Paulson Makes Fast Money
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