Monday, August 31, 2009

Phony Government Bank Bailout "Profits"

The NYT headline blares:
As Big Banks Repay Bailout Money, U.S. Sees a Profit


NYT continues:

The profits, collected from eight of the biggest banks that have fully repaid their obligations to the government, come to about $4 billion, or the equivalent of about 15 percent annually, according to calculations compiled for The New York Times.


If you take a "stake" in an outhouse, then put $10 billion in cash inside the outhouse by using all kinds of methods from direct infusions to "trades" where you allow the outhouse traders an edge, surprise the outhouse is going to climb in value.

These profits are as phony as the lying Barack Obama.
at 10:30:00 AM

5 comments:

  1. MysteryAugust 31, 2009 at 10:48 AM

    Karl Denninger also on this

    http://market-ticker.denninger.net/archives/1389-The-Intentionally-Misleading-Mainstream-Media.html

    ReplyDelete
  2. Taylor ConantAugust 31, 2009 at 11:22 AM

    Wenzel,

    An old phrase for our new times:

    "I'll believe it when I see my dividend check."

    ReplyDelete
  3. PEU Report/State of the DivisionAugust 31, 2009 at 12:01 PM

    Add in the $7 billion Chrysler write down and it looks like a $3 billion loss.

    ReplyDelete
  4. James RothfeldAugust 31, 2009 at 2:43 PM

    GovernmEnt.. Just helping out. keep it coming.

    ReplyDelete
  5. AnonymousSeptember 1, 2009 at 3:24 AM

    it's funny because they only count the over adjusted "wins" by some of the propped-up firms.......what about all of the other money that is outstanding? A one mile horse race doesn't end at the first quarter-mile.....

    ReplyDelete

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