4 ms·
Obama better get out quickly before he gives them one last bailout.
by nextparadigms 15y ago
Obama better get out quickly before he gives them one last bailout.
- melling 15y agoObama made money lending to Goldman. They paid all their loans back with interest. http://dealbook.nytimes.com/2009/06/17/jpmorgan-repays-treasury-as-tarp-exits-continue/ http://dealbook.nytimes.com/2009/06/17/jpmorgan-repays-treas...
- veyron 15y agoThe article only says that JP Morgan paid back the loans with interest. Did GS actually pay interest on the loans? Also keep in mind the returns also reflect stock appreciation (and buybacks of warrants)
- alttag 15y agoFrom TFA: "Goldman said it paid a one-time dividend of $425 million on its preferred stock." (Off of a "loan" of $10 billion USD.) The TARP moneys weren't "loans" in the traditional sense, but equity purchases or preferred shares, which allowed U.S. Treasury to impose some significant restrictions on how the company operated.
- alttag 15y agoYes, Goldman paid back (with what looks to be about 4% interest), but the total expenditures of TARP have not yet been recovered, and are still a significant loss. From wikipedia [1]: Of the $245 billion invested in U.S. banks, over $169 billion has been paid back, including $13.7 billion in dividends, interest and other income, along with $4 billion in warrant proceeds as of April 2010 1: http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program
- melling 15y agoOn that page, they list the participants, the amounts borrowed, and how much they paid back. http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#Participants http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program#P... It looks like most of the money has been paid back. GMAC is one of the big outstanding exceptions. (+ 45 45 40 25 25 8.1 10 10 7.579 6.6 4 3.555 3.389 3 3 1.23)