Mortgage bailout now profitable for taxpayers

[edthecynic]

Fannie Mae-Freddie Mac bailout now profitable for taxpayers - Feb. 21, 2014

U.S. taxpayers have recouped all of the $187 billion they gave mortgage giants Fannie Mae and Freddie Mac in one of the most expensive bailouts of the financial crisis.

The milestone was reached after Fannie Mae reported Friday it will pay Treasury an additional $7 billion in profit from the end of last year.
Beginning in late 2008, the federal government bailed out the two firms that had become nearly the only source of loans for American home owners. With the payment announced Friday, the payments from the two firms now comes to $192 billion.

 

[edthecynic]

Fannie and Freddie are not the only firms that were bailed out that payed back more than they received.
Taxpayers also made a $22.7 billion profit on the bailout of insurer AIG (AIG, Fortune 500). The TARP bailout fund also received about $22 billion more than it gave to the nation's banks, with the biggest profit in the banking bailout coming from Treasury's sale of Citigroup (C, Fortune 500) shares.

 

[Rshermr]

Yup. Good topic. We finally get to see the actual results as opposed to all of the breathless charges saying how much Tarp cost. Stupid charges with political motivation.
The only real cost was to the auto companies, at about $10B to GM and $1.3B to Chrysler. Not the $80B as charged by the cons, or the $40B, or the $25B. For $10B the auto industry was saved, and over a million jobs were preserved. Yet they still squeal like stuck pigs.

 

[edthecynic]

Yup. Good topic. We finally get to see the actual results as opposed to all of the breathless charges saying how much Tarp cost. Stupid charges with political motivation.
The only real cost was to the auto companies, at about $10B to GM and $1.3B to Chrysler. Not the $80B as charged by the cons, or the $40B, or the $25B. For $10B the auto industry was saved, and over a million jobs were preserved. Yet they still squeal like stuck pigs.

And that loss was more than offset by the $22.7 B profit from AIG and the $22B profit from TARP.