home foreclosures and loan delinquencies. The US economy contracted at a 5.7 percent annual pace in the first quarter. More than a quarter of all states have unemployment rates higher than 10 percent....
Notice they DON'T TELL YOU WHEN AGAIN as well as SLIPPING in the MILLIONS of JOBS LOST while THEY LIE (see: here w/earmuffs) and CROW about HUNDREDS!!!!
--more--"
Do you see why I rage and rail!
That's all I'm doing, power structure -- pleading with you to hear with deaf ears!
