Treasury: 99% of TARP investments paid back

Citi, one of the hardest hit banks during the credit crisis and recession, received a total of $45 billion in bailout money, one of the largest rescues in the program. Of the $45 billion, $25 billion was converted to the government’s ownership stake in the bank. The Treasury paid $3.25 a share for its stake.

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The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase toxic assets and equity from financial institutions to strengthen its financial sector that was passed by a Democratic Party controlled Congress and signed into law by Republican Party President George W. Bush on October 3, 2008.

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David Miller, Treasury’s chief investment. have been made. TARP, launched by the George W. Bush administration and continued by the Obama administration, has been a source of mostly good news.

The TARP. The Treasury has been earning a return on most of the TARP money invested or loaned. So far, the total return is: $52.5B. The main sources of that revenue are $ 23.1 billion through dividend or interest payments, $ 20 billion from sales of equity or other assets that Treasury acquired (mostly stock in Citigroup);

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Traditional retirement planning advocates for low-risk investments. that the bottom 99% do not have $1mm nest eggs. This number may be artificially low as they could have money in other account.

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(Treasury) enormous latitude to spend the money, and provided ambiguous and, some. TARP funds that have been spent and not repaid.6. The controversy.

Still, the fact that some banks refinanced their initial TARP investments by borrowing from other federal government programs undercuts the Treasury Department’s claim that the government has made money from TARP, wrote Matt Stoller, a fellow at the Roosevelt Institute and a former senior policy advisor to former Democratic Florida Rep. Alan.

All told, the Treasury sent $245 billion to banks, and as of yesterday has been paid back $244 billion. Marketplace’s Mitchell Hartman reports.

 · Treasury’s TARP investments and overall stake in AIG, purchase of mortgage-backed securities, and Money Market fund guarantee program are each currently expected to realize an overall positive return for taxpayers."A week later, along came a congressional report by SIGTARP (The Office of the Special Inspector General for the TARP) pouring ice.

Despite the greater scrutiny and strings that come with accepting government money, PrivateBancorp Inc. is in no rush to repay the $244 million it received under the U.S. Treasury Department’s.

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