Posted by GeoT
Don’t wanna’ say I told you so, But I told you so 🙂 How will the various factions spin this one? Will anyone anywhere on the political spectrum (I’m talking to you Paul Krugman) admit that the bailout just might have been a wise investment? Investments in American companies that we now see returning a handsome PROFIT to the taxpayers.
Critics of the bailout were concerned that the Treasury Department would never see a return on its investment. But the government has already claimed profits from eight of the biggest banks.
The Times cited government profits of $1.4 billion from Goldman Sachs, $1.3 billion from Morgan Stanley and $414 million from American Express. It also listed five other banks — Northern Trust, Bank of New York Mellon, State Street, U.S. Bancorp and BB&T — that each returned profits between $100 million and $334 million.