Home > Uncategorized > Washington’s Blog – No, The Big Banks Have Not “Paid Back” Government Bailouts and Subsidies

Washington’s Blog – No, The Big Banks Have Not “Paid Back” Government Bailouts and Subsidies

From Washington’s Blog:

No, The Big Banks Have Not “Paid Back” Government Bailouts and Subsidies

The big banks claim that they have paid back all of the bailout money they received, and that the taxpayers have actually made money on the bailouts.

However, as Barry Ritholtz notes:

Pro Publica has been maintaining a list of bailout recipients, updating the amount lent versus what was repaid.

So far, 938 Recipients have had $607,822,512,238 dollars committed to them, with $553,918,968,267 disbursed. Of that $554b disbursed, less than half — $220,782,546,084 — has been returned.

Whenever you hear pronunciations of how much money the TARP is making, check back and look at this list. It shows the TARP is deeply underwater.

Moreover, as I pointed out in May, the big banks have received enormous windfall profits from guaranteed spreads on interest rates:

Bloomberg notes:

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