US Govt Get $946M From Puerto Rico's Popular Bank

[Judi Lynn]

US Govt Get $946M From Puerto Rico's Popular Bank
SAN JUAN, Puerto Rico — Jul 2, 2014, 5:25 PM ET
Associated Press

The U.S. Treasury Department says the government has received a total of $946 million in repayment from the Puerto Rican bank Popular Inc. as part of a federal bailout program.

The treasury said Wednesday that Popular was the largest bank that remained in the Capital Purchase Program under the Troubled Asset Relief Program.

Officials say the repayment means the government recovered $1.22 billion of principal and interest stemming from an original investment of $935 million in Popular.

The announcement comes as the Treasury Department tries to recuperate the costs of a $700 billion financial bailout following the 2008 financial crisis.

http://abcnews.go.com/International/wireStory/us-govt-946m-puerto-ricos-popular-bank-24405001

(Short article, no more at link.)

[Vogon_Glory]

1. It's Good To See Taxpayers Getting Their Money Back

It's good to see taxpayers getting their money back. I believe that had TARP been continued in a Republican McCain-Palin or a Romney-Ryan administration federal laws and regulations would have been re-written to see to it that only the bank sters and oligarchs would have profited.

Seeing to it that taxpayers broke even once was a non-partisan issue. Once upon a time both progressive Democrats and some Republicans believed that and tried to practice that.

Theodore Roosevelt might not have been a progressive by most DU'ers standards, but when was the last time any highly-placed Republican said anything at all about 'Malefactors of great wealth'?