Bank Bailout Earned 8.2% Profit

Check out our other sites: Political Dictionary and Political Job Hunt

October 20, 2010

Bank Bailout Earned 8.2% Profit

The federal government's bailout of financial firms "provided taxpayers with higher returns than they could have made buying 30-year Treasury bonds -- enough money to fund the Securities and Exchange Commission for the next two decades," Bloomberg reports.

"The government has earned $25.2 billion on its investment of $309 billion in banks and insurance companies, an 8.2 percent return over two years, according to data compiled by Bloomberg. That beat U.S. Treasuries, high-yield savings accounts, money-market funds and certificates of deposit. Investing in the stock market or gold would have paid off better."

via politicalwire.com

Bloomberg also notes: "Two years later TARP’s bank and insurance investments have made money, and about two-thirds of the funds have been paid back. Yet Democrats are struggling to turn those gains into political capital, and the indirect costs of propping up banks could have longer-term consequences for the economy."

This is probably because of the liberal media bias?