Closing Arguments: From Bailouts to Billions

Not surprising - A crooked congress, a crooked president, and a crooked bank - Why would we think any different?

Even though the TARP funds have been repaid, the taxpayers should have a say.

The billions of dollars question is: What’s the return to the taxpayers on the Goldman Sachs warrants? The ones traded for TARP funds.

Risk?! The big banks knew they were going to walk out of this crisis with a payoff. Goldman was issued credit-default swaps by AIG, who was bailed out just in time to payout $13 billion of your bailout tax dollars for those bad loans. No way Goldman alum Paulson would allow his alma mater to suffer a loss like everyone else.

An organisation that has taken a bail out has not only repaid, but has made profits.Either their accounts have been fudged to get bail out so that they can speculate on some high risk deal or their present account statement is cooked.Public have a right to know.

These amazing profits only re-enforce the thought that Obamas stimulus plans have only served notice to the "Good Ol' Boy" network on Wall Street that its "Business As Usual"... What ploy could be better than to be a mega-billion dollar investment firm and to have your high-risk investments underwritten by the federal government. Crooks in the banks, congress, and the white house, the ultimate triumvirate. Government by the big three, just the way they want it...at the taxpayer's expense. What could be a more win-win situation for the fat cats as they steal off into the sunset with the countless billions they stole at the onset of this economic debacle. Power corrupts and absolute power corrupts ABSOLUTELY... I fear this is only a harbinger of things to come for our Nation. All this with the blessings of those elected to represent US !!! These Buffoons have no conscience, only the almighty worship of the bottom line. Meanwhile the Nation starves...WE ARE DIMINISHED.

I think that the risk should be taken if they want to its their company. But i think that I should not have to bail them out its should not be my tax money that shall bail them out. I mean when you create a business you know that it comes with risk. I just dont understand why we had to give welfare to the rich

All a bunch of bull. Its easy to make a $2 billion profit when you get tens of billions of our tax dollars.

Hooray for Paulson---How much of our money went for CEO's and Bonuses for the people who got us where we are today?
Until Hedge Funds and the Free Marketeer's are regulated we are not out of the woods yet.

There has been some money made for the taxpayers on the monies that have been paid back from TARP.

But guess What......

That Stooge, Barney Frank wants to use it for more "funny" business instaed of paying down the debt. The LAW staes that any profits from TARP are supposed to be used to pay down the debt. But you don't think gold ole Barney is going to let the LAW get in his way do ya?

Kay & Mike above seem to have very, Very, VERY strong points that need to be openly and honestly explored for the public benefit. Barney Frank let all of the financial messes happen when he should have been doing his serious salaried job within Congress... Extravagant excessive bonuses paid to any CEO's, CFO's, COO's, members of board of directors, etc., are to be condemned and penalized. Tax bonuses at tripple+ IRS rates to be paid by recipients, etc. Loans from companies to senior executives should be published and penalized. All employees should be stock & bond holders of the company - especially publicly held. Such stocks/bonds should be required to be held by employees for large,long # of years. Congress must no longer be owned by lobbyists!! Maybe term limits for all elected offices has earned a serious follow thru ... ??

Goldman Sachs has been front running their customers for years and i truly believe they trade on inside information and the shills at CNBC gush over how smart the Goldman Sachs people are.

Yep-the inmates are officially running the asylum! Only "Wall Streeters" could get excited about Sachs announcing a 2 billion profit, on the heels of receiving 10 billion. WELCOME TO THE WORLD OF TRUE VOODOO ECONOMICS 101.

Dear Canimal
RIGHT ON! THE APPARATCHIKS OF THE OBAMA MUTUAL LOVE AND HAND JOB SOCIETY "CNBC TO YOU LAYMEN", WILL DO ANYTHING TO MAKE BRO. PREZ LOOK GOOD.

GOLDMAN SACHS BOARD OF DIRECTORS MATH MEETING...WE GET 10 BILLION FROM GOVERNMENT WE MAKE 2 BILLION, FOOORGEEET THE OTHER 8 BILLION, WE REPORT 2 BILLION WE MADE AS PROFIT...DATS HOW BRO OBAMA WOULD DO IT...YES?

DEAR COMRADES PUTIN AND MEDVEDEV,
FORGET THE US MILITARY INDUSTRIAL COMPLEX AS A THREAT. IF GOLDMAN SACHS MATH DOES NOT CONVINCE YOU, WE WILL BE BROKE IN 3 YEARS, NOTHING WILL!!!
P.S. SO ALL ALL YOU BIG BAILED OUT BANKS FOLLOW SACHS AND BANK OF AMERICA'S LEAD...
SCREW WHAT YOU OWE WE THE PEOPLE, JUST KEEP REPORTING PROFITS...I AM SO REASSURED.

The question is misguided.

We will never solve these problems, if the people do not understand what really happened to the economy.

The economic collapse was caused by miserably failed government that failed to do what the taxpayers pay them to do, including properly watchdog and regulate the banks.

If Goldman Sachs is recovering, that is a good thing. But our failed government had damn well better be regulating their activities this time. This is a responsibility of failed government, not the taxpayers. That is what we pay failed government to do. It is time for government to stop failing on everything--and I mean everything--that we pay them to do.

Bravo Goldman Sachs! I wish I had bought your stock back in Feb\March!

What is wrong with you people. Why did we give them the money in the first place if we are going to blow a gasket if they are able to turn things around.. Isnt that WHY we did this?
Ive heard it explained like this:
Imagine that you have a friend who lost his job and gets into major financial trouble. They are going to loose their house, their car and then their family because his wife will divorce him. He needs to borrow 10K but the bank wont loan it to him because hes unemployed. So you decide that in order for him to survive you'll loan him the money with a very modest interest.
A month goes by and he seems to be doing better. Hes found a job, he paid his bills, everything seems to be going good. You show up and he immediately writes you a 15K check..
You are so impressed until.... you find out that he took the money you gave him and went to Las Vegas.. He risked all your money at the casinos.. but fortunately, it paid off.. He hit the jackpot and won 5 Million..
The end result is exactly what you wanted. Your friend is gona make it, Through your generosity, his life has been saved..But it still leaves a sour taste in your mouth because now hes got 5 million he made from gambling your 10K..
Does it matter ? Is it the end result that counts?
The bottom line is that its working.. we all knew it had a 50-50 chance of success.. it was a BIG gamble.. but it seems to be working and the pay off is recovery for all of us.. not just the goofy friend with a gambling problem.