19% of Citibank 25B 85B
17% of JP Morgan Chase 25B 144B
13% of Bank of America 10B (+5B) 114B
15% of Wells Fargo 10B (+5B) 100B
23% of Goldman Sachs 10B 43B
52% of Morgan Stanley 10B 19B
It sure is a lot better than owning 100% of "toxic assets" (you can thank UK/Europe for pushing that.) But still looks quite wrong, doesn't it?
So Keynesianism is back (arguably it never went away.)
Well, if big governments can spend hundreds of billions on saving banks maybe they can drop some change (a tenth of that sum) on health, modernization, and infrastructure.
And ideally a thousandth of that sum on making who was responsible for this scam go to jail.
Comments
US taxpayers should now own ($/MktCap):
19% of Citibank 25B 85B 17% of JP Morgan Chase 25B 144B 13% of Bank of America 10B (+5B) 114B 15% of Wells Fargo 10B (+5B) 100B 23% of Goldman Sachs 10B 43B 52% of Morgan Stanley 10B 19B
It sure is a lot better than owning 100% of "toxic assets" (you can thank UK/Europe for pushing that.) But still looks quite wrong, doesn't it?
http://news.bbc.co.uk/1/hi/business/7644238.stm http://en.wikipedia.org/wiki/List_of_countries_by_external_d...
So Keynesianism is back (arguably it never went away.)
Well, if big governments can spend hundreds of billions on saving banks maybe they can drop some change (a tenth of that sum) on health, modernization, and infrastructure.
And ideally a thousandth of that sum on making who was responsible for this scam go to jail.