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Whenever someone trots out the administration’s line that TARP was a success because the government is likely to make a profit on the bank bailouts, I reply with a hypothetical. The government could have also “bailed out” a perfectly healthy, up-and-coming company like Google in October 2008, and would have realized a huge profit by now. But that doesn’t mean it would have been a good thing to do. 

Now it seems, however, that that scenario might not be so hypothetical after all.  

View all comments (3) |

Ken (Old Texican)| 1.6.11 @ 5:10PM

Joseph,
Frankly, the only specific problem I have is that the article was written in the NY Times.

I have learned to distrust EVERYTHING in the Times.
Go ye therefore and do likewise.

Clint| 1.6.11 @ 10:18PM

Wall Street Journal:
"Facebook Chief Executive Mark Zuckerberg has said he is in no rush to go public, but those intentions have been hotly contested since the company launched an equity offering of as much as $1.5 billion through Goldman Sachs Group Inc. earlier this week.

Frenzied investor interest in the deal, offered solely to Goldman partners and handpicked clients of the securities firm, has put a stamp of approval on the $50 billion valuation of Facebook implied by its agreement with Goldman and Digital Sky Technologies for a $500 million infusion from the two companies."

spogee| 7.19.11 @ 7:07PM

Fun time...Have a look at this collection of funny Facebook Status .

More Blog Posts by Joseph Lawler

http://spectator.org/blog/2011/01/06/the-successful-facebook-bailou

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