The taxpayers made a $22 billion profit on the AIG bailout

[Jhhnn]

its only socialism when you don't qualify for it.

who ever thought giving a giant loan to someone might make you a lot of money in interest?

if the government would have given that money to the citizens of america instead, would they have given it back by now with interest?

Do you think that financial execs took the money out of their own portfolios, the ones they fluffed up mightily during the bubble? Or do you think that they actually got it from the rest of us?

What a country! Compress 15 or 20 years of honest profits into 5 years of looting, drive your own companies to the edge of bankruptcy, get bailed out, keep everything, and have morons sing your praises!

 

[bononos]

http://www.latimes.com/business/la-fi-mo-aig-bailout-treasury-department-20121211,0,3388388.story

In the end a lot of the bailouts were NOT handouts to the rich as the Occupy idiots made them out to be. I know that the Treasury also made a substantial profit on Citigroup. It would be interesting to see the financial picture for the overall TARP program. I bet in the end the bailouts of GM and Chrysler will cost the taxpayers far more than the bank bailouts did.

Is this the same thing as the JP Morgan profitable bailout story not so long ago? It looks like it wasn't profitable for the taxpayers at all:
http://www.bloomberg.com/news/2012-04-19/hope-for-treasury-bailout-profits-rests-on-fuzzy-math.html
http://www.huffingtonpost.com/2012/12/11/aig-bailout-profit_n_2277676.html?utm_hp_ref=business

 

[shira]

You do realize TARP and the AIG bailout were done under Bush right?

EDIT: And according to Obama Reagan was a socialist. So does that mean that when Democrats say that Reaganomics is a failure, they are saying socialism is a failure?

Reaganomics was the whole Laffer curve and "the rising economic tide brought about by tax cuts will raise all boats" argument. Reagan's bailouts are definitely NOT a part of Reaganomics.