Reply to post: Re: On The Other Hand...

Utes gotta be kidding me... University of Utah handed $457K to ransomware creeps

Hawkeye Pierce

Re: On The Other Hand...

Unfortunately that article you link to regarding Citigroup is incorrect in a number of places.

First and most importantly, the deal was arranged by the Bush administration not Obama. Secondly the Government did not "give" $306 billion. The total sum handed over amounted to some $45 billion over two tranches with the headline $306bn coming from the value of the loans that the Government agreed to take any losses on... potentially that could have amounted to $306bn but realistically was going to be nothing like that amount. Also the bailout was not a gift - it was a loan and the Government received a sizeable stake in Citigroup itself as part of the deal.

And - albeit with the benefit of hindsight - a pretty successful financial transaction too for the Government as they've made around $15bn profit on the repaid loan and the sold shares in Citigroup.

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