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The financials as we provided to banks who TARP for example.
Result in tax peering gains on track to actually reaped billions in profits twenty billion dollars we're gonna collect every -- -- that's right they're gonna collect every dime reaping billions and profits.
-- TARP inspector general reporting taxpayers stand to lose 27 billion from the financial bailout.
But they're putting two billion estimate may fifth earlier in the fall billionaire investor Wilbur Ross what he's not surprised that will -- -- -- -- -- And its original structure.
Was never set out to be on commercially.
If you look at what Warren Buffett.
Charged Goldman Sachs -- convertible preferred.
Coupon -- something like twice what the government was charging the banks and tar.
And he had a 100% equity converted bill in the not just a few warrants.
So it was faded.
-- not to be structured in a way that you could really make a profit.
-- what was a structured as was -- -- -- bail out -- was an attempt for the government to control key industries well I think goes a combination of things that certainly was a bailout.
And you can argue whether it was needed or not but the impetus clearly was bailout.
-- to the control function.
I'm not so sure that under the Bush Administration there was much interest in the control I think that tended to come in war.
With the Obama administration.
I think they've both got their own ulterior reasons for it for wanting to do TARP but they both were able to.
Molded in their own vision if you will but I think the overarching theme though.
Is that these bailouts in -- of course -- -- a lot of time and money with the media trying to convince America that they work eight we made money on them.
But that we don't necessarily need the government involved in all the stuff that we've got guys like do you sniff out opportunities all time and you have a pension.
You go after industries that people given up -- completely in I'd watch you -- industries and companies.
That continues to happen it can happen more of the government about the -- continent.
-- sure will we've done with a number of banks as you probably know we've bought into.
The turnaround -- from FDIC.
Thank -- -- -- -- down in Florida.
And eighteen months later -- was lord just I'd feel of the bank in the history of America was very very successful.
It commercially reasonable deals can be made to work.
But -- deal.
When -- -- people preferred stock at a 5% dividend rate and just get a few war it's very hard to make that work because some.
We'll go bad.
And you don't make enough for -- ones that work out in order to recoup the law.
-- the argument though is that there's some industries that.
Only the government has enough money -- can for an up enough money.
To -- on -- sort of be the savior.
But again you know -- -- view and others and industries that required a whole lot of money and -- he made it work.
Well Ireland got billions and billions and billions of dollars partly for miles.
Partly from Franklin Templeton partly from other investors.
-- can imagine that we couldn't have gotten billions and billions of dollars together the TARP.
I think there is a question when there's an emergency.
Like say in the united Julian I don't know enough about the details of did no one does arrive in that.
To know who's right.
-- if you really had to do it over a weekend.
That money couldn't be assembled over -- weekend.
Right although you know and it's also -- let's face it.
That fanning the flames of -- makes it the urgency that much greater.
Give you aren't discussing though the role private in this industry and -- private you know commercial.
Money raising and in an amazing opportunities in this country.
And you know you're now focused on on maritime -- Right.
-- maritime transport and show guests from the both quite into related.
America's blessed with having huge reserves of shale gas.
That can that be exported.
If permits are granted by the federal government.
We will only granted one listens to -- that we institution -- for the say blind river project right.
-- something like sixteen others that have been pending for a couple of years.
Best way -- overcome the negative gross domestic product figures that we've just -- Would be to encourage the exploitation of shale gas both for domestic and for -- -- national purposes.
You know and I and I get -- tell you know I've seen just how few permits have been allowed them federal lands for drilling -- natural gas and oil.
To your point on the -- has -- this okay so far.
All the liquid natural gas story is such and it got -- in such an American miracle that it's amazing and I I'm shocked the government and even administration that the bill Ford with it.
And and that maybe just try to regulate and attacks in squeeze money out of -- so they can apply to their pet projects like wind Windmills and solar panels and things like that will.
You know blue -- he's worried that that shale gas will drive the price of electricity down and make.
-- power and wind power even more un economical than they are but the truth is that the both could -- us.
You could use the natural gas to be very economical for you -- power -- -- And then to the degree that wind and power available but that we have supplement.
Every want to take a victory lap America would make a lot of money we win the import oil we would keep the trillion dollars create a lot of -- and well my guess euros in -- right place at the right about -- things -- appreciate it yeah.
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