CNBC’s Steve Liesman picked up an interesting tidbit on Tuesday. He says if you’re among the millions worried that the government is squandering your money with the TARP – then think again.
The TARP program is in the black.
According to a Bianco research note published by Fox, “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.”
The research note also says, ”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.”
Liesman says he's crunched the numbers, too. And after pouring over the calculations he also concludes “the TARP is at a range that suggests the banks didn’t get such a bad deal and the tax payers didn’t get such a bad deal, either.”
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CNBC.com with wires