NJ5 on 10 November 2008
In Europe the conditions were pretty good for the government.
To tell the truth I haven't quite kept up with those news (it's harder to find info for some reason).
But regarding the US again, check out today's headlines regarding government-owned Fannie Mae and AIG:
Fannie Mae reports $29 billion 3rd-quarter loss
$29 billion lost in a single quarter, whereas their record yearly profit happened in 2005 at $6.3 billion. Seems hard to count on breaking even on this one.
AIG loses $24.5 billion in the 3rd quarter, requires more gov support
I wonder how the "taxpayer will profit" plan is working out considering things like this. Looks like BS to appease the masses to me. The only ones profiting are the bank owners who were Too Big To Fail ™ and the homeowners who were/are living above their means (until they get kicked out of their houses at least).
My Mario Kart Wii friend code: 2707-1866-0957
