UNDERNEWS

Undernews is the online report of the Progressive Review, edited by Sam Smith, who covered Washington during all or part of one quarter of America's presidencies and edited alternative journals since 1964. The Review has been on the web since 1995. See main page for full contents

September 3, 2009

TARP REVENUE A TINY PERCENT OF BAILOUT FUNDS

Pro Publica - Recent reports have drawn attention to the billions in revenue that the Treasury Department has collected from companies early in returning their TARP investments. While those returns have been encouraging, there's no question that the taxpayer remains deep in the red.

In total, $392.6 billion remains outstanding to 641 recipients ($297 billion under the TARP and $95.6 billion that's gone to Fannie and Freddie). That total excludes the 35 companies that have returned a total of $71.6 billion. . .

Put all that together, and you get a total of $12.4 billion in revenue. Compared to the $392.6 billion in bailout funds still outstanding, it's reason for cooling any thoughts, at least for now, of the taxpayer pulling a profit.

1 Comments:

Anonymous mad laughter goes here said...

a show of hands, please: how many people think that if there were any profit to be had from these stratospheric hidden toxic debts, the banksters would have let that opportunity go to the taxpayers?

September 4, 2009 1:52 PM  

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