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Things are looking good for getting bailout money back

Original post made by a reader, Another Pleasanton neighborhood, 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)

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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.

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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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