While the United states Armed Forces (private mercenaries) are stationed at 737 bases, in 130 nations around the world, defending “all freedom-loving people everywhere in the world,” Goldman Sachs commercial bank buys back “toxic” assets that it had sold to the department of the treasury literally for “dimes on the dollar”: 10,000,000,000 “dollars” worth of mortgage back securities are bought back by Goldman for 1,100,000,000 “dollars” a 1,125% return on their investment. The department of the treasury releases a statement claiming, “Taxpayers have gotten a good return on their investment. The process we designed on valuation worked to protect taxpayers.”
Question: How can a 8,900,000,000 “dollar” loss be a “good return?”
[added 12/18/2021] Thanks to Freedom’s Phoenix for this entry.
Subsequent Events:
References:
Goldman buys back TARP warrants for $1.1 billion – International Business-News-The Economic Times
economictimes.indiatimes.com/Goldman-redeems-TARP-warrants-for-11-bn/articleshow/4809290.cms