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Apparently the US government has made $4 Billion from the bailout with more on the way.

In other words the bailout now only cost $696 Billion. Hooray!

http://news.yahoo.com/s/ap/20090831/ap_on_bi_ge/us_bailout_profits

Yeah, and we would see an even bigger return if we would have done aggressive trust busting instead of bailing anyone out. Same effect but with private money instead of public, plus it would actually create more jobs and stop bubbles from inflating and companies from becoming "too big to fail".

Originally posted by Symmetric Chaos
Apparently the US government has made $4 Billion from the bailout with more on the way.

In other words the bailout now only cost $696 Billion. Hooray!

http://news.yahoo.com/s/ap/20090831/ap_on_bi_ge/us_bailout_profits

Well, that just needs to happen another 174 times and Obama will be the shit-nitz, yo.

Mike's waaaay too late guide to trust busting and bailing out US citizens the right way (to be applied to the auto industry, AIG, Banks, etc.)

1. The government seizes troubled industries along with the passports of executives.
2. The government splits companies in a logical way, such as along product lines or regions
3. The government auctions off the smaller companies to private investors, using the profits from the auction to pay off bad company debts and protect worker benefits as well as to pay for their costs.
4. The government sells foreign plants, offices and assets to private companies or directly to the workers operating in the countries.
5. Any costs not covered by the auction or sale of foreign assets are paid directly from the executives' personal assets as a condition of returning their passports.
6. The newly created companies create jobs because they each have to open new offices and hire many new positions that were initially lost.

Wasn't that easy? And it cost a lot less than $700 billion!

Originally posted by Symmetric Chaos
Apparently the US government has made $4 Billion from the bailout with more on the way.

In other words the bailout now only cost $696 Billion. Hooray!

http://news.yahoo.com/s/ap/20090831/ap_on_bi_ge/us_bailout_profits

Your logic is flawed.

This is the kind of reporting that Fox News would do. (Because they know their primary viewing demographic is too stupid to analyze the data properly.)


That is profits from what they paid back.


In order for you to use the $700 billion dollar figure, you first need to find out how much of the $700 billion base has been paid back, then subtract an additional $4 billion from that to arrive at the correct amount of money left to be paid back.

Originally posted by dadudemon
Your logic is flawed.

This is the kind of reporting that Fox News would do. (Because they know their primary viewing demographic is too stupid to analyze the data properly.)


That is profits from what they paid back.


In order for you to use the $700 billion dollar figure, you first need to find out how much of the $700 billion base has been paid back, then subtract an additional $4 billion from that to arrive at the correct amount of money left to be paid back.

I duznt gets it.

Originally posted by Symmetric Chaos
I duznt gets it.

Are you being sarcastic or are you serious?


If you're serious, then think of it this way:


The number you reported was profit only. They made a profit off of what was paid back.



I borrow $10 from you. You charge 20% interest.

That means I have to pay you back the $10 and an additional $2 in interest.



The numbers you reported were only the $2, so, saying that there's still $696 billion left to pay back would be very inaccurate. The number is likely much smaller.



If you were being sarcastic, damn you.

Originally posted by dadudemon
Are you being sarcastic or are you serious?


If you're serious, then think of it this way:


The number you reported was profit only. They made a profit off of what was paid back.



I borrow $10 from you. You charge 20% interest.

That means I have to pay you back the $10 and an additional $2 in interest.



The numbers you reported were only the $2, so, saying that there's still $696 billion left to pay back would be very inaccurate. The number is likely much smaller.



If you were being sarcastic, damn you.

Are you saying they made over seven hundred billion dollars in less than a year?

According to the link the US government was only given back $4 billion dollars from the banks so far.

Originally posted by Symmetric Chaos
Are you saying they made over seven hundred billion dollars in less than a year?

According to the link the US government was only given back $4 billion dollars from the banks so far.


No, I'm not saying that. How did you get that out of my post?

No they didn't. The $4 billion is profits, a.k.a. money they've made off of interest. I've already explained in simpler terms and simpler amounts.


Edit - Okay. I can see what you're talking about, now. You think I implied the $700 billion was paid back because I said the person paid back all $10 and the $2 in interest. In context, you would understand from a previous post that that's not what I was implying. I already pointed out that we don't know what the $4 billion represents. They paid back what? Did they pay back a combined $20 billion with $4 billion interest, total? What? That's what I'm talking about. I guess I need to apologize for not being more clear.