"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
TRUE! And the best part is knowing ALL those so-called ' pro-business ' hypocrites, who always criticize the U.S. government about not supporting Business AND were the first to denounce the bailouts, have to ' eat crow ' now that it's known that our U.S. Government made a hefty profit for U.S. taxpayers.
ReplyDelete" Success is the best revenge. " ~French proverb