TARP REPAYMENTS REACH $181 BILLION

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TARP REPAYMENTS REACH $181 BILLION

Today: Hartford Repays $3.4 Billion; GM Repays $1 Billion

WASHINGTON – Today, the U.S. Department of the Treasury received full repayment on its Troubled Asset Relief Program (TARP) investment in Hartford Financial Services Group, Inc. in the sum of $3.4 billion, as well as a $1 billion repayment from General Motors. TARP repayments now total $181 billion, well ahead of last fall’s repayment projections for 2010.

Treasury currently estimates that its programs aimed at stabilizing the banking system will earn a profit thanks to dividends, interest, early repayments, and the sale of warrants. Total bank investments of $245 billion in FY2009 that were initially projected to cost $76 billion are now projected to bring a profit. Taxpayers have already received $14 billion through just interest and dividends and that number could be considerably higher by the end of this year.

http://www.financialstability.gov/latest/tg_04022010.html

[I AM NOT THAT GUY 5,715]

TARP REPAYMENTS REACH $181 BILLION

Today: Hartford Repays $3.4 Billion; GM Repays $1 Billion

WASHINGTON – Today, the U.S. Department of the Treasury received full repayment on its Troubled Asset Relief Program (TARP) investment in Hartford Financial Services Group, Inc. in the sum of $3.4 billion, as well as a $1 billion repayment from General Motors. TARP repayments now total $181 billion, well ahead of last fall’s repayment projections for 2010.

Treasury currently estimates that its programs aimed at stabilizing the banking system will earn a profit thanks to dividends, interest, early repayments, and the sale of warrants. Total bank investments of $245 billion in FY2009 that were initially projected to cost $76 billion are now projected to bring a profit. Taxpayers have already received $14 billion through just interest and dividends and that number could be considerably higher by the end of this year.

http://www.financialstability.gov/latest/tg_04022010.html

And already being spent by the Obama administration, instead of retiring the debts incurred by the TARP, as is current law. This further shows why Trust Fund equals Slush Fund, in the mind of our "leaders".

[alienlovechild 75]

TARP REPAYMENTS REACH $181 BILLION

Today: Hartford Repays $3.4 Billion; GM Repays $1 Billion

WASHINGTON – TARP repayments now total $181 billion, well ahead of last fall’s repayment projections for 2010.

How much was spent on TARP?

I wish I could have been big enough not to fail, reap billions in TARP money,give some back, pocket the rest and been congratulated. It's not too late. Send me a few million bucks and I promise to give you back some of the money ahead of schedule. Sound cool?

[scandal 951]

Cynics abound. And no news is good news.

VJ is obviously alive and well.

[Niels Bohr 72]

Some of the comments came from babies.

[I AM NOT THAT GUY 5,715]

Ron! You got a new fan! Maybe he could wear the sheep outfit for you.

[scandal 951]

Ron! You got a new fan! Maybe he could wear the sheep outfit for you.

I have many fans. Do you?

[one...two...tree 2,762]

Cynics abound. And no news is good news.

VJ is obviously alive and well.

[Darnell 8,478]

How much was spent on TARP?

I wish I could have been big enough not to fail, reap billions in TARP money,give some back, pocket the rest and been congratulated. It's not too late. Send me a few million bucks and I promise to give you back some of the money ahead of schedule. Sound cool?

Sorry - a 'few million' isn't big enough to play in this game.

Plus - you missed the time window.

Sorry !

[Mr. Big Dog 10,747]

How much was spent on TARP?

I wish I could have been big enough not to fail, reap billions in TARP money,give some back, pocket the rest and been congratulated. It's not too late. Send me a few million bucks and I promise to give you back some of the money ahead of schedule. Sound cool?

No, it sounds like you have no idea what you're talking about. Take the government's investment in Citi, for example. The feds beefed up Citi by buying a 27% stake in the company at $3.25/share. That was about a year or so ago. The feds are are now looking to liquidate their 27% holding in the company at somewhere around $4.15 - $4.25/share. That's roughly $0.95/share gained or a 28% appreciation of the investment in the course of a year. Net, the government would stand to gain $7.5 billion dollars on a $25 billion investment. That's an added benefit to the fall-out that a failure of Citi would have caused across the globe.

[alienlovechild 75]

No, it sounds like you have no idea what you're talking about. Take the government's investment in Citi, for example. The feds beefed up Citi by buying a 27% stake in the company at $3.25/share. That was about a year or so ago. The feds are are now looking to liquidate their 27% holding in the company at somewhere around $4.15 - $4.25/share. That's roughly $0.95/share gained or a 28% appreciation of the investment in the course of a year. Net, the government would stand to gain $7.5 billion dollars on a $25 billion investment. That's an added benefit to the fall-out that a failure of Citi would have caused across the globe.

I may not not know what I'm talking about on TARP but since you couldn't provide total TARP spending you're only a fraction of the financial sector and you're somehow trying to imply the U.S. government got an overall profit from the entire TARP. Show me the money and don't look at one company for an answer.

[Mr. Big Dog 10,747]

I may not not know what I'm talking about on TARP but since you couldn't provide total TARP spending you're only a fraction of the financial sector and you're somehow trying to imply the U.S. government got an overall profit from the entire TARP. Show me the money and don't look at one company for an answer.

Read the OP - the figures - to date - are in there. On $245 billion spent, the US government has thus far reaped a $14 billion profit. And there's more to come, such as the example I cited earlier.

[alienlovechild 75]

Read the OP - the figures - to date - are in there. On $245 billion spent, the US government has thus far reaped a $14 billion profit. And there's more to come, such as the example I cited earlier.

Why isn't this headline news if the taxpayer got back every penney and billions of dollars? Because it's not the whole story.

"But that's where the winning streak turns to a slump. A huge chunk of the TARP money was invested in insurance giant AIG and the auto industry.

Brian Bethune, chief U.S. economist at IHS Global Insight, says that of the $80 billion invested in car companies, taxpayers can only hope to get about half of it back.

"You put four quarters into the slot machine, and you only get two quarters back," Bethune says. "It's not a very good rate of return on the taxpayers' dollars."

But these potential losses pale in comparison to the investments in mortgage giants Fannie Mae and Freddie Mac. Although those two are not part of the TARP, the price tag on their bailout is $126 billion and climbing."

http://www.npr.org/templates/story/story.php?storyId=125454357

[luckytxn 2,264]

Of course not mentioned is that it is deficit money that financed TARP and there is interest payments that incurs but if they use any profits that comes to pay back the debt that was made then that is helpful but highly doubt they will use any of that to go back to the general fund. In fact the last time I looked they are projecting another record deficit........again.

It would have been much less painful to let the weak fall and the strong survive, especially in the long run. Of course Obama the Socialist wouldn't have been seen as the Saviour that the sheep see him as.