Capital Markets U.com » TARP http://capitalmarketsu.com Investor Education for Main Street America Wed, 08 Sep 2010 23:42:48 +0000 en hourly 1 http://wordpress.org/?v=3.0.1 TARP profit claim bugs skeptics http://capitalmarketsu.com/526/tarp-profit-claim-bugs-skeptics-aug-4-2009 http://capitalmarketsu.com/526/tarp-profit-claim-bugs-skeptics-aug-4-2009#comments Tue, 04 Aug 2009 16:18:02 +0000 Charles L. Stanley CFP® ChFC® AIF® http://capitalmarketsu.com/tarp-profit-claim-bugs-skeptics-aug-4-2009 Geitner2_150The Treasury Department’s bank investments are paying dividends. But saying they have earned $6 billion for taxpayers, as Tim Geithner did, is a stretch. Tim Geithner may have jumped the gun by saying taxpayers have earned money on TARP.

NEW YORK (Fortune) — The markets are on a roll, but it’s still a tad early for Treasury Secretary Tim Geithner to be counting his bailout winnings.

Geithner said this past weekend that taxpayers have made a small profit on their investments in banks via the Troubled Asset Relief Program. “We’ve already earned about $6 billion for the taxpayer on those investments,” Geithner said Sunday on ABC’s “This Week.”

The claim seems to reflect regular payments banks have made since Treasury rolled out the TARP last fall.

Treasury didn’t return a request for comment, but the agency had received $6.85 billion in bank dividend and interest payments through June…

For the rest of the story…

TARP profit claim bugs skeptics – Aug. 4, 2009

Posted using ShareThis

]]> http://capitalmarketsu.com/526/tarp-profit-claim-bugs-skeptics-aug-4-2009/feed 0