TARP investment in banks repaid with profit

[babylonsister]

TARP investment in banks repaid with profit
By Peter Schroeder - 03/30/11 04:00 PM ET


The portion of the Troubled Asset Relief Program (TARP) that went to banks has now turned a profit for the federal government, the Treasury Department announced Wednesday.

After receiving $7.4 billion in TARP repayments Wednesday, the Treasury has now received $251 billion from banks participating in various bailout programs, which is good for a $6 billion profit from the $245 billion originally handed out to banks. The department now estimates that bank investments under TARP will ultimately net taxpayers roughly $20 billion in profit.

Furthermore, the Treasury estimates that all the TARP programs combined — including money doled out to banks, insurance company American International Group (AIG) and domestic auto companies — will result in "little to no cost to taxpayers."

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http://thehill.com/blogs/on-the-money/banking-financial-institutions/152835-government-now-turning-a-profit-on-tarp-investment-in-banks