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01 Jul 2010 09:35

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Biz: The federal government coming out ahead on Citibank bailout

  • 7.7B number of shares the government owns due to the Citibank bailout
  • $10.5B revenues from selling a third of those shares (around 2.6 billion)
  • $2B amount in profits the government has made from the sales source
Posted by Ernie Smith • 0 Comments • Permalink

20 Feb 2010 12:40

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Culture: “Our Little Genius” isn’t nearly as smart as he looks

  • Word on the street is that this highly-promoted Fox game show, “Our Little Genius,” never made it to air because of an FCC complaint about the show. Apparently, the kids were getting fed answers to make them seem a lot smarter, which is totally not cool. More than anything, though, we’re sad that Kevin Pollack lost another gig. source
Posted by Ernie Smith • 0 Comments • Permalink

12 Jan 2010 10:41

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Biz: Reward for risk: The Federal Reserve made a huge profit in 2009

  • $46.1 billion the size of the Federal Reserve’s profits in 2009
  • $14.4 billion the increase in the Fed’s profits from 2008 source
  • Why the increase? Simple. The Fed lowered its standards and became the buyer of last resort, buying assets nobody else wanted, and getting profits from those assets. In case you’re wondering, by the way, they dump these profits back to the Treasury.
Posted by Ernie Smith • 0 Comments • Permalink
 
 
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