Treasury almost in the black on bank bailouts

[sufrommich]

The Treasury Department said Wednesday the government is close to breaking even on reviled bank bailouts made under the Troubled Asset Relief Program (TARP).

The Treasury announced Wednesday that Fifth Third Bancorp has paid back the $3.4 billion it received under TARP, which nearly puts the government in the black on TARP's bank investments.

In addition, it anticipates taxpayers will ultimately earn a $20 billion profit on TARP's overall bank assistance.

“We expect that the programs within TARP to provide direct financial support to banks will provide a profit for taxpayers, and today’s repayments move us even closer to achieving that result,” said Tim Massad, the Treasury's acting assistant secretary for financial stability. “As the economy heals, we’re continuing to see private capital step up and replace public support in the financial sector, which has dramatically lowered the cost of TARP for taxpayers.”

http://thehill.com/blogs/on-the-money/banking-financial-institutions/141815-treasury-almost-in-the-black-on-bank-bailouts

[Newest Reality]

1. There are different views on this ...

"As the economy heals," Yeah, like the stump after you have had an amputation.

[Democrats_win]

2. What about the cost of all the unemployed? Will they pay that back?

The U.S. government paid quite a bit of money to those who were unemployed as a result of the bankster's bubble. Without question, the banksters need to start making payments on that.

[xchrom]

3. something of a rebuttal here

and more funny than most economic reports.

http://www.commondreams.org/further/2011/01/28-2
Banking 101: When You Get the Bailouts, You Don't Care About the Shame

by Abby Zimet

They're back! Another great, lucid, hilarious video from Omid Malekan, wherein these two guys explain bank bailouts, "too bigger-er to fail," and why Goldman Sachs, unlike other banks, didn't buy more banks with its new stash of taxpayers' money: "Because when you already own the US government, you don't need to buy any more banks." "Is this some kind of sick joke?" asks one dismayed guy. The answer, essentially: Yes.

"That does not sound like the gratitude, that sounds like the screwing of the American people."

[ixion]

4. Great. When can I expect my dividend check?

Never? Yeah, that's what I thought.