Maggie's Farm

We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.

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Thursday, February 4. 2010

The red and the black

Email from a friend:



One of our institutional equity market strategists reacted to Pres O's proposal to tax banks to recover TARP money. Everyone knows the the gov't is net ahead on its bank investments, but here are the actual returns (costs or benefits to taxpayers)  as calculated by my colleague:

            Bank bailouts:                + 16.9 billion profit to date

            AIG bailout:                  - $30.4 billion projected loss

            Automaker bailout:         - $30.5 billion projected loss

            Homeowner bailouts:      - $50 billion projected subsidy


Looks to me that the logic leads us to tax homeowners.  Ooooooooops!  I just realized that he is proposing that, too.


Posted by Bird Dog in Hot News & Misc. Short Subjects at 09:28 | Comment (1) | Trackbacks (0)

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You have to discount the profit for inflation, which more or less wipes it out.

Of course inflation is the government's fault.
#1 rhhardin (Link) on 2010-02-04 09:59 (Reply)

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