Wow, American taxpayers have made a profit on bailing out the banks!
Except the $4 billion profit doesn’t count the hundreds of billions in taxpayer guarantees of the toxic loans held by zombie banks like Bank of America and Citibank, to say nothing of the largesse bestowed on AIG, GM, and Chrysler or the Fed becoming an SIV for the US Treasury to the tune of several trillion.
Alas, the shoe hasn’t begun to drop on these “investments”, but of course that’s Goingbackwardville.
Gorilla thinks: “There’s no accounting for accounting, so it’s better to keep the spoons hidden!”
