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ProPublica has an update on the bailout.

Your August Bailout Update: $393 Billion Outstanding
by Paul Kiel, ProPublica

Recent reports have drawn attention to the billions in revenue that the Treasury Department has collected from companies early in returning their TARP investments. While those returns have been encouraging, there’s no question that the taxpayer remains deep in the red.

In total, $392.6 billion remains outstanding to 641 recipients ($297 billion under the TARP and $95.6 billion that’s gone to Fannie and Freddie). That total excludes the 35 companies that have returned a total of $71.6 billion...

That said, money is flowing in as it’s flowing out. The TARP has two main sources of revenue: quarterly dividend or interest payments and warrant redemptions. Unlike returned money, which can be used again, the Treasury is obligated to use that revenue to pay down the national debt...

Put all that together, and you get a total of $12.4 billion in revenue. Compared to the $392.6 billion in bailout funds still outstanding, it’s reason for cooling any thoughts, at least for now, of the taxpayer pulling a profit.

No profit.

by Magnifico on Wed Sep 2nd, 2009 at 01:36:51 PM EST

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