April 14, 2012
THANKS, W!:
U.S. likely to make a profit on bailouts, Treasury says (Jim Puzzanghera, 4/14/12, Los Angeles Times)
Over the next 10 years, the taxpayer-funded bailouts could produce as much as $163 billion in profits, in a best-case scenario, from repayments, stock sales, dividends and interest paid by banking and insurance firms, auto companies and mortgage finance companies.That's a stark turnaround from predictions of hundreds of billions in losses in the immediate aftermath of the unprecedented aid, starting at the end of the George W. Bush administration.
The only danger of TARP was always that it was going to work so well that it would justify future government intervention.
Posted by Orrin Judd at April 14, 2012 8:41 AM
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