July 5, 2011

HAVE YOU THANKED W TODAY?:

Bank of Montreal Repays $1.7 Billion in TARP to Treasury ( Cheyenne Hopkins , 7/05/11, Bloomberg)

The U.S. Treasury Department said today that Bank of Montreal repaid $1.7 billion following its acquisition of Marshall and Ilsley Corp.

Bank of Montreal repaid the $1.7 billion in Troubled Asset Relief Program capital, purchased warrants for common stock of the bank for $3.3 million and paid dividends totaling $11.9 million.

The Treasury said with today’s capital repayment, TARP proceeds total approximately $255 billion, exceeding the original $245 billion investment in those programs. The Treasury said it estimates the program will provide approximately $20 billion to taxpayers.


Unless you're on the Right, you recognized all along that the main danger of TARP was that it would succeed so well that it could justify massive intervention in the economy even when net required to avert a Depression.

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Posted by at July 5, 2011 5:19 PM
  

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