I just knew we should have invested in Franklin Mint Plates – no one ever listens to me. The government could have made a killing buying limited edition Who’s the Boss commemorative plates* – but nooooo, the government had to “invest” TARP funds in the CIT Group.
In the treasury report released a couple days ago the government indicated the loss [on the loan to CIT] at $2.3 Billion. The loan was an effort to save the failing company which ended up declaring bankruptcy in December 2008.
However all is not lost…
So far Treasury has recovered two-thirds of TARP investments in banks and earned $17 billion in income from those investments. – oh, and one plate sent in by Mrs. Gladice Milson of Wells, NV.
*SPECIAL DISCLAIMER: I made up Gladice Milson. As far as I know, Who’s the Boss commemorative plates do not exist. Please do not try and buy them or send me hate mail if they actually do exist. Any investment in Franklin Mint plates is not recommended by the Godfather. Investment has risk. So do plates (they fall on the ground and break).
Fine, I suppose this is where you look for some witty insights to my mind. A "bio" of sorts. Here is the deal... I ride motorcycles, smoke cigars, golf, kayak, fly, race my car through the mountains, write (a lot), and travel extensively. I am almost old enough not to care what other people think about me...almost. ~Godfadr
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