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(LA Times)   U.S. is cutting its losses and selling off its remaining shares of AIG at a $15.1 billion... profit?   (latimes.com ) divider line
    More: Interesting, American International Group Inc., U.S., Phil Angelides, Financial Crisis Inquiry Commission, Century City  
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1643 clicks; posted to Business » on 11 Dec 2012 at 8:55 AM (3 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-12-11 09:31:43 PM  

steamingpile: Kazan: no. fark vouchers. they're just another way to leech money away from a system that needs reformed, not killed.

Killing is quicker and more humane, its too far gone to save now, the foxes have eaten for too long in the hen house.


Oh and wasnt there a headline touting the GM profit before that evaporated as well? What is the net profit/loss ratio for the bailout, after the energy companies they lost on and the GM losses I would think they are still in the red on the who package.


We made money on AIG. That's locked in with this sale. We also made money on the tarp investments in all the other large financial institutions.

How much we make/lose on tarp loans to smaller banks will be determinedly later this year, when the loans come due.

We lost a couple billion on Chrysler, and will likely lose about $15b on GM unless their stock goes through the roof very soon.

The big losses on the bailout are from Fannie Mae and Freddie Mac. Well over a hundred billion will be flushed down those two toilets when it's all said and done.

Check out propublica's tarp page. Best summary ive seen.
 
2012-12-11 09:34:41 PM  

max_pooper: DrewCurtisJr: Vegan Meat Popsicle: In other words you cherry-picked one thing I presented poorly by pointing out one district in one city across an entire nation of 300 million people then pretended I didn't say anything else because you know damn well you're full of shiat.

No, just the most glaring example of your ignorance. Why should I waste my time on any of your other nonsense?

I would assume it's because you can not actually dispute it.


Isn't it amazing how a fark thread can devolve into an argument something not even tangentially related to TFA?

Bravo Chabash, wherever you are!
 
2012-12-11 09:36:56 PM  

DrewCurtisJr: No, just the most glaring example of your ignorance. Why should I waste my time on any of your other nonsense?I cherry-pick single poorly-worded statements and then declare victory by ignoring every other part of the post because I know I'm full of crap.


Right.

And you've been farkied appropriately so I don't mistake you for somebody with a brain in any future threads.

Buh-bye.

www.nycaviation.com
 
2012-12-11 09:37:32 PM  

ghare: MugzyBrown: Moopy Mac: senzasord: What profit? The Federal Reserve gave them a bailout with fake money they created and we've all paid for that by inflation.

Can you point to this inflation caused by monetary policy?

Increased money supply is by definition inflation

So, you didn't fail economics, you never even attended class.


It's not my problem you don't know or understand the definition or history of inflation
 
2012-12-11 09:47:11 PM  
http://www.clevelandfed.org/Research/commentary/1997/1015.pdf
 
2012-12-11 10:25:55 PM  
Let's see....so if you discount all aspects of it that lost money, what remains is making money. Who'd'athunkit?
 
2012-12-11 11:26:49 PM  
Why is putting better students into better schools a bad idea? That way the top, say, 10% can be taught in an environment that actually encourages learning. The bottom 10% aren't gonna do much worse than they already are.

I'm not even saying in charter schools (although I support the idea); tracking public education would have amazing results on its own.
 
2012-12-12 12:16:13 AM  

Debeo Summa Credo: steamingpile: Kazan: no. fark vouchers. they're just another way to leech money away from a system that needs reformed, not killed.

Killing is quicker and more humane, its too far gone to save now, the foxes have eaten for too long in the hen house.


Oh and wasnt there a headline touting the GM profit before that evaporated as well? What is the net profit/loss ratio for the bailout, after the energy companies they lost on and the GM losses I would think they are still in the red on the who package.

We made money on AIG. That's locked in with this sale. We also made money on the tarp investments in all the other large financial institutions.

How much we make/lose on tarp loans to smaller banks will be determinedly later this year, when the loans come due.

We lost a couple billion on Chrysler, and will likely lose about $15b on GM unless their stock goes through the roof very soon.

The big losses on the bailout are from Fannie Mae and Freddie Mac. Well over a hundred billion will be flushed down those two toilets when it's all said and done.

Check out propublica's tarp page. Best summary ive seen.


Fannie and Freddie aren't really losses. The government bought those two companies with no intention of reselling them any time soon. So far, we've gotten about $50B back on it, and we'll continue to get money back. That's what, 10% annual return, with a lot more coming when the housing market improves? We'll get our money back from them.

At this point, we have hundreds of loans and warrants still outstanding, but we've already broken even on everything but Fanny and Freddie. Everything from now on is gravy. This is going to be a very significant profit for the U.S.
 
2012-12-12 12:28:44 AM  

Here'sJohnny: Why is putting better students into better schools a bad idea.



It isn't. What's bad is when schools cherry pick the students who will be the cheapest to teach, leaving the students with learning or behavior problems for the public schools to handle.

Think of it this way, making up numbers as an example of the cost to teach:
Top 20%: $2000 each.
Middle 40%: $1000 each
Behavior issues 20%: $3500 each.
Learning issues 10%: $5000 each
Severe learning issues 10%: $10,000 each.

Average: $3000 each.

Let's say a Private school takes the top half of students, and gets paid $2500 each. They make $1100 a student. Unfortunately, even though the public school gets $3500 a student instead of $3000, then end up losing $1100 per student.

That's why vouchers don't work.
 
2012-12-12 01:08:06 AM  

Spanky_McFarksalot: I don't care how much of a profit was made, should have let these farkers go bankrupt.

Gawddamn welfare queens.


And thanks to the network effect that banking is subject to, all of the related financial institutions that would go down the tubes. Counterparty obligations, how do they work?

Then you have the many mid-size firms that were dependent on those financial institutions, and have instant liquidity problems because of their failure.

But fark them.

Why, the banking meltdown of the 1870s was so much fun, imagine what it could be today, with our far greater dependence on a money economy.

My point is, if you try to enforce moral outcomes via economics, you fark vast numbers of innocent players. This is what conservatives don't get, and what righteous leftish farkwads also don't get.

Why yes, I will judge you by the company you keep.
 
2012-12-12 06:13:58 AM  

Chabash: Now put every penny of that profit into education.


Or... since we borrowed the money, how about we just pay it back. It's like buying something on a credit card, only to return it latter. The money you got back isn't some windfall, you still owe that money to the credit card company.
 
2012-12-12 07:14:07 AM  

angry_scientist: No subby, it is in ADDITION to it's already $15.1 billion profit 

/as it should be, if not more


Another $7.8 billion in fact, based on the share value at the end of yesterday (FTA).
 
2012-12-12 07:45:22 AM  

BarkingUnicorn: Chabash: Now put every penny of that profit into education jailing AIG execs.


^ This

How is it a profit if it barely puts a dent in their losses from all the other "bailouts" during the financial crisis?
 
2012-12-12 11:50:09 AM  

HighlanderRPI: BarkingUnicorn: Chabash: Now put every penny of that profit into education jailing AIG execs.

^ This

How is it a profit if it barely puts a dent in their losses from all the other "bailouts" during the financial crisis?


It doesn't. We've made a profit on all of the bailouts. Fanny/Freddie were nationalizatios, not bailouts.
 
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