[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Steven Bonnell wants to murder Americans he disagrees with

What the fagots LGBTQ really means

I watched Charlie Kirk get assassinated. This is my experience.

Elon Musk Delivers Stunning Remarks At Historic UK March (Tommy Robinson)

"Transcript: Mrs. Erika Kirk Delivers Public Address: ‘His Movement Will Go On’"

"Victor Davis Hanson to Newsmax: Kirk Slaying Crosses Rubicon"

Rest In Peace Charlie Kirk

Charlotte train murder: Graphic video captures random fatal stabbing of young Ukrainian refugee

Berlin in July 1945 - Probably the best restored film material you'll watch from that time!

Ok this is Funny

Walking Through 1980s Los Angeles: The City That Reinvented Cool

THE ZOMBIES OF AMERICA

THE OLDEST PHOTOS OF NEW YORK YOU'VE NEVER SEEN

John Rich – Calling Out P. Diddy, TVA Scandal, and Joel Osteen | SRS #232

Capablanca Teaches Us The ONLY Chess Opening You'll Ever Need

"How Bruce Springsteen Fooled America"

How ancient Rome was excavated in Italy in the 1920s. Unique rare videos and photos.

Reagan JOKE On The Homeless

The Deleted Wisdom (1776 Report)

Sicko Transfaggots video

The Englund Gambit Checkmate

20 Minutes Of Black DC Residents Supporting Trump's Federal Takeover!

"Virginia Public Schools Deserve This Reckoning"

"'Pack the Bags, We're Going on a Guilt Trip'—the Secret to the Democrats' Success"

"Washington, D.C., Is a Disgrace"

"Trump Orders New 'Highly Accurate' Census Excluding Illegals"

what a freakin' insane asylum

Sorry, CNN, We're Not Going to Stop Talking About the Russian Collusion Hoax

"No Autopsy Can Restore the Democratic Party’s Viability"

RIP Ozzy

"Trump floats 'restriction' for Commanders if they fail to ditch nickname in favor of Redskins return"

"Virginia Governor’s Race Heats Up As Republican Winsome Sears Does a Hard Reboot of Her Campaign"

"We Hate Communism!!"

"Mamdani and the Democratic Schism"

"The 2nd Impeachment: Trump’s Popularity Still Scares Them to Death"

"President Badass"

"Jasmine Crockett's Train Wreck Interview Was a Disaster"

"How Israel Used Spies, Smuggled Drones and AI to Stun and Hobble Iran"

There hasn’T been ... a single updaTe To This siTe --- since I joined.

"This Is Not What Authoritarianism Looks Like"

America Erupts… ICE Raids Takeover The Streets

AC/DC- Riff Raff + Go Down [VH1 Uncut, July 5, 1996]

Why is Peter Schiff calling Bitcoin a ‘giant cult’ and how does this impact market sentiment?

Esso Your Butt Buddy Horseshit jacks off to that shit

"The Addled Activist Mind"

"Don’t Stop with Harvard"

"Does the Biden Cover-Up Have Two Layers?"

"Pete Rose, 'Shoeless' Joe Reinstated by MLB, Eligible for HOF"

"'Major Breakthrough': Here Are the Details on the China Trade Deal"

Freepers Still Love war


Status: Not Logged In; Sign In

Business
See other Business Articles

Title: Citigroup Bailout To Make US Taxpayers $12.3b Profit
Source: Guardian UK
URL Source: http://www.guardian.co.uk/business/ ... up-stake-sold-by-us-government
Published: Jan 26, 2011
Author: Guardian UK
Post Date: 2011-01-26 13:46:10 by Brian S
Keywords: None
Views: 164

US taxpayers are likely to make a $12.3bn (£7.75bn) total profit on their bailout of financial group Citigroup, according to government officials.

The US treasury expects to net $312.2m on Monday when it sells the rest of its stake in Citigroup. The government holds 465.1m warrants in Citi that entitle it to purchase common shares in the banking group.

The warrants, which it is auctioning, represent the remaining part of the US government's $45bn investment in Citi during the financial crisis.

Taxpayers are expected to end up with a $12.3bn profit on the bailout, made under the troubled asset relief programme (Tarp). The treasury sold its 34% stake of common shares of Citi last year.

"As we exit our investments in private companies and recover taxpayer dollars, it's clear that the cost of the Tarp programme will be a fraction of what many had once feared during the depths of the crisis," said Tim Massad, the treasury's acting assistant secretary for financial stability.

The Tarp bailout is proving to be less expensive to taxpayers than first feared. The US government made $13.5bn selling its stake in General Motors. Last week the government chose four Wall Street banks to sell its stake in American Insurance Group (AIG), recipient of $180bn in bailout funds. The sale could be the largest in US history. AIG has already paid back significant chunks of the debt.

The Citi announcement comes as Neil Barofsky, the special inspector general appointed to oversee Tarp, prepares to testify about the programme in Washington.

In his latest quarterly report, Barofsky said "on the financial side, Tarp's outlook has never been better. Not only did Tarp funds help head off a catastrophic financial collapse, but estimates of Tarp's ultimate direct financial cost to the taxpayer have fallen substantially," from $341bn in August 2009 to $25bn in November 2010.

But Barofsky is expected to sound a warning about future bailouts. His last report said the problem of institutions that are "too big to fail" is still unsolved. Barofsky said that US treasury secretary Tim Geithner told him that "in the future we may have to do exceptional things again" should the government face a financial crisis as severe as the 2008 one.

"The continued existence of institutions that are too big to fail — an undeniable byproduct of former [Treasury] secretary [Hank] Paulson and secretary Geithner's use of Tarp to assure the markets that during a time of crisis that they would not let such institutions fail — is a recipe for disaster," Barofsky said.

"These institutions and their leaders are incentivised to engage in precisely the sort of behaviour that could trigger the next financial crisis, thus perpetuating a doomsday cycle of booms, busts, and bailouts. Subscribe to *Obamanomics On Parade*

Post Comment   Private Reply   Ignore Thread  


[Home]  [Headlines]  [Latest Articles]  [Latest Comments]  [Post]  [Mail]  [Sign-in]  [Setup]  [Help]  [Register] 

Please report web page problems, questions and comments to webmaster@libertysflame.com