Remember the bank bailout that so many were against?
The U.S. has actually made $25 billion on it...
(surprise!)
It's something you'll near hear reported on Fox...
The U.S. government’s bailout of financial firms through the Troubled Asset Relief Program provided taxpayers with higher returns than yields paid on 30- year Treasury bonds -- enough money to fund the Securities and Exchange Commission for the next two decades.
The government has earned $25.2 billion on its investment of $309 billion in banks and insurance companies, an 8.2 percent return over two years, according to data compiled by Bloomberg. That beat U.S. Treasuries, high-yield savings accounts, money- market funds and certificates of deposit. Investing in the stock market or gold would have paid off better.
The bank bailout worked very well & was very necessary, except for the huge bonuses and salaries the employees got for screwing everyone.
But I am a little suspicious of the numbers. Remember when GM ran those commercials saying they had repaid the federal debt? Turned out to be a major lie and interesting bookkeeping.
Thomas Sowell: There are no solutions, just trade-offs.
