U.S. says it books $12 billion profit on Citigroup bailout

[Crabtownboy]

More profit from the bailout ..................

The U.S. Treasury said late Monday that its $45-billion bailout of banking giant Citigroup Inc. produced a $12 billion profit for taxpayers.

The Treasury said it sold the last of its Citi stock -- 2.4 billion shares -- to private investors at $4.35 apiece, raising $10.5 billion.

Combined with proceeds from previous Citi stock sales as well as dividend and interest income paid to Treasury by the bank over the last two years, the government said it took in a total of $57 billion.
http://latimesblogs.latimes.com/mon...ofit-12-billion-tarp-shares-bailout-bank.html

 

[targus]

You need to factor in the cost of the interest paid to Citibank for the treasury bills that they bought with the money - earning a higher rate of interest than they were borrowing at.

That would be a net loss to the government.

 

[Crabtownboy]

You need to factor in the cost of the interest paid to Citibank for the treasury bills that they bought with the money - earning a higher rate of interest than they were borrowing at.

That would be a net loss to the government.

Again you show no understanding in business and investing ... though you claim to be a businessman. Drop it T, "ain't gonna play your silly game this time."

 

[SpiritualMadMan]

You need to factor in the cost of the interest paid to Citibank for the treasury bills that they bought with the money - earning a higher rate of interest than they were borrowing at.

That would be a net loss to the government.

Please provide a link for your assertion...