March 12, 2010

BESIDES THE HOUSE GOP, WHO IS SURPRISED BY THE SUCCESS OF THE PROGRAM?:

It's Payback Time (Daniel Gross, March 12, 2010, Slate)

When you look at the financial markets as a whole, the post-crisis bailout efforts have worked out better than expected. Many of the financial market guarantees were lifted without having been used, and the Treasury is turning a profit on the central component of the TARP. But AIG has so far loomed as a gigantic rebuttal to the optimists, a symbol of everything that went wrong.

But it turns out that the efforts to prop up AIG are also working out much better than expected. AIG still owes the Fed and the Treasury a combined $127 billion. But—surprise!—AIG is paying a lot of its debts back. And there's a not too far-fetched scenario in which we come close to breaking on our reluctant investment in the company.


Thanks, W.

Posted by Orrin Judd at March 12, 2010 2:15 PM
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