U.S. to make $8 bil profit from bailing out Citi

[GatorB]

Among the banks that rule Wall Street, Citigroup got a bailout that was bigger than the rest. Now the company is about to pay a king's ransom for its federal rescue.

The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources.

At today's prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds and the transaction would be the second-largest stock sale in history.


http://www.msnbc.msn.com/id/36062775...shington_post/

[cybermike]

Only problem is how to sell those shares.. if you dump them all at the same time its going to kill the stock price

[directfiesta]

That cannot be true

Anything that Barack Hussein Osama does is a catastrophe ....

Must be extreme left wing media... checking the fair & balanced one now!

[The Demon]

Among the banks that rule Wall Street, Citigroup got a bailout that was bigger than the rest. Now the company is about to pay a king's ransom for its federal rescue.

The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources.

At today's prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds and the transaction would be the second-largest stock sale in history.


http://www.msnbc.msn.com/id/36062775...shington_post/

Ah yes, another bailout. Way to go Obama ROFL. Then again, anything reported on MSNBC and CNN is truth, while Foxnews is right wing propaganda. Too funny

Btw, it's funny how everyone was bitching about the bailouts when they were initiated by Bush, but Obama initiated one and it's great! Gotta love the morons..

[EscortBiz]

well by the time they are done paying the capital gains tax they will be left with 4bil

lol

[LiveDose]

When are we getting our money back from Fannie Mae and Freddie Mac?

[The Demon]

well by the time they are done paying the capital gains tax they will be left with 4bil

lol

This just teaches you that if your company fails, the government will bail you out. If you can't pay for insurance, the government will bail you out. Gotta love the dumbing down of American society the past 40-50 years.

[POed-poster]

Ah yes, another bailout. Way to go Obama ROFL. Then again, anything reported on MSNBC and CNN is truth, while Foxnews is right wing propaganda. Too funny

Btw, it's funny how everyone was bitching about the bailouts when they were initiated by Bush, but Obama initiated one and it's great! Gotta love the morons..

Jesus Christ, you're a fucking idiot!

[GatorB]

Ah yes, another bailout. Way to go Obama ROFL. Then again, anything reported on MSNBC and CNN is truth, while Foxnews is right wing propaganda. Too funny

Btw, it's funny how everyone was bitching about the bailouts when they were initiated by Bush, but Obama initiated one and it's great! Gotta love the morons..

Who is the moron? YOU. Not only did we get the money back we gave to Citi we will also make $8 bil PROFIT. Which part of that is too hard for your brain to understand?

[GatorB]

This just teaches you that if your company fails, the government will bail you out. If you can't pay for insurance, the government will bail you out. Gotta love the dumbing down of American society the past 40-50 years.

Yeah getting paid back 100% then making another $8 billion PROFIT absolutely sucks.

[POed-poster]

This just teaches you that if your company fails, the government will bail you out. If you can't pay for insurance, the government will bail you out. Gotta love the dumbing down of American society the past 40-50 years.

Yes, we know well that conservative retards like you yearn for the good old (boy) days.

[BlackCrayon]

This just teaches you that if your company fails, the government will bail you out. If you can't pay for insurance, the government will bail you out. Gotta love the dumbing down of American society the past 40-50 years.

ideally the only times a company should be bailed out is if letting it fail will fuck over tens of thousands of innocent consumers.

[POed-poster]

Who is the moron? YOU. Not only did we get the money back we gave to Citi we will also make $8 bil PROFIT. Which part of that is too hard for your brain to understand?

You are talking to a retard. Remember, you can't argue with STUPID!

[The Demon]

Who is the moron? YOU. Not only did we get the money back we gave to Citi we will also make $8 bil PROFIT. Which part of that is too hard for your brain to understand?

Haha, gotta love the morons known as GatorB and Poed.

[The Demon]

ideally the only times a company should be bailed out is if letting it fail will fuck over tens of thousands of innocent consumers.

I disagree crayon. A company should never be bailed out. If it fails, it fails and something new rises..

[The Demon]

You are talking to a retard. Remember, you can't argue with STUPID!

Which is why you're the dumbest, most clinically insane person on this forum.

[cykoe6]

U.S. to make $8 bil profit from bailing out Citi

That sounds like good news to me.

[POed-poster]

ideally the only times a company should be bailed out is if letting it fail will fuck over tens of thousands of innocent consumers.

I have to admit that I wasn't all that happy with the bailouts. Individuals who lost their homes and jobs because of the economy got no help whatsoever from the government, but corporations who caused all this shit got billions. Half of Wallstreet belongs in prison. The other half belongs at the bottom of the pond with the rest of the pond scum.

[POed-poster]

Which is why you're the dumbest, most clinically insane person on this forum.

Says the guy who believes in invisible ghosts in the sky and takes his info from Rush.

I got news for you. You ain't never gonna be no lawyer, dumass!

[BlackCrayon]

I disagree crayon. A company should never be bailed out. If it fails, it fails and something new rises..

And how many thousands would claim bankruptcy as a result? it not their customers fault that the company was involved in risky investing yet they are the ones who pay the ultimate price.

[LiveDose]

Yes, we know well that conservative retards like you yearn for the good old (boy) days.

Don't forget about this liberal pig:

[IllTestYourGirls]

So I should expect a check in the mail?

[The Demon]

And how many thousands would claim bankruptcy as a result? it not their customers fault that the company was involved in risky investing yet they are the ones who pay the ultimate price.

It's a double edged sword, but the message should be clear. You fuck up, you fail. That's how economics should work. For instance, when I pick stocks to put in my portfolio, I make sure to do as much research as I can on the management. If I don't do my research and the stock goes under due to a company failing or what not, I have myself to blame. At this rate, we can all fuck up and expect the government to bail us out.

[POed-poster]

For instance, when I pick stocks to put in my portfolio, I make sure to do as much research as I can on the management.

You don't know what the fuck you are doing.

[The Demon]

You don't know what the fuck you are doing.

Sure thing mental patient #192853. Please remember to take your medication before you go on your usual anti religious crusade.

[seeandsee]

Among the banks that rule Wall Street, Citigroup got a bailout that was bigger than the rest. Now the company is about to pay a king's ransom for its federal rescue.

The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources.

At today's prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds and the transaction would be the second-largest stock sale in history.


http://www.msnbc.msn.com/id/36062775...shington_post/

time for tube cities

[GatorB]

At this rate, we can all fuck up and expect the government to bail us out.

As long the government gets paid back plus 18% like Citi I don't see an issue.

[gideongallery]

During the height of the financial crisis in October and November of 2008, Citigroup got more than $45 billion in federal aid in exchange for preferred shares. The government later restructured that package. Officials converted $20 billion into a loan, and the remaining $25 billion was converted in September into common stock at the price of $3.25 a share.

Citigroup was the only bank that gave common shares to the government, because the firm was in worse shape than its rivals and couldn't promise to repay its aid entirely in cash.

no other bank bail out followed this plan and the only reason this bank was covered was because it was a crapshoot that they would survive.

it luckly panned out but it just as easily could have resulted in this bank going belly up and the government lossing it 45 billion

8 billion on a 45 billion bet is not as great a return as you think it is.

And it amazing how democrats are going to point to this as proof that the bail out work, especially when you consider that in every other case the government lost money because they covered the carrying cost of the loans and basically only got their money back.

[MRock]

By issuing stock and giving it to the government last year, Citigroup had diluted the value of stock held by existing shareholders.

[will76]

Who is the moron? YOU. Not only did we get the money back we gave to Citi we will also make $8 bil PROFIT. Which part of that is too hard for your brain to understand?

like most people with strong views, he heard one word "bail out" and jumped to conlusions and didn't read the rest of the thread. Happens all the time with people who have strong political views on both sides.

[teomaxxx]

As long the government gets paid back plus 18% like Citi I don't see an issue.

wait for the price when they will be selling Citi. Whoever with clear mind should be selling Citi asap. you dont sell $30 billion worth of stock with price of the stock going up....but Citi stock actually jumped on day they annouced intention to sell the stock....

[teomaxxx]

As long the government gets paid back plus 18% like Citi I don't see an issue.

also forgot to add:

"And what about the $350 Billion the Fed made in guarantees on Citi's assets? Let's see the auditing on that!"

[IllTestYourGirls]

Yeah getting paid back 100% then making another $8 billion PROFIT absolutely sucks.

Well at least you admit you don't mind fascism.

[Robbie]

8 Billion! Cool! And the Afghan war is currently costing 2.5 Billion every month. And that doesn't count the Iraq war and the fact that we STILL occupy Germany and Japan 60 years after WW2. Or the 70+ other countries that we have troops stationed in.

Hell if you added up all of that shit, that 8 billion is probably gone in less than a week.
I wonder what history will say about us in the future?

[The Demon]

They'd probably compare it to the Fab Five of Michigan in the early 90s. Incredible potential, all the talent in the world, but a huge disappointment in the end.

[Barefootsies]

That cannot be true

Anything that Barack Hussein Osama does is a catastrophe ....

Must be extreme left wing media... checking the fair & balanced one now!

[Rangermoore]

Among the banks that rule Wall Street, Citigroup got a bailout that was bigger than the rest. Now the company is about to pay a king's ransom for its federal rescue.

The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources.

At today's prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds and the transaction would be the second-largest stock sale in history.


http://www.msnbc.msn.com/id/36062775...shington_post/

So when will I get my share of the profit? They used some of my money to make it, I should get some of the profits from it...Our tax dollars..

[Rangermoore]

8 Billion! Cool! And the Afghan war is currently costing 2.5 Billion every month. And that doesn't count the Iraq war and the fact that we STILL occupy Germany and Japan 60 years after WW2. Or the 70+ other countries that we have troops stationed in.

Hell if you added up all of that shit, that 8 billion is probably gone in less than a week.
I wonder what history will say about us in the future?

Are you anti military? Just asking...

[fatfoo]

$8 Billion profit. Unbelievable.

Looks like the Obama administration made a good investment.

[xmas13]

$8 Billion profit. Unbelievable.

Looks like the Obama administration made a good investment.

http://news.yahoo.com/s/ap/20100305/...get_deficits_3

Projected deficit is approx. $10,000 billion, to put things back in perspective.

[The Demon]

It sets a bad precedent. "You can mess up but don't worry, we will bail you out."

[IllTestYourGirls]

We found it! His stash!