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Treasury Predicts Profit of $10-100B from Bailouts

posted 4/14/2012 6:19:17 AM |
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  ManAlive47

The Treasury Dept. announced yesterday that they expect to make a profit of as much as $10-100 billion from the bailout programs initiated back in 2008.

Treasury Predicts Profit from Financial Crisis

We already know GM paid off its loans last year and record world wide auto sales are expected this year.

The Troubled Asset Relief Program (TARP), which has been perhaps the most controversial economic policy of both the Bush and Obama administrations helped spawn the Tea Party movement.

Taxpayers to make money on TARP





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Comments:
sloriver

Apr 14 @ 9:10AM  
It's interesting that one of the chief opponents of the bailouts is going to be the Republican candidate for president. How the hell will we ever get rid of Obama with Wrong Way Romney?
bardnsage

Apr 14 @ 9:44AM  
I'm not taking issue with your statement,,, just a point,,,

I"D LOVE TO SEE THE ACTUAL LINE ITEMS.

Because government has a very strange definition of profit.

And I don't know about your business,,, but I can usually get closer to my profit projections,,, than a range of 10 times the number.... or 10 to the 2.... or in this case,,, $90,000,000,000 dollars.

Is it no wonder that our government is damn near bankrupt,,,,
with such magical, wonderful, business people in place who can't narrow a number down any closer than $90,000,000,000 dollars.

A billion seconds,,, is 31 years. 90,000,000,000 seconds is 2790 years,,, and I think before the birth of Christ.

A billion hours,,,, and THERE WAS NO MAN ON THE EARTH. Multiply that by 90.

These "SMARTEST PEOPLE IN THE WORLD",, to whom we pay very nice salaries,,,,,,, CAN"T get it into the ball park just a little more than that.

I tell you what,,, we need a woman president. To hell with this white man, black man bullshit..... we need a woman. I've watch 5 women damn near break out slide rules just deciding who pays what part of 15% tip at lunch.

THEY KNOW WHERE EVERY FVCKING PENNY IS,,, WHERE EVERY FVCKING GOES,,, AND WHERE EVERY FVCKING PENNY COMES FROM.

I DEMAND THE SAME LEVEL OF ATTENTION TO DETAIL FROM MY GOVERNMENT WITH """"MY"""" MONEY.

......

Thanks for the mid morning rant man-alive,,,, I'm ready to go kick some puppies now.....

oh,,, and here's a damn kudo for your trouble.


ManAlive47

Apr 14 @ 9:48AM  
I've watch 5 women damn near break out slide rules just deciding who pays what part of 15% tip at lunch.

I think I've seen that too ! ..and they complain about men that are cheapskates. I guess only when it comes to spending on them.



Hooks

Apr 14 @ 11:55AM  
The only factual part of this story is that they have come up with a new estimate of the cost of all the bailouts;

a new estimate of the total cost of all of the federal bailout packages, and including what the federal reserve put into the system in the wake of the crisis of 2008.

So they are making a prediction here that they might "break even" or they might "make a profit" and this is a very wide margin "10 billion or $100 billion" and there is NO guarantee that they will, as it all depends on the way the economy goes.

they are predicting that the federal government as a whole will break even or make a profit of as much as 10 billion or $100 billion depending on how economic conditions go.

What they are saying in the video you linked to, is mostly just double talk, speculation, and BS lol By the time 2015, (the time they say we should know) rolls around no one will remember this report! Other articles that i have read about this are saying that all of this is very speculative, and if you look at the two they mentioned Fannie & Freddie, they are so far in the hole, and continuing to lose, that it could very possibly keep this from ever even breaking even! Here is the complete transcript from the video you linked to.

breaking news in washington. let's get right to eamon javers. eamon. reporter: a new estimate of the total cost of all of the federal bailout packages, and including what the federal reserve put into the system in the wake of the crisis of 2008. they are predicting that the federal government as a whole will break even or make a profit of as much as 10 billion or $100 billion depending on how economic conditions go. three quick highlights of that, starting with fannie and freddie, those are the three big losers according to this information released by treasury. and of all of this, the most successful program has been what the fed has done. treasury releasing these numbers saying that about $179 billion in excess earnings will be spun off from fed investments as a result of the financial crisis. that's the real driver here of what might get all of the federal bailout programs to profitability if that's where we end up by 2015. the fed is the big winner in all of this. maria, back eamon javers, thank you so
ManAlive47

Apr 14 @ 12:52PM  
The Federal Reserve System has already turned over more than $100 billion of bailout-related income to the Treasury, and is on track to turn over $85 billion more this year and next.

Surprise! The big bad bailout is paying off

alivenwell351

Apr 14 @ 1:18PM  
Even @ 100 Billion, that would pay about 18 hrs. worth of interest on the national debt.....

Just sayin'........
Hooks

Apr 14 @ 1:35PM  
Okay that story you linked to is about a year old, and particularly the Freddie & Fannie figures have far exceeded what it predicted. The bottom line, the thing all the stories do not talk about, the thing that you do not remember is we BORROWED the money, it is our DEBT! Eventually we have to get straight on our debt, even if we make $100 blillion on it by 2015, that sucks! If we were a business we would fail think about this
1 percent of 14 trillion = 140 000 000 000

Yes, I would rather see a profit than a loss, but this is like putting $100 thousand dollars into savings, and after a year you say, wow cool, I made a dollar on my investment!

ManAlive47

Apr 14 @ 1:45PM  
Yes, I would rather see a profit than a loss

Good, glad we could agree on something !

Romney will have fun arguing his anti-auto bailout stance in the debates this fall. Of course he'll somehow come out on both sides of the issue. He's definitely vulnerable on this one though.
ttomtarr

Apr 14 @ 4:19PM  
We already know GM paid off its loans last year

I know how they paid off their stockholders.

My GN stock was bankrupted away. The executives gave themselves millions in new GM stock, and stockholders tok a !))% loss on their money.
DiamondRain

Apr 14 @ 4:29PM  
Treasury Predicts Profit of $10-100B from Bailouts

That's great... $10 billion can pay for about ONE PERCENT of the TRILLION dollars EXTRA that the CBO recently says Obamacare is going to cost us OVER AND ABOVE the figure that the Obama administration gave while they were trying to get it passed.

The cost the Obama administration gave was only off by about 100% so far. And there are those who are saying the final cost will be FIVE TIMES what Obama promised.

The Democrats passed Obamacare, and, like Pelosi said now we are finding out what is in it alright ... a ticking economic time bomb.
SensualGemini

Apr 14 @ 4:43PM  
OP: We already know GM paid off its loans last year and record world wide auto sales are expected this year.

...That is partially true.... the part about record sales.

...They still owe $27 Billion that they borrowed from the TARP escrow fund to pay off the TARP GM loan. Meanwhile, GMAC still owes the money they borrowed to back the pensions, while another $2.5 Billion is owed to the union health plan that is also taxpayer backed.

GM Tarp

News Report...

....The deciding factor for if the taxpayer actually gets paid back, is how long the government wants to sit on the 500 million shares of GM stock we all now own. Selling now, would be a terrible loss.

===============
Angel54214

Apr 14 @ 7:43PM  
Treasury freezes pay for CEOs at Ally Financial, GM, AIG
http://smallbusiness.yahoo.com/advisor/treasury-freezes-pay-ceos-ally-financial-gm-aig-172309114.html

GM To Beg States For Mini-Bailouts – Still Owes Taxpayers $28 Billion
http://patdollard.com/2012/01/gm-to-beg-states-for-mini-bailouts-still-owes-taxpayers-28-billion/

GM Plans To Freeze Salaried Workers' Pensions
http://jobs.aol.com/articles/2012/02/16/gm-plans-to-freeze-salaried-workers-pensions/

GM Pays Less Tax Than Buffett’s Secretary; UAW Gets Bonuses
http://nlpc.org/stories/2012/02/16/gm-pays-less-tax-buffet%E2%80%99s-secretary-uaw-profits
ttomtarr

Apr 14 @ 9:12PM  
Correction to myprevious comment.

GM reduced the value of my GM stock to zero.

Anybody could post a profit if they can just unilaterally cancel out their investors.
SweetNapaGuy

Apr 15 @ 1:24AM  
@ ttomtarr:

A little primer on accounting.

In general, stock value, while carried on the books, is based on "book value" (i.e., the amount that was originally paid for the stock). They can sell the stock for $100 a share on the day of issuance, and drive its stock-market price down to $0.01 a share, and it wouldn't affect the books at all. What happens on the stock market doesn't affect the books.

It CAN affect the actions of the board of directors, who will take actions to raise the value of the stock. But a plummeting stock price does not, directly, mean anything in regard to profit.

So, the stock price can be $0.01, or even $0.00, but as long as the revenues are greater than the expenses, there will be a profit. Even if no-one wants to buy the stock.
ManAlive47

Apr 15 @ 2:25AM  
The bottom line for me at least is that we're better off that these actions were taken and in the end the taxpayer will benefit and actually make a profit. The libertarian view is that you let companies fail and whatever happens next happens. Ok, how bad do you want to see another great depression. In this country we have and have had companies that are "too big to fail".

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Treasury Predicts Profit of $10-100B from Bailouts