TARP, unlike the 900 billion stimulus fund - actually appears to have worked, and the American people are making money off of it.
While I don't agree with the size and scope of TARP, at least it appears we will get our money back - with interest.
Not so with the slush-fund stimulus boondogle that was all Obama and the Dems...
____
Despite being widely hated, ridiculed and otherwise smacked down by the public, the $700 billion dollar TARP program may turn out to be the best investment the taxpayer made all year.
The folks over at Bianco Research (run by Jim Bianco, one of the smartest and most respected bond analysts in America) published a note today called "Tracking the Trust Cost of the TARP." This is their conclusion:
The Treasury infused $247.26 billion into 184 companies over the span of the credit crisis. In exchange for these bailouts, the Treasury received securities that are currently valued at $255.10 billion. This means the TARP bailouts have actually turned a profit for U.S. taxpayers as of this writing. After factoring in the current value of the securities the Treasury received in exchange for its bailout money, the Treasury has turned a net profit of $7.84 billion for a 3.17% return on investment over the period
Gasp! Horror! The Government is MAKING Money on the TARP? The Brian Sullivan Blog
Read more:
Gasp! Horror! The Government is MAKING Money on the TARP? The Brian Sullivan Blog