Tagged with "capital"
Striking Capitol Workers Take Their Fight To Ted Cruz
The people who work at the U.S. Capitol and Senate went on strike on Tuesday to protest their latest contract.
More Than 100 CEOs Are Asking World Leaders To Stop Emitting So Much Carbon
BOOM
The Government Bailouts Just Ended, With Billions In Profit
On Friday, the U.S. Treasury Department announced that it had sold its remaining shares of Ally Financial, the former financing subsidiary of General Motors, for $1.3 billion, effectively ending the auto and bank bailouts it began under President George W. Bush in 2008.
The government also announced that the Troubled Asset Relief Program for banks and the Detroit bailouts yielded $15.35 billion in profit. The investment in what is now called Ally Financial yielded $2.4 billion in profit alone.
Through those programs and related efforts, $426.35 billion in government money was injected into the financial and auto sectors during the turbulence of the financial crisis. Interest payments and stock sales since then have brought in $441.7 billion. The auto rescue itself, however, has not turned a profit, losing $9.5 billion mostly related to General Motors paying back just $39 billion of the $49.5 billion it received.
The government still has less than $1 billion invested in 35 small community banks. It no longer owns any part of the automotive industry.
They’re over. | Follow ThinkProgress
But unfortunately it’s not, for moms and dads like us that work there. This company makes millions and billions of dollars, and we’re not seeing it.