Pittsburgh Summit Blog: Talks Underway in Pittsburgh

The Pittsburgh Summit 2009

Talks Underway in Pittsburgh

By Summit Bloggers | Friday, September 25, 2009 | 12:30 PM EST | 4 comments

President Barack Obama talks with Chinese President Hu Jintao during the morning plenary session of the G-20 Pittsburgh Summit at the David L. Lawrence Convention Center in Pittsburgh, Penn., Sept. 25, 2009. [Official White House Photo by Pete Souza]

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Nathaniel in Pennsylvania writes:

There was an article recently in, I think, the New York Times, about how banks are beginning to repay some of the bailout loans they received last year. The Times reported that, on those loans, the U.S. government has seen an annualized return somewhere around 15 percent. That money goes to the treasury, which is, in effect, the peoples' money. This is not to say that we'll see such a return on all the money the government loaned out, but these numbers far exceed the expectations most analysts had (I think they were predicting 5 percent).

Further, the last major bailout the U.S. made (the S&L scandals of the 80s) resulted in a net profit for the government. It's trendy to poo-poo bailouts like this, but the devil is in the details. Before we discount these actions entirely, let's take a deeper look into the actual outcomes.

Posted on Sat Sep 26, 2009

Patrick in Maryland writes:

Hello, People of the G-20

I hope the foreign Ministers are injoying their visit to our country. Keep working to solve our Issues, i know your up to the challenges that we're facing

.

...Have..A..Great..Weekend Cya

Posted on Fri Sep 25, 2009

Albrecht in Antigua and Barbuda writes:

Protest is illegal. Go back to sleep.

Posted on Fri Sep 25, 2009

Nick in Italy writes:

Please take a look at the opinion of BBC audience in respect to the dreadfull uselessness that these political meetings communicate to all of us, that are striving for our wage, if we have one, because of all of you that have been in power all these years, all shamefully unaware (?) of the disasters of totally free and greedy wild west cowboy capitalism. Now, the only thing we citizens want to know is:
WHAT DO WE GET BACK IN THE DEAL FOR ALL OUR TAXPAYERS MONEY GIVEN TO THE BANKING FAILURES? WHO NEGOTIATED FOR US, MR OBAMA? We paid good money, didn't we? That money was the blood and sweat of our sleves, wasn't it? Not simple junk papers. I am sure that if i pay something with good money, I must have some good stuff in change. If I pay a company to save it from failure, I want the shares. Why dont' we have the shares of our central banks, please? After the robbery of the junk papers that cost private investors and pension funds trillions of dollars, now we have the great swindle of all the worlds taxpayers. Do you want to be remembered for this? See BBC audience in their comments, and tell me the truth. Good luck to you and to all of us.

We ask you to do something about it, Mr President Obama, because the Bank of China is already of the Chineese People, no? Are we all less than the Chinese people? Because if we citizens, through our States, dont have a strong grip on finance, to counterbalance speculation, a huge inflation will corrupt and destroy everything in few months, dont' you think so? Its a question of power, not only of numbers. Thank you.

Posted on Fri Sep 25, 2009

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