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Gov't: Taxpayers make $12B on Citigroup bailout

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posted on Dec, 7 2010 @ 01:49 AM

WASHINGTON – After all is said and done, taxpayers will make a $12 billion profit on the government's $45 billion bailout of Citigroup.

The Treasury Department said late Monday that it had struck a deal to sell its remaining holdings in Citigroup common stock, about 2.4 billion shares. With the proceeds of the sale, priced at $4.35 a share, the government will have realized $57 billion on its bailout package for the big bank.

"By selling all the remaining Citigroup shares today, we had an opportunity to lock in substantial profits for the taxpayer and avoid future risk," said Tim Massad, the Treasury official who heads up the bailout program.

I guess this would be called a success by some? How long until we can cash in on that $12 billion? Will we ever see it?

The article says this wont be completely done until friday, so I would think theres a possibility that something else could come up in this. Maybe more money, or less money? Im not really sure yet. Just have to wait until friday to see.

posted on Dec, 7 2010 @ 01:55 AM
big questions here:

WHOSE money bought those stocks???

and will that 12B be equally distributed
300M ways?

which branch can I deduct my earnings
of $40.00 ???

edit on 12/7/2010 by boondock-saint because: (no reason given)

posted on Dec, 7 2010 @ 02:17 AM
At this point, I just really don't believe them. Basically any time they open their mouth nothing comes out but lies so I can't in good conscious believe anything they say without some hard evidence.

Show me the financials of all the transactions occurring that are related to the matter. Funny that ATS posts are held to higher accountability than the American government.

posted on Dec, 7 2010 @ 02:32 AM
reply to post by buni11687

Yeah, we really made out on that deal....

The bailout package cost 7 trillion, here we made 15 billion, that's
A whoppin' 2-tenths of one percent!

Should have invested in silver!

edit on 7-12-2010 by masterofnone because: typo

posted on Dec, 7 2010 @ 03:40 AM
reply to post by buni11687

Imagine that... 12,000,000,000 pieces of paper pouring out of the Federal Reserve's printing press... I'm not impressed. Could the taxpayers get that in gold instead (or maybe to help the Crash JPM- in silver).

This evidences the business of government. When government is involved in business ownership, isn't that a core definition of Socialism/Communism?

One can certainly make the claim that the US Government (aka the International Criminal Syndicate) is not an owner of an investment brokerage, but itself is the broker. True enough. Does that mean that the business activities of the (former) US Govt are required to adhere to common business practices? Have they indeed?

In any case, it's good to see that the dart hit the board in at least one single circumstance where the Syndicate has turned a profit. Very dissimilar to Amtrak, the USPS, Socialist Security, etc. I was beginning to think that the Syndicate just had terrible luck at the roulette wheel. Good news!

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