Profitable Bailouts

The US Government’s TARP bailout of the financial institutions has reaped a 8.2% profit, or $25 billion. The people (I’m looking at you Republicans and Tea Party tards) who say that government can’t do anything right don’t know history. And now we can say that they don’t understand math either.

The bailout of GM and Chrysler will not pay off, we’ll lose $17 billion on those clowns. But the AIG bailout also profited $11 billion. In total, the bailouts not only didn’t cost the US taxpayer a penny, they saved the economy from decades of recession, probably even a depression, and they profited $19 billion. And in less than 2 years.

Giving credit where credit is due, it was the Bernanke and Paulson that alerted Congress to do something, who made it possible for Bush to sign it and make it happen. Aside from the Republicans in Congress who opposed the bailouts, two responsible Republicans and a Democratic Congress worked together. Government solved yet another problem that the private sector couldn’t.

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