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phill4paul
08-31-2009, 06:16 AM
Report: US makes $4 billion from bailout banks

http://news.yahoo.com/s/ap/20090831/ap_on_bi_ge/us_bailout_profits


The U.S. government has hauled in about $4 billion in profits from large banks that have repaid their obligations from last year's federal bailout, The New York Times reported Sunday.

Profit: The positive gain from an investment or business operation after subtracting for all expenses. I don't think the conditions for profit have been met. Have these banks payed off the loans already?

TinCanToNA
08-31-2009, 07:00 AM
A loan isn't considered an expense in this sense. It is a debt liability, and the required payment on it is an expense, but the whole liability itself is not.

However, that does not in any way excuse this corporate fascism.