Read the Bills Act Coalition

Tuesday, January 12, 2010

FED estimated net losses on its $700 billion bailout program at $68.5 billion for the fiscal year ended September 30, 2009.

From Reuters:

The Treasury estimated net losses on its $700 billion bailout program at $68.5 billion for the fiscal year ended September 30, 2009...The December report for the Troubled Asset Relief Program, or TARP, showed that the fiscal 2009 net loss included estimated losses of $30.4 billion for AIG and $30.4 billion for automakers, with $27.1 billion in losses from the Home Affordable Modification Program....These were much larger than a $15 billion profit registered from the Capital Purchase Program for banks and $4.4 billion in profits from other bank investments, asset guarantee and lending programs.
Read Here:http://www.reuters.com/article/idUSTRE60A4XU20100111

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