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  • Fed turns AIG bailout into $18 billion profit

    From cnn.com

    Read Full Story at cnn.com

    The Federal Reserve finally has wiped its hands clean of AIG and turned a nearly $18 billion profit for taxpayers in the process. Now it's up to the Treasury Department to sell the rest of its U.S. government's stake in the insurance giant. The Federal Reserve Bank of New York announced Thursday that it had sold the last of its securities related to the AIG (AIG, Fortune 500) bailout. The portfolio, known as Maiden Lane III, consisted of collateralized debt obligations, or CDOs -- highly complex financial instruments that bundle various kinds of debt. The Maiden Lane III sales earned $6.6 ... (full story)

    • Reb

      167 posts
    • Good for them. Naturally the profit will go toward paying down our outrageous Obama federal debt.

    • tonyo524
      tonyo524's Avatar

        2,038 posts
    • @Reb funny you would say that being that this outrageous debt is what is keeping America afloat. Or would you rather have Bush back and a stock market in the toilet? My do we forget quickly.

    • Trout
      Trout's Avatar

        502 posts
    • it was true in the 80's the 90's and the 00's: "Don't Fade the Fed"

    • Martin de

      153 posts
    • Quoting tonyo524
      @Reb funny you would say that being that this outrageous debt is what is keeping America afloat. Or would you rather have Bush back and a stock market in the toilet? My do we forget quickly.
      we hated that 5% unemployment after the Clinton ression and 9/11. i'd rather have the stock market in the toilet and American's going to work.

    • cuchuflito

        320 posts
    • the fed is a privete bank...(you can google it)...money stays in itīs pocket...then they will lend it again, maybe to go to war...and make more taxpayer cash...good business

    • Yao

      499 posts
    • Quoting Martin de
      we hated that 5% unemployment after the Clinton ression and 9/11. i'd rather have the stock market in the toilet and American's going to work.
      not sure what you mean by Clinton recession and going to work during Bush presidency? you must be hallucinating or simply being stupid.

    • Martin de

      153 posts
    • Quoting Yao
      not sure what you mean by Clinton recession and going to work during Bush presidency? you must be hallucinating or simply being stupid.
      sounds like thers a lot ur not sure of, cuz ther was a Clinton recession, u didn't hear about cuz Bush never blamed anyone and we had 5% unemployment until the the libs took over congress, the same libs that caused the housing buble, r u 2 stupid to look it up?

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