In a December 12,2012 newspaper article buried in the bowels of the business section in the Palm Beach Post. I read that the United States government actually made a profit of $22.7 BILLION dollars on their bailout of AIG. This was from the much maligned TARP program.
Why was this not front page news? After all the clamor and whinnying and hair pulling of bailouts why was this not shouted from the front page?
The government gave AIG $182 Billion at the height of the financial crisis which gave the U.S. a 16% ownership in the company. When all was said and done the stock that was sold back made $22.7 Billion more which of course went back into the Treasury Department and the Federal Reserve.
The Democrats really missed an opportunity to yell from the mountain tops of what was gained. They need a better public relations department to lord it over to the other side when something like this happens.
Facts: The government gotten back $380 Billion of the $418 Billion or 90% back of the moneys it disbursed under TARP. So pick something else to bitch and moan about.
Thanks for the post. It is unbelivable that this did make FRONT page news.
you are welcome, agreed!