As I have repeatedly written on this site, without regard to other benefits associated with the Troubled Asset Relief Program (such as avoiding a further collapse of the global financial system), the TARP program, and particularly the Capital Purchase Program, was profitable for the U.S. Taxpayer. As a banking lawyer and son and grandson of community bank presidents, I’ll concede that I’m biased. But the numbers speak for themselves.
Even ProPublica acknowledges that TARP was profitable.
Overall, the TARP remains in the black, though just barely.
What does ProPublica means by “barely” profitable? Apparently, “a narrow profit of about $1 billion.”
I hate it when I only have a billion dollars in profit. That’s $1,000,000,000.00 to put it in context.