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Old 12-11-2012, 02:19 PM  
Mr. Laz Mr. Laz is offline
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Treasury sells last of AIG shares ... AIG Bailout ends up in Fed profit

More business than Politics ... but whatever


Dec 11, 2012 12:24pm
Treasury Sells Final AIG Shares For $22.7B Total Profit

The Treasury Department today announced it has sold its remaining shares of American International Group, bringing the U.S. bailout profit to $22.7 billion and concluding the largest government assistance package of the financial crisis.

Four years after taxpayer support saved the insurance giant from the brink of collapse, the Treasury sold its remaining 234,169,156 shares of the company for $32.50 each, raising $7.6 billion.

“Giving effect to today’s offering, the overall positive return on the Federal Reserve and Treasury’s combined $182 billion commitment to stabilize AIG during the financial crisis is now $22.7 billion. To date, giving effect to the offering, Treasury has realized a positive return of $5.0 billion and the Federal Reserve has realized a positive return of $17.7 billion,” Treasury announced.

To put this huge figure in context. The $22.7 billion that taxpayers profited from the bailout is roughly the same as the 2013 discretionary budget for the Department of Agriculture. The Food and Drug Administration’s entire budget is only about $2.5 billion. The budget of the Internal Revenue Service is $13 billion. The US Postal Service is about $12 billion in the hole.

AIG nearly collapsed as a result of its bad bets on the housing market in September 2008, prompting the politically contentious massive taxpayer bailout, the largest in U.S. history.
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Old 12-11-2012, 02:22 PM   #2
stevenidol stevenidol is offline
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Yay! Now we can pay for a new war in Syria!
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Old 12-11-2012, 02:22 PM   #3
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Quote:
Originally Posted by stevenidol View Post
Yay! Now we can pay for a new war in Syria!
since when does the government care about what they can pay for?
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yeah i may be a retard but I'll be the one banging your girlfriend when you're out with your friends.
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Old 12-11-2012, 02:27 PM   #4
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Great. Now we need more huge investors to need bailouts and all our problems will be solved!
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Old 12-11-2012, 02:29 PM   #5
Mr. Flopnuts Mr. Flopnuts is offline
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Quote:
Originally Posted by stevenidol View Post
Yay! Now we can pay for a new war in Syria!
Quote:
Originally Posted by loochy View Post
since when does the government care about what they can pay for?
It was more business than politics, at least until you got 2 posts in.
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Old 12-11-2012, 02:31 PM   #6
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Old 12-11-2012, 02:33 PM   #7
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Quote:
Originally Posted by Mr. Flopnuts View Post
It was more business than politics, at least until you got 2 posts in.
No it wasn't. It was pretending to be about business, maybe.
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Old 12-11-2012, 02:34 PM   #8
cosmo20002 cosmo20002 is offline
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Quote:
Originally Posted by blaise View Post
Great. Now we need more huge investors to need bailouts and all our problems will be solved!
This sarcasm will be accepted as a thank you to those responsible for avoiding another depression.
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Old 12-11-2012, 02:46 PM   #9
Zebedee DuBois Zebedee DuBois is offline
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Old 12-11-2012, 03:25 PM   #10
Mr. Laz Mr. Laz is offline
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Quote:
Originally Posted by blaise View Post
No it wasn't. It was pretending to be about business, maybe.
sorry for posting some good news


i should feel ashamed
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Old 12-11-2012, 03:43 PM   #11
BucEyedPea BucEyedPea is offline
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So what. There's still no authority for the Federal govt to be doing such things.
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Old 12-11-2012, 03:44 PM   #12
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Quote:
Originally Posted by blaise View Post
Great. Now we need more huge investors to need bailouts and all our problems will be solved!
How ironic is this-the government is starting to make money in many of the bailout companies. The government continues to lose in all their investments in companies that were supposed to be promising in the green sector.

Go figure.......
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Old 12-11-2012, 05:32 PM   #13
HonestChieffan HonestChieffan is offline
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Quote:
Originally Posted by scho63 View Post
How ironic is this-the government is starting to make money in many of the bailout companies. The government continues to lose in all their investments in companies that were supposed to be promising in the green sector.

Go figure.......
Very Bain-like.
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Old 12-11-2012, 05:39 PM   #14
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Quote:
Originally Posted by HonestChieffan View Post
Very Bain-like.
I don't get the comparison.
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Old 12-12-2012, 11:10 AM   #15
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Pretty sure this is horrible news.
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