Citigroup says it's now profitable....GM says

[SoCalDem]

Thanks, but no thanks to more money..Other TARP banks are offering to start "paying it back"..

So..

Were they lying THEN? or NOW? or BOTH times?

I'm starting to think that a new president in office, may have been the ideal time to reach out for some big-bucks "ransom" money..

GHWB dumped Somalia onto Clinton and the "gays in the military issue", as an early-stumbling-block..

Looks to me like Georgie's lovely parting gift to Obama just had to be the financial meltdown, since starting a war was off the table, due to the two wars we were already embroiled in, having taken that issue away.

He just miscalculated. because "biddnesspeople" being what they are, wanted TWO dips of ice cream..one from HIM, before he even left office, and a bigger one from the "new guy"..

Perhaps the introduction of some serious oversight showed them that the free ride is over..

Are they pulling back from asking for another scoop..with whipped cream on it..

Are they doing it because they have figured out a new way to manipulate their businesses to look profitable again? or are they just lying to pump some life into their stock? or are they trying desperately to keep the Obama admin from looking too deeply into their "finances"?

Is anyone "buying it"?

[liberal N proud]

1. Turn down money or go bankrupt...

Make you think they were lying then doesn't it?

[SharonAnn]

10. That, and they don't want anyone to look too closely at what they've been doing.

And they certainly don't want any regulation that would prevent them from doing some more of it.

[uponit7771]

2. I think it's a ploy to get their stock up, they just didn't "start" to make money in the last 2 mths

[CoffeeCat]

7. Did you see that many Bank of America execs...

...bought up a ton of their own stock last week?

[LittleBlue]

3. It's only profitable because of accounting tricks. They refuse to write down

their obviously impaired assets to reasonable levels.

[DJ13]

4. It came down to finding ways to not take money or giving up exec bonuses

This should tell us whats the most important thing to those greedy bastards.

[vaberella]

5. At the least the media is buying it...at most the market went up for the last 3-4 days.

So they were fucking with us is my estimation. Another poster was asking this question and mentioned that President Obama was threatening them with nationalization if they kept asking for money. When they realized that they went hell no we're good. But BoA was apparently about to file for bankruptcy and within days they're chillin'? I don't know if they're lieing or not. But I do think they were fucking with us for money...either way.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=132&topic_id=8260591&mesg_id=8260591
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=132x8259364

[CoffeeCat]

6. There's so much to say about this...

...but my main concern about these banks isn't "profit" it's "solvency."

The banks have untold numbers of useless, worthless toxic assets on their balance sheets.

These banks are rumored to be insolvent because of these toxic assets. So, that's all well
and good that they are makings some "profits" off of some recent loans. However, what about
the overall financial health of these banks, related to the toxic assets?

Some of these banks are acting as if all is well now. They're purposely and loudly disseminating
information to the press, indicating that these banks are doing super!

Given that these people have lied to us in the recent past, how can we believe their marketeering?

Given the toxic asset situation, how can we believe that these are healthy banks?

For some reason, these banks are trying to convince us that they are a good investment now.

Are they trying to make some additional money off of their stock? Or what?

My head hurts.

[SoCalDem]

8. Yep.. they just threw all the trash in the basement

and are using room freshner to try to kill the odor..but it's still a basement full of stinky trash..

But if they continue the myth of solvency, they think they can keep regulators/the administration from going down there to see what's causing the stink..

[CoffeeCat]

9. I tend to agree with you...

...and if this is true--these banks will implode very soon.

I mean...what in the HELL are they doing????

They're talking about how "profitable" and wonderful they are--when they know that
the corpse is rotting.

How long CAN these banks hide their toxic assets? Can they continue to operate, while
pretending like everything is sunshine and unicorns?

I just don't understand what they're doing. Why don't they come out and say that they're insolvent,
and ask for help. Why are they lying now?

[SoCalDem]

11. They can hide it as long as they want to, IF re-regulation fails

or gets watered down..

[Jane Austin]

12. Have you noticed that GM

is advertising on Thom Hartmann's show and on the Daily Show?