I just saw a report on CNBC that the TARP program (the government bailout of banks that resulted in government ownership of banks) has already lost the government 37% of its investment. Remember, this was the program that was supposed to be profitable for the government and it was said that this program would return nice profits to the taxpayers. Instead, the government has lost 37% of the money that it has invested so far. I am not surprised. The government (against the wishes of the public) invested money it didn’t have in companies that are failing—can anyone really be surprised that the loss is already so large?
On another note, I am very very very busy studying for finals and writing massive essays for grad school. I will not be able to regularly update this site until December 15th. Expect regular updates after that.