Bailout profits? I don't think so.

Commenting on this article I read this morning:

http://www.msnbc.msn.com/id/32623489/ns/business-the_new_york_times/page/2/

In case all the numbers don't make much sense, let me clear it up. The US Taxpayers gave the banking industry $700 BILLION dollars. Now, as repayment comes in, the US taxpayers have 'profited' $4 Billion.

No - that does not mean the US Taxpayer has now has $704 Billion. It just means that of those who have paid back their part, $4 Billion is the interest paid. But the article further states: "But all the profits taxpayers have won could still be wiped out by two deeply troubled institutions."

The truth is, this article is terribly optimistic in this bailout repay process. If all of the money is paid back, and their is a 'profit', then I'll happily admit I was wrong. But I believe there will be no 'profit' from this bailout, other than to enhance the size of the wallets of the CEO's, who in turn will give more of 'their' money to politicians, who authorized the bailout in the first place.