The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources. At today’s prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds, and the transaction would be the second-largest stock sale in history.
On paper, the government’s 27 percent stake has grown in value to $33 billion.
The windfall expected from the stock sale would amount to a validation of the rescue plan adopted by government officials during the height of the financial panic, when the banking system neared the brink of collapse. A year ago, Citigroup’s stock hovered around a dollar a share, and the bank’s future seemed in doubt. On Friday, the stock closed at $4.31.
That will definitely be a boon for the administration in the bailout but I do not see them get much credit from the Right. That is one of the side benefit of being not limited by morals or a sense of ethics.
But it is one of the principles of Republicans who tend to be business minder should embrace and understand. “It cost money to make money”, investing to make a profit the main drive of the investors in the stock market.
If only all these investments in bank would pay off, history would be assured of having a begging point for the President in this down turn of the economy.
Wasn’t this from TARP which was done under the bush administration? So doesn’t credit go to bush, not Obama?
I know, I know — those who complain about the bank bailouts blame it on President Obama (because everything is his fault!), but the banks were bailed out by bush and all of us here know that.
Unions gave President Obama a crucial boost in the final push for health care, helping whip House Democrats who threatened to buck the party line and airing supportive ads for those who backed the legislation. Now President Obama might pay them back by pushing through two nominees to the National Labor Relations Board, Craig Becker and Mark Pearce, who are popular with unions. According to Politico, Senate Majority Leader Harry Reid is on board with the plan as well, despite earlier misgivings about using a recess appointment to avoid a GOP filibuster. “He has decided that enough is enough and would support such a move,” Reid spokesman Jim Manley said late Friday.
Here’s a Tea Party candidate (who btw must believe laws don’t apply to him since he is being charged with some felonies) is accusing the Republican Party for being behind his woes.
“Ashjian said he’s being targeted by unnamed people acting on behalf of the Republican Party.
“Clearly these people are afraid that I will siphon votes from their political party and from the Republican Party,” he said in a statement in response to the lawsuit.”
I think this suggests there are some wide cracks and disagreements among those who call themselves conservatives, and this doesn’t bode well for the Republican Party. If they splinter doesn’t that make two smaller groups out of one group that was already too small to be relevant at the national level?
Thanks for the video, Thunderchild! I knew it was Earth Hour, and even tho I probably won’t participate at this exact time — I’m a big basketball fan — I know how important it is we all are aware that our home is being abused and we need to take of her!
As for beginning threads, you first have to make a WordPress account — just go to Word Press —
It’s like he grew a pair! I’m so proud. Maybe he was part of that transplant operation we read about last week. 🙂
“Obama makes 15 recess appointments, blames Republicans
Sat Mar 27, 2010 4:26pm EDT
WASHINGTON, March 27 (Reuters) – U.S. President Barack Obama on Saturday announced his plan to make 15 recess appointments held up by Republican delays, including two Treasury Department positions and two on the National Labor Relations Board that have been vacant for more than a year.”
It is about time Fnord, he has been trying to get the Government to function as it should.
But you can only try so long to fix stupid and willful intent to be in your way.
The White House said the 15 appointees have waited an average of 214 days for a Senate confirmation vote. In all, the White House said, Obama has 217 nominees pending before the Senate, including 77 who are only awaiting a final floor vote.
As Tracy would say, “pitiful, just pitiful”
As PrairiePond would say, “Jesus wept”
Yeah, I agree. President Obama can’t wait on that “Party of Hell No” any longer.
Maybe all this feet-dragging that seemed to be going on was all in the masterful plan of Obama and Pelosi?
The more the Republicans are shown to be the party of No Ideas, No Solutions and We Really Don’t Care, the better for Obama and the Democrats.
As this health care reform takes hold and the majority of Americans see that the sun still rises and sets and that Obama did not turn into some Socialistic Anti-Christ with 3 heads ready to eat young puppies for breakfast, the more the Republicans will continue down their road of self-importance, self-righteous, violence-inciting and downright unpatriotic bordering on treason.
The majority of Americans don’t like it when one minority group thinks they should have all the power and money. So far, it looks like Republicans are in for a rude awakening.
Sorry I couldn’t bleep some of the more “off color” words. Not that any of us have never heard them before. Bill does get down and dirty, but just hang in there until until the 2:53 mark. When it gets to: Bi-Furious, listen up.
PrairiePopulistsAndProgressives.net 
The Obama administration is making final preparations to sell its stake in the New York bank, according to industry and federal sources. At today’s prices, the sale would net more than $8 billion, by far the largest profit returned from any firm that accepted bailout funds, and the transaction would be the second-largest stock sale in history.
On paper, the government’s 27 percent stake has grown in value to $33 billion.
The windfall expected from the stock sale would amount to a validation of the rescue plan adopted by government officials during the height of the financial panic, when the banking system neared the brink of collapse. A year ago, Citigroup’s stock hovered around a dollar a share, and the bank’s future seemed in doubt. On Friday, the stock closed at $4.31.
http://www.washingtonpost.com/wp-dyn/content/article/2010/03/26/AR2010032604938.html?hpid=topnews
That will definitely be a boon for the administration in the bailout but I do not see them get much credit from the Right. That is one of the side benefit of being not limited by morals or a sense of ethics.
But it is one of the principles of Republicans who tend to be business minder should embrace and understand. “It cost money to make money”, investing to make a profit the main drive of the investors in the stock market.
If only all these investments in bank would pay off, history would be assured of having a begging point for the President in this down turn of the economy.
Wasn’t this from TARP which was done under the bush administration? So doesn’t credit go to bush, not Obama?
I know, I know — those who complain about the bank bailouts blame it on President Obama (because everything is his fault!), but the banks were bailed out by bush and all of us here know that.
White House Recess Appointments Coming?
Unions gave President Obama a crucial boost in the final push for health care, helping whip House Democrats who threatened to buck the party line and airing supportive ads for those who backed the legislation. Now President Obama might pay them back by pushing through two nominees to the National Labor Relations Board, Craig Becker and Mark Pearce, who are popular with unions. According to Politico, Senate Majority Leader Harry Reid is on board with the plan as well, despite earlier misgivings about using a recess appointment to avoid a GOP filibuster. “He has decided that enough is enough and would support such a move,” Reid spokesman Jim Manley said late Friday.
Here’s a Tea Party candidate (who btw must believe laws don’t apply to him since he is being charged with some felonies) is accusing the Republican Party for being behind his woes.
“Ashjian said he’s being targeted by unnamed people acting on behalf of the Republican Party.
“Clearly these people are afraid that I will siphon votes from their political party and from the Republican Party,” he said in a statement in response to the lawsuit.”
http://www.google.com/hostednews/ap/article/ALeqM5jHeQqVPDs74cqwL_3FpS354l9lEQD9EMK1JO0
I think this suggests there are some wide cracks and disagreements among those who call themselves conservatives, and this doesn’t bode well for the Republican Party. If they splinter doesn’t that make two smaller groups out of one group that was already too small to be relevant at the national level?
In a word, yes.
I just mentioned something similar to my daughter tonight. In trying to please everyone on the right, they’ve displeased more. Politics is tricky!
Don’t know how to start a thread here…
Remember that today is Earth hour day.
Thanks for the video, Thunderchild! I knew it was Earth Hour, and even tho I probably won’t participate at this exact time — I’m a big basketball fan — I know how important it is we all are aware that our home is being abused and we need to take of her!
As for beginning threads, you first have to make a WordPress account — just go to Word Press —
http://wordpress.org/
then, after that’s done I can change your status so you can add threads if you want.
It’s like he grew a pair! I’m so proud. Maybe he was part of that transplant operation we read about last week. 🙂
“Obama makes 15 recess appointments, blames Republicans
Sat Mar 27, 2010 4:26pm EDT
WASHINGTON, March 27 (Reuters) – U.S. President Barack Obama on Saturday announced his plan to make 15 recess appointments held up by Republican delays, including two Treasury Department positions and two on the National Labor Relations Board that have been vacant for more than a year.”
http://www.reuters.com/article/idUSN2721118920100327?type=marketsNews
Take that! Ha!
It is about time Fnord, he has been trying to get the Government to function as it should.
But you can only try so long to fix stupid and willful intent to be in your way.
The country needs to come first.
The White House said the 15 appointees have waited an average of 214 days for a Senate confirmation vote. In all, the White House said, Obama has 217 nominees pending before the Senate, including 77 who are only awaiting a final floor vote.
As Tracy would say, “pitiful, just pitiful”
As PrairiePond would say, “Jesus wept”
Yeah, I agree. President Obama can’t wait on that “Party of Hell No” any longer.
Maybe all this feet-dragging that seemed to be going on was all in the masterful plan of Obama and Pelosi?
The more the Republicans are shown to be the party of No Ideas, No Solutions and We Really Don’t Care, the better for Obama and the Democrats.
As this health care reform takes hold and the majority of Americans see that the sun still rises and sets and that Obama did not turn into some Socialistic Anti-Christ with 3 heads ready to eat young puppies for breakfast, the more the Republicans will continue down their road of self-importance, self-righteous, violence-inciting and downright unpatriotic bordering on treason.
The majority of Americans don’t like it when one minority group thinks they should have all the power and money. So far, it looks like Republicans are in for a rude awakening.
Sorry I couldn’t bleep some of the more “off color” words. Not that any of us have never heard them before. Bill does get down and dirty, but just hang in there until until the 2:53 mark. When it gets to: Bi-Furious, listen up.
(For text only) http://therealbillmaher.blogspot.com/2010/03/new-rule-you-cant-use-there-will-be-no.html
Funny – true, but still funny.
“This video is no longer available due to a copyright claim by HOME BOX OFFICE, INC.”
So I used the click you provided for reading the text instead, although I think the text wasn’t complete and can’t find the video anyplace.
Great new rule! I guess since comedians don’t need to worry about being reelected, they can say it like it is, and Bill says it better than many.
Correct. And I would humbly suggest that what’s left of the banking regulators take a hard look at how Citigroup managed to come up with that money.
Whoops– replied to wrong comment. Oh well.