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Post by vincegatto on Mar 27, 2010 7:25:23 GMT -5
Obama a socialist? Looks like the taxpayers made a nice buck on this deal. U.S. set to make $8 billion from bailing out Citi Obama administration is preparing to sell its stake in the bank, sources say 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. www.msnbc.msn.com/id/36062775/ns/business-washington_post/ |
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notmypresident
getting the hang of it
What you going to school for? Just go down and see the welfare man. Precious 2010
Posts: 40
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Post by notmypresident on Mar 27, 2010 12:11:56 GMT -5
You really believe this coming from MSNBC "the obama" network. These big banks should have been allowed to fail. This profit is all political smoke and mirrors. And you as a taxpayer who funded this bailout where is your cut? You should be ashamed that you keep cheerleading for this wig. Fire and brimstone coming.
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Post by vincegatto on Mar 27, 2010 12:33:29 GMT -5
You really believe this coming from MSNBC "the obama" network. These big banks should have been allowed to fail. This profit is all political smoke and mirrors. And you as a taxpayer who funded this bailout where is your cut? You should be ashamed that you keep cheerleading for this wig. Fire and brimstone coming. Jee wiz, I didn't want the banks to fail, that's where I keep my money. I bet that your are one of those people who would cut off his nose to spite his face. My cut as a taxpayer who helped bailout the banks comes as paying $8 billion less in taxes because the government made a profit on the bailout. You must be having a bad week 1. Healthcare passed 2. The bailout not only saved the country from a depression, it ended up costing taxpayers nothing and actually made a profit for the government when it sold its stock in a private company back into the "capitalist" system to trade on the stock market. How does it feel to be cheering for the losing team? |
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notmypresident
getting the hang of it
What you going to school for? Just go down and see the welfare man. Precious 2010
Posts: 40
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Post by notmypresident on Mar 27, 2010 12:54:07 GMT -5
You can laugh at me behind a keyboard. But you have no idea whats coming in the future. I can predict civil unarrest on such a large scale. You apparently don't collect a paycheck unless it is off the dole of a taxpayer like me. People like you are whats a matter with this country. It can't continue to go on like this for three more years. I don't know how old you are, but you should try to find a job and be part of America. You and people like you are the problem and action must be taken to take back the USA.
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Post by vincegatto on Mar 27, 2010 14:12:51 GMT -5
You can laugh at me behind a keyboard. But you have no idea whats coming in the future. I can predict civil unarrest on such a large scale. You apparently don't collect a paycheck unless it is off the dole of a taxpayer like me. People like you are whats a matter with this country. It can't continue to go on like this for three more years. I don't know how old you are, but you should try to find a job and be part of America. You and people like you are the problem and action must be taken to take back the USA. Excuse me? I not only have a job, but own a company and am an employer. I provide my employees with group health insurance and am probably one of the few private businesses that still pays 100% of their health insurance costs. As a small business owner, I believe that the healthcare plan (Obamacare) will save me money. I am the consummate capitalist and a pragmatic realist. You live in a world where you get your opinions from Rush Limbaugh and Glenn Beck on the radio. My opinions are formed from living in the real world. Go get your gun, load and lock a round and wait for Glenn Beck to tell you it is OK to come out of your bunker sometime after the coming civil unrest has passed.  |
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notmypresident
getting the hang of it
What you going to school for? Just go down and see the welfare man. Precious 2010
Posts: 40
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Post by notmypresident on Mar 27, 2010 15:07:43 GMT -5
What is the name of your Company and maybe I will let you off the hook. And we won't be in bunkers we will be taking the offensive.
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Post by vincegatto on Mar 27, 2010 16:50:40 GMT -5
What is the name of your Company and maybe I will let you off the hook. And we won't be in bunkers we will be taking the offensive.   "We fix warped wingnuts and replace loose screws""We carry all brands of Gun Nuts" "Full line of polish for brass balls" "Free Confederate Flag with each screw-job repair" "Bring in a copy of the US Constitution for a 10% discount If you can actually read it - 50% off!" and most importantly: IN GOD WE TRUST! (All others pay cash) |
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notmypresident
getting the hang of it
What you going to school for? Just go down and see the welfare man. Precious 2010
Posts: 40
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Post by notmypresident on Mar 28, 2010 12:35:09 GMT -5
Well you proved my point you don't own any Company. Call me a nut or blame it on Bush. In time you will see that you are a minority in this country who is getting something free from the Govt.
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Post by stevemcgarrett on Mar 28, 2010 12:40:44 GMT -5
Obama a socialist? Looks like the taxpayers made a nice buck on this deal. U.S. set to make $8 billion from bailing out Citi Obama administration is preparing to sell its stake in the bank, sources say 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. www.msnbc.msn.com/id/36062775/ns/business-washington_post/So why is he still shoveling this horseshit? www.thestreet.com/story/10660828/obamas-bank-fee-proposal-on-the-way.htmlYou do know ultimately the average consumer will pay the price of this nonsense, right? Keep drinking the Obama/Pelosi/Frank/Dodd koolaid my friend. |
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Post by vincegatto on Mar 28, 2010 13:42:07 GMT -5
Obama a socialist? Looks like the taxpayers made a nice buck on this deal. U.S. set to make $8 billion from bailing out Citi Obama administration is preparing to sell its stake in the bank, sources say 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. www.msnbc.msn.com/id/36062775/ns/business-washington_post/So why is he still shoveling this horseshit? www.thestreet.com/story/10660828/obamas-bank-fee-proposal-on-the-way.htmlYou do know ultimately the average consumer will pay the price of this nonsense, right? Keep drinking the Obama/Pelosi/Frank/Dodd koolaid my friend. According to the article you posted: "...More than 600 smaller banks that haven't repaid TARP are still paying billions of dollars in dividends to the Treasury Department each quarter. From the program's inception in October 2008, through last November, the Treasury has collected $11.6 billion in dividends and $358 million in interest on TARP investments..."Isn't that a good thing. The taxpayers are getting a return on the government's investment in bailing out banks. Banks were able to stay in business and didn't go belly-up, shaking the consumers confidence in the economy. Can you imagine if the FDIC came in and shut down Audubon Savings Bank. The run it would cause on local banks around here and people's concerns for their savings in any bank. I think that you are drinking too much of your own Koolaid. That was positive news you posted. If the average consumer ends up paying more as a result of a bank's TARP repayments, shame on them for dealing with a poorly run business that ended up on the verge of failure and then going back for more. |
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Post by vincegatto on Mar 28, 2010 13:59:25 GMT -5
Well you proved my point you don't own any Company. Call me a nut or blame it on Bush. In time you will see that you are a minority in this country who is getting something free from the Govt. Next time you read the US Constitution, take particular notice of the parts about majority rule. The majority of those in congress that voted for things that you don't like were elected by a majority of voters in their districts. The majority ruled in Congress and the majority of voters elected the current President. Also take note that it is considered treason to try to overthrow the government by force. Which brings up an interesting question- who do you think is going to be behind the "civil unrest", members of the Tea Party? Is it your intention to start an offensive against people who believe like you. I can pretty well assure you that the Liberals and racial minorities are quite content right now and not the one throwing bricks through Congressman's windows, threatening them and shooting at them. Those that do that are not a majority of Americans and represent a small group of society's "wingnuts". What I do for a living and the business I own are my affair, not yours. |
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Post by stevemcgarrett on Mar 28, 2010 15:44:39 GMT -5
According to the article you posted: "...More than 600 smaller banks that haven't repaid TARP are still paying billions of dollars in dividends to the Treasury Department each quarter. From the program's inception in October 2008, through last November, the Treasury has collected $11.6 billion in dividends and $358 million in interest on TARP investments..."Isn't that a good thing. The taxpayers are getting a return on the government's investment in bailing out banks. Banks were able to stay in business and didn't go belly-up, shaking the consumers confidence in the economy. Can you imagine if the FDIC came in and shut down Audubon Savings Bank. The run it would cause on local banks around here and people's concerns for their savings in any bank. I think that you are drinking too much of your own Koolaid. That was positive news you posted. If the average consumer ends up paying more as a result of a bank's TARP repayments, shame on them for dealing with a poorly run business that ended up on the verge of failure and then going back for more. My point is NOT that the government making money off TARP is a bad thing. My point is that for them to 'tap' that 'populist' anger by continually dipping into the back pocket of an industry that you need to have a healthy economy is, frankly, BullSh!t. But, for this group, redistributing wealth is what it is all about. God forbid that anyone who took out a loan they couldn't afford take some personal responsibility for it, right? Or that good ol' Barney Frank and company fess up to the FACT that they encouraged this mess years ago with their push to have every American in a house, whether they could afford it or not. You know, through their ability to direct the GSE's like Fannie and Freddie. So yeah, they made money off a bailout their own stupuidty helped cause, and they can continue to cast a vital industry as 'greedy fat cats' to hide their culpability. Then, they can also foster a way of life in this country where people take ZERO personal responsibility. You know, like those people who gut the house right before the foreclosure, because after all, it ain't their fault. Yeah...WOO HOO...let's celebrate the Obama revolution! |
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Post by vincegatto on Mar 28, 2010 16:09:18 GMT -5
According to the article you posted: "...More than 600 smaller banks that haven't repaid TARP are still paying billions of dollars in dividends to the Treasury Department each quarter. From the program's inception in October 2008, through last November, the Treasury has collected $11.6 billion in dividends and $358 million in interest on TARP investments..."Isn't that a good thing. The taxpayers are getting a return on the government's investment in bailing out banks. Banks were able to stay in business and didn't go belly-up, shaking the consumers confidence in the economy. Can you imagine if the FDIC came in and shut down Audubon Savings Bank. The run it would cause on local banks around here and people's concerns for their savings in any bank. I think that you are drinking too much of your own Koolaid. That was positive news you posted. If the average consumer ends up paying more as a result of a bank's TARP repayments, shame on them for dealing with a poorly run business that ended up on the verge of failure and then going back for more. My point is NOT that the government making money off TARP is a bad thing. My point is that for them to 'tap' that 'populist' anger by continually dipping into the back pocket of an industry that you need to have a healthy economy is, frankly, BullSh!t. But, for this group, redistributing wealth is what it is all about. God forbid that anyone who took out a loan they couldn't afford take some personal responsibility for it, right? Or that good ol' Barney Frank and company fess up to the FACT that they encouraged this mess years ago with their push to have every American in a house, whether they could afford it or not. You know, through their ability to direct the GSE's like Fannie and Freddie. So yeah, they made money off a bailout their own stupuidty helped cause, and they can continue to cast a vital industry as 'greedy fat cats' to hide their culpability. Then, they can also foster a way of life in this country where people take ZERO personal responsibility. You know, like those people who gut the house right before the foreclosure, because after all, it ain't their fault. Yeah...WOO HOO...let's celebrate the Obama revolution! Banks got in the trouble they did, because bankers got greedy and made bad loans and created shabby financial products like ARM and balloon mortgages. Then they sold these potential bad loans between each other as if they were playing musical chairs, hoping to make a quick buck before the music stopped and they ended up stuck holding on to them. The whole time the Bush admin did nothing to regulate them or discourage them. The sh1t hit the fan when the bottom fell out of the real estate market, the equity value of the loans collapsed - people went upside down on the mortgages, their payments ballooned and they could not sell their homes to get out from under. The banks could not even benefit from a foreclosure because they could not cash out by selling the homes they foreclosed on in a declining ,weak market where billions of dollars in false equity and value they created with "teaser loans and easy to get money" evaporated within two years. Better we have a shake out with less banks and more regulations. Anything Obama can do to clean up that industry, the better - and the sooner, the better. |
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Post by stevemcgarrett on Mar 28, 2010 17:46:53 GMT -5
My point is NOT that the government making money off TARP is a bad thing. My point is that for them to 'tap' that 'populist' anger by continually dipping into the back pocket of an industry that you need to have a healthy economy is, frankly, BullSh!t. But, for this group, redistributing wealth is what it is all about. God forbid that anyone who took out a loan they couldn't afford take some personal responsibility for it, right? Or that good ol' Barney Frank and company fess up to the FACT that they encouraged this mess years ago with their push to have every American in a house, whether they could afford it or not. You know, through their ability to direct the GSE's like Fannie and Freddie. So yeah, they made money off a bailout their own stupuidty helped cause, and they can continue to cast a vital industry as 'greedy fat cats' to hide their culpability. Then, they can also foster a way of life in this country where people take ZERO personal responsibility. You know, like those people who gut the house right before the foreclosure, because after all, it ain't their fault. Yeah...WOO HOO...let's celebrate the Obama revolution! Banks got in the trouble they did, because bankers got greedy and made bad loans and created shabby financial products like ARM and balloon mortgages. Then they sold these potential bad loans between each other as if they were playing musical chairs, hoping to make a quick buck before the music stopped and they ended up stuck holding on to them. The whole time the Bush admin did nothing to regulate them or discourage them. The sh1t hit the fan when the bottom fell out of the real estate market, the equity value of the loans collapsed - people went upside down on the mortgages, their payments ballooned and they could not sell their homes to get out from under. The banks could not even benefit from a foreclosure because they could not cash out by selling the homes they foreclosed on in a declining ,weak market where billions of dollars in false equity and value they created with "teaser loans and easy to get money" evaporated within two years. Better we have a shake out with less banks and more regulations. Anything Obama can do to clean up that industry, the better - and the sooner, the better. That is only half of the equation. If you'd like to better educate yourself do a little research. If you prefer to go through life thinking Uncle Obama is 'saving you' from the 'greedy businessman' then keep being simplistic. Either way, the next time Uncle Obama tells you he has to place an additional levy against the largest banks to 'cover' TARP, you'll know he is fulla sh!t. |
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Post by vincegatto on Mar 28, 2010 18:43:45 GMT -5
Banks got in the trouble they did, because bankers got greedy and made bad loans and created shabby financial products like ARM and balloon mortgages. Then they sold these potential bad loans between each other as if they were playing musical chairs, hoping to make a quick buck before the music stopped and they ended up stuck holding on to them. The whole time the Bush admin did nothing to regulate them or discourage them. The sh1t hit the fan when the bottom fell out of the real estate market, the equity value of the loans collapsed - people went upside down on the mortgages, their payments ballooned and they could not sell their homes to get out from under. The banks could not even benefit from a foreclosure because they could not cash out by selling the homes they foreclosed on in a declining ,weak market where billions of dollars in false equity and value they created with "teaser loans and easy to get money" evaporated within two years. Better we have a shake out with less banks and more regulations. Anything Obama can do to clean up that industry, the better - and the sooner, the better. That is only half of the equation. If you'd like to better educate yourself do a little research. If you prefer to go through life thinking Uncle Obama is 'saving you' from the 'greedy businessman' then keep being simplistic. Either way, the next time Uncle Obama tells you he has to place an additional levy against the largest banks to 'cover' TARP, you'll know he is fulla sh!t. Don't get me wrong. I am more interested in seeing Obama regulate the industry to avoid situations like we have just been through and have the government worry less about how they are going to get poor people into affordable housing. It's a combination of unrealistic government objectives and opportunistic businessmen capitalizing on the good intentions of bad government strategies. Either people can afford to own a home or they can't. No amount of Government legislation or slick loan manipulation is going to change that - and now it should be obvious. I am even less concerned about fees that will have to be paid by financial institutions that borrowed my tax money and now appear to be doing quite well again. Maybe well enough to start the same crap all over again. |
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