"The firm is paying about 98 percent of the warrants’ value.... Goldman Sachs agreed to pay the full amount sought by Treasury for its warrants."
Related: Banks Begin Repaying Taxpayers
Taxpayers Seeing Return on TARP
Taxpayers Already Down $78 Billion Over Bailout
Slow Saturday Special: State Street Warrants Redux
The TARP Has a $159 Billion Loss
Slow Saturday Special: Treasury Dumps American Taxpayers
Slow Saturday Special: Suffering Banks
Boston Globe Declares Recession Over
The $24 TRILLION Dollar Question
The Galling Greed of Goldman Sachs
Banker's Slush Fund
Yeah, you made out big time, American taxpayer. That's why your 401k is still s***!
"US reaps windfall in firm’s bailout; Goldman Sachs repayment yields a 23% return" by Christine Harper, Bloomberg News | July 23, 2009
NEW YORK - Goldman Sachs Group Inc.’s repayments to the government of last year’s bailout money, including an agreement yesterday to repay warrants, generated a 23 percent annualized return for US taxpayers.
Goldman Sachs agreed to the Treasury’s request for $1.1 billion to repay warrants the government received when it invested $10 billion in the New York-based firm last October. The payment is in addition to $318 million in preferred dividends.
That doesn't add up, does it?
The company’s warrant transaction “was the best deal for taxpayers yet,’’ said Linus Wilson, a finance professor at the University of Louisiana at Lafayette.
I guess you guys think we will believe any turd you toss on the plate, huh?
The firm is paying about 98 percent of the warrants’ value. By contrast, he estimates that BB&T Corp. and US Bancorp have struck deals with Treasury to pay less than 60 percent of the value of their warrants. Unlike JPMorgan Chase & Co., the second-biggest US bank by assets, Goldman Sachs agreed to pay the full amount sought by Treasury for its warrants.
Goldman Sachs could have issued additional common shares to cancel half of its warrants. “They didn’t want to do that for political reasons,’’ Wilson said. “They didn’t want to drag this process out from a public relations standpoint.’’
Translation: the greedy pigs didn't want to feed the flames of public anger after ripping us off.
Goldman Sachs was one of the first nine banks to receive capital from then-Treasury Secretary Henry Paulson in October as the government tried to stabilize the financial system.
Related: Paulson Perjures Himself
Last month, Goldman Sachs returned its $10 billion, as did rivals including JPMorgan Chase and Morgan Stanley, enabling the banks to shed restrictions on bonus payments to employees.
Yeah, that's why they kicked back some of the loot -- among other reasons (see links at top of post).
The 23 percent annualized return to taxpayers “is reflective of the government’s assistance, which benefited the financial system, our firm, and our shareholders,’’ chief executive Lloyd Blankfein, 54, said in a statement. “We are grateful for the government efforts.’’
Yeah, I'll bet you stink Jew!
Related: Bailout Went For Bank Execs Bonuses
The Miraculous Turnaround of AmeriKa's Banks
Last week, Goldman Sachs said it earned a record $3.44 billion in the second quarter and disclosed that it had set aside $11.4 billion to pay salaries, bonuses, and benefits in the first six months of the year....
Yeah, except it is $18 billion!!
