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Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 1:08 pm
by Cap'n Cat
http://www.businessweek.com/news/2012-1 ... share-sale" onclick="window.open(this.href);return false;
American International Group Inc. (AIG)’s rescue has come to an end with the U.S. raising $7.6 billion in its final offering of the insurer’s shares, four years after a bailout that fueled resentment against Wall Street.
The Treasury Department is selling 234.2 million shares at $32.50 each in the sixth offering since the 2008 rescue. The proceeds boost the U.S. profit on the rescue that began in 2008 to $22.7 billion, according to a statement today from the Treasury, which injected capital through the Troubled Asset Relief Program.
The U.S. took over the New York-based company in a 2008 bailout that swelled to $182.3 billion to save the global economy from collapse. AIG has sold more than $65 billion of assets to help repay the rescue, while Chief Executive Officer Robert Benmosche scaled back from the derivative bets that almost destroyed the firm. He’s focusing on property-casualty coverage globally and life and retirement products in the U.S.
“Treasury can claim victory, AIG can be free of TARP, and AIG will begin to trade on its merits,” said Josh Stirling, an analyst at Sanford C. Bernstein & Co., in note to investors. Investors in the latest offering “bought this recovering, but still controversial name at a discount from the government.”
Obama bails out Conks again and teaches lesson on unfettered capitalism!
"My fellow Americans, for my next act, I am going to take God down."
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 1:20 pm
by ASUG8
Only $165B to go.
http://projects.propublica.org/bailout/" onclick="window.open(this.href);return false;
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 1:21 pm
by Ibanez
Good. Another company has made good on its loan from the US Taxpayer. I bet BDKnumbnuts has a few article s and graphs that will contradict this.
Oh, and we've already squandered the $22.7B.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 1:29 pm
by Ibanez
Yup. In 4 years approx. 73% of all the money has been returned. Not too shabby. I expect GM to be done in 2014.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 1:40 pm
by Cap'n Cat
Government is good, men. When run by Democrats.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 1:41 pm
by Rob Iola
We should bail out more companies then - a few more years of this and we'll be running a budget surplus and could cut taxes! More government = lower taxes!
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 1:53 pm
by Cap'n Cat
Rob Iola wrote:We should bail out more companies then - a few more years of this and we'll be running a budget surplus and could cut taxes! More government = lower taxes!
Why dontcha agitate to close the oil tax loopholes, fuckface?
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 1:58 pm
by Rob Iola
Cap'n Cat wrote:Rob Iola wrote:We should bail out more companies then - a few more years of this and we'll be running a budget surplus and could cut taxes! More government = lower taxes!
Why dontcha agitate to close the oil tax loopholes, fuckface?
I'm agreeing with you Capn'! We should definitely close the oil tax loopholes too, plus nix the charitable contribution loophole, the mortgage deduction, and the social security payroll tax cap. Pump more stimulus into the economy to rebuild our infrastructure and schools, and this country will return to its full glory!
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Dec 11, 2012 2:15 pm
by AZGrizFan
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Wed Dec 12, 2012 7:42 am
by kalm
How much did GS net off the AIG bailout?
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Wed Dec 12, 2012 7:43 am
by Ibanez
kalm wrote:How much did GS net off the AIG bailout?
Oh. I don't know.
How bout Fannie and Freddie? Those crooks took the most, approx $187,485,000,000. They've returned $0 yet the gov't has made $21.9B off of Freddie and $28.5 off of Fannie.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Wed Dec 12, 2012 10:45 am
by grizfnz
So when do we all get dividend checks for our ROI?
Sent from my ADR6400L using Tapatalk 2
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Wed Dec 12, 2012 10:47 am
by danefan
grizfnz wrote:So when do we all get dividend checks for our ROI?
Sent from my ADR6400L using Tapatalk 2
Its already spent.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Wed Dec 12, 2012 12:52 pm
by Ivytalk
Meanwhile, Fisker -- the darling of Delaware's Donk Guv Jack Markell -- continues to go straight down the subsidized federal crapper.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Wed Dec 12, 2012 6:07 pm
by Bison Fan in NW MN
Cap'n Cat wrote:Government is good, men. When run by Democrats.
Ya, go with that....
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Fri Dec 21, 2012 6:57 am
by danefan
You'll see this commercial pop up over the holiday season.
[youtube]
http://www.youtube.com/watch?v=GiW9n6C_2Fo[/youtube]
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Fri Dec 21, 2012 7:08 am
by ASUG8
Whoopsie.....looks like we have an offset to the AIG bailout.
That's more than double the current trading price. GM will buy the 200 million shares at $27.50 each, about an 8 percent premium over Tuesday's closing price of $25.49. The shares shot up more than 8 percent to $27.60 in midday trading Wednesday.
At a more realistic price of $30 apiece, the government gets back $9 billion for its remaining shares. That means taxpayers would recoup around $38 billion, or about 77 percent, of the initial investment, resulting in a loss of about $12 billion.
http://www.sanduskyregister.com/article/2978856" onclick="window.open(this.href);return false;
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Fri Dec 21, 2012 7:28 am
by Ibanez
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Fri Dec 21, 2012 7:29 am
by Ibanez
ASUG8 wrote:Whoopsie.....looks like we have an offset to the AIG bailout.
That's more than double the current trading price. GM will buy the 200 million shares at $27.50 each, about an 8 percent premium over Tuesday's closing price of $25.49. The shares shot up more than 8 percent to $27.60 in midday trading Wednesday.
At a more realistic price of $30 apiece, the government gets back $9 billion for its remaining shares. That means taxpayers would recoup around $38 billion, or about 77 percent, of the initial investment, resulting in a loss of about $12 billion.
http://www.sanduskyregister.com/article/2978856" onclick="window.open(this.href);return false;
Get a better source. The Sandusky Register likes to fuck you people.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Fri Dec 21, 2012 7:55 pm
by BDKJMU
Ibanez wrote:Good. Another company has made good on its loan from the US Taxpayer. I bet BDKnumbnuts has a few article s and graphs that will contradict this.
Oh, and we've already squandered the $22.7B.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Jan 14, 2014 8:32 am
by danefan
Oh the Irony.....AIG basically got a huge payday loan.
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Jan 14, 2014 8:35 am
by AZGrizFan
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Jan 14, 2014 10:29 am
by CID1990
We gained 22 billion, but how much did we lose?
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Jan 14, 2014 10:38 am
by danefan
CID1990 wrote:We gained 22 billion, but how much did we lose?
Thats profit on AIG.
Lost on a lot of others
Re: Conks Wrong Again: US NETS $22.7 BILLION ON AIG BAILOUT!
Posted: Tue Jan 14, 2014 11:01 am
by VictorG
Don't tell Fox-Abloid. They didn't get it right the first time!!!
