Treasury: TARP has generated at least $16B in profit so far December 24, 2009Posted by Judy in BankNotes, Emergency Economic Stabilization Act, TARP.
Tags: BankNotes, Emergency Economic Stabilization Act, TARP
With Citigroup and Wells Fargo repaying a total of $45 billion in funds they received through the Troubled Asset Relief Program, the total amount repaid to the program now stands at $164 billion, according to the Treasury Department. By the end of 2010, total repayments should exceed $175 billion, the Treasury estimated. “Taxpayers have already received over $16 billion in profits from all TARP programs and that profit could be considerably higher as the Treasury sells additional warrants in the weeks ahead,” the department said in a statement. MarketWatch (12/23) , Reuters (12/24) , The Wall Street Journal (12/24)