security personnel. incumbent president was declared the winner. observers say the count was flawed. british prime minister offered to send troops to clear airport delays caused by winter storms. some passengers have been stranded for several days. in the u.s. now and story from washington state about too much of a good thing. cycling one kind of material is doing some processors more harm than good. correspondent dan springer reports that the future of glass recyclers is anything but clear. americans are recycling more than ever. paper, can, plastic. but glass is a money loser for recycling companies and now with the construction slow, it is getting harder to find a
goldman sachs lawsuit. he is going to be telephone and we got the e-mails, pretty salacious stuff. he does admit he basically knew he was selling products that were going against the mortgage market and selling products that were going to be a money loser for many people, many of the average investors out there. he says if we he says what if we created, quote a. thing that has no purpose, absolutely conceptual and highly theoretical which notably nobody knows how to price. he s talking about securities, knowing it was going to be difficult to price the securities, then he kind of seems conflicted in the next e-mail and here it is, he says anyway, not feeling too guilty about this, the real purpose of my job is to make capital markets more efficient, amazing how good i am and convince in convincing myself. these are e-mails back in 2007 he sent to his girlfriend. you know, besides the salacious nature, some of the e-mails very personal between he and his gil friend, he basically pai
world report. so, rick, my question is $8 billion at stake here, does this ultimately prove that investing and doing these bailouts was a payoff for us? i hope this didn t lead future governments to say let s just invest in the banks every time. that s certainly not what we need. the government is making money off the banks for sure. and this was anticipated at the beginning of the whole bailout program and it just was a question of when will the government get its money back. now the government is going to lose money on the overall bailout. aig is a money loser for sure. unsure about the auto companies and we still have fannie and freddie. citigroup will be the last of the big banks to pay back the money they got. which company does the u.s. stand to make the most money from? it could be citigroup. remember that the other banks like jpmorgan chase and bank of america have already paid back the money with interest. so it s going to be the banks. this is great news for everyone w
the washington post that says the u.s. government is poised to sell its 27% stake in citigroup, netting about $8 billion in profit for taxpayers. citigroup s bailout was the biggest on wall street, and the windfall from the sale could be viewed as validation of the rescue plan adopted by government officials during the height of the financial crisis. having essentially worked, joining me slive rick newman, chief business correspondent with u.s. news & world report. the u.s. is set to earn as we noted $8 billion. is this some evidence that the bailout process that so many people opposed may actually have turned out to be a good thing for american taxpayers? partly. remember of the nine big banks that got bailed out in 2008, the government has gotten back its money with interest from eight of them. citigroup is the ninth and the last. there are still several hundred smaller banks that have government money, but the government s made money on the banks. aig is going to end up being