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Things are looking good for getting bailout money back

Original post made by a reader on Nov 2, 2009

"CIT Group is the first big bailout loss for taxpayers, but it won't be the last. "

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Time for a tea party?

Comments (2)

Posted by Patti, a resident of Another Pleasanton neighborhood
on Nov 2, 2009 at 12:48 pm

Wait until you see the financials coming out of Government Motors. I bet they have already gone through 60% of the money they were given by us. It does not really matter because even if the money goes back to the government they will just dump it into something else.


Posted by Stay Cool, a resident of Another Pleasanton neighborhood
on Nov 2, 2009 at 1:18 pm

Stay Cool is a registered user.

Just a little reality check - this is from back in March:
*****emphasis mine*****
"The Obama administration marked with little fanfare a major milestone in its bank rescue effort — its decision on Tuesday to let 10 big banks repay federal aid that had ******sustained them through the worst of the crisis****** — as policy makers and industry executives focused on the challenges still before them."
"Taxpayers — many of whom probably never imagined that banks would return their bailout money so soon, if ever —*******stand to make several billion dollars from their investment in the 10 banks. So far, the Treasury has collected about $1.8 billion in interest payments. It also might reap as much as $4.6 billion as the banks seek to expunge other government investments, known as warrants.******"
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Of course the bailouts were awful. I am all for tighter regulation so we don't get into this mess again. But wait, we can't do that either!


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