Remember before the go-go days of lax regulations when a huge company could go years in the red before coming into the black again?
Well, we're not even out of the "biggest recession since the great depression" and we're already seeing these companies we bailed out post huge profits.
Today it was AIG. They had a profit this quarter of $1.8 billion. Thanks to some accounting rule changes, oh, and I guess that bailout.
As the biggest shareholder of AIG, the government gets $1.5 billion of that. Well, at least we get it until Geithner comes up with an excuse it give it back to them.
So at four quarters per year, isn't that like 25+ years until we recoup our initial investment, without the interest we'll pay on that money we borrowed as taxpayers in the first place?
Well, we're not even out of the "biggest recession since the great depression" and we're already seeing these companies we bailed out post huge profits.
Today it was AIG. They had a profit this quarter of $1.8 billion. Thanks to some accounting rule changes, oh, and I guess that bailout.
As the biggest shareholder of AIG, the government gets $1.5 billion of that. Well, at least we get it until Geithner comes up with an excuse it give it back to them.
So at four quarters per year, isn't that like 25+ years until we recoup our initial investment, without the interest we'll pay on that money we borrowed as taxpayers in the first place?
Comment