Government Profits from Financial (GMAC) bailout (CNN, brainwash, economy, money)

[MTAtech]

From CNN Money:

It's taken almost five years, but one of the government's ugliest ducklings is finally showing signs of turning into a swan. A profitable swan, at that. I'm talking about Ally Financial, formerly GMAC, General Motors' finance subsidiary.

Ally sucked up $17.2 billion of federal bailout money...

But now it appears to be nearing an end, and Ally's additional ResCap obligations seem to finally have a cap on them. That makes it possible to estimate what the government's Ally investment is worth. Guess what? By my conservative math, that stake is worth $1.5 billion more than it cost. And I'm not including the $6.1 billion of dividends the government has collected from Ally.

[BoomBen]

Originally Posted by MTAtech

From CNN Money:

How will we benefit from this? Or will Mr Carpenter just reap a bigger bonus?

[theunbrainwashed]

Originally Posted by BoomBen

How will we benefit from this? Or will Mr Carpenter just reap a bigger bonus?

Somebody's sucking on sour grapes

[MTAtech]

Originally Posted by BoomBen

How will we benefit from this? Or will Mr Carpenter just reap a bigger bonus?

Shouldn't it be obvious? The government earned a profit on this venture, which means it benefits taxpayers.

[BoomBen]

Originally Posted by theunbrainwashed

Somebody's sucking on sour grapes

Not at all. I am hoping we benefit from it. When we see the benefits let me know.

[BoomBen]

Originally Posted by MTAtech

Shouldn't it be obvious? The government earned a profit on this venture, which means it benefits taxpayers.

How?
IS Government going to put this profit to good use?

[MrRational]

Originally Posted by BoomBen

How?
IS Government going to put this profit to good use?

It's not profit until it's cashed out.

[BoomBen]

Originally Posted by MrRational

It's not profit until it's cashed out.

Yes, and here is the entire article:

Government profits from Ally? Go figure! - The Washington Post


Lets not forget the taxpayer bailed out this corporation. Is this implying that trickle down works?

[hnsq]

Originally Posted by MTAtech

Shouldn't it be obvious? The government earned a profit on this venture, which means it benefits taxpayers.

The treasury earns a profit from this which it is using to fuel bond purchases by the Fed in an effort to artificially prop up liquidity. This is just another game to make public risk that was previously held by the private sector, which is something we should all be terrified of.

[Frank DeForrest]

When can I expect my check?