Bailouts brings back 10% profits

[impik]

CHARLOTTE, North Carolina (Reuters) - A government program to bail out banks at the height of the financial crisis has so far turned a profit, according to a report by investment bank Keefe, Bruyette & Woods Inc.

The Capital Purchase Program, part of the $700 billion Troubled Asset Relief Program, has generated an average return of 10 percent on the initial investment in 61 banks that have fully repaid the aid, said the report, issued on Wednesday.

"Its pretty clear that unless the economy just craters, the bank portion of TARP will be profitable," said Fred Cannon, bank analyst with Keefe, Bruyette and Woods.

http://abcnews.go.com/Business/wireStory?id=11109378

[Oregone]

1. And magically purified the toxic assets

Its magic. Poof! Instant solvency. Crisis adverted. Free sex and cocaine for everyone!