Dec 9, 2010

Avoided the Great Depression and Made Money

Pretty good rate of return for the US. We bailed out the Banks and Wall Street, saved our economy from another great depression, and made money doing so. Is this a great country or what?


"America’s Treasury Department sold the remaining 2.4 billion common shares it held in Citigroup. The government spent $45 billion directly to prop up the bank during the financial crisis, but it claims that Citi’s bail-out has reaped a profit of $12 billion, after the latest share sale, for taxpayers. Meanwhile, the Treasury and the Federal Reserve accelerated their efforts to exit their investments in American International Group."


Source: The Economist