That and all the GM stock the government holds, which it will never be able to sell for enough to break even on the bailout to GM. If I remember, the breakeven price was around $130/share, and it has gone up on the remaining shares as the government has sold some of that stock.
Toddsterpatriot wrote:
The only losing items will be Fannie and Freddie, the auto makers and the mortgage forgiveness parts.
In reality, most of the TARP funds were squandered and lost. The "loan" that GM repaid was only $6.1 billion. And they used "TARP Capital funds" from stock sales to pay back that money, essentially paying a TARP debt with TARP bailout funds. They received much more than the loan in bailout through stock purchases by the government. And those shares will never be worth what was paid for them.
Seems like I remember the CBO estimated the losses on TARP funds put into automakers (all of them) at around $34 billion.
Other TARP expenditures also lost money (a lot of money), in spite of claims that they "turned a profit." The aleged profits are usually smoke and mirrors and accounting trickery when you start digging into the claims that the government "made money" on the deal.
That and all the GM stock the government holds, which it will never be able to sell for enough to break even on the bailout to GM.
Yes.
In reality, most of the TARP funds were squandered and lost.
What do you mean "most"?
Other TARP expenditures also lost money (a lot of money), in spite of claims that they "turned a profit."
The Treasury sold the preferred stock back to the banks and some of the warrants to the public. They've gotten back more money, in total, than they invested in the bank stock.
The aleged profits are usually smoke and mirrors and accounting trickery when you start digging into the claims that the government "made money" on the deal.
Please show me the results of your "digging".