Inform The Pundits!

Slipping through the cracks yesterday is a progress report from the U.S. Treasury Department on the overall cost to taxpayers of the bailouts of the big banks.

Remember that? You should. It spawned both the Tea Party and Occupy Wall Street movements. Big bank bailouts were universally hated. Discontent spread all across the land.

As a taxpayer, how much do you think the bailouts of the big banks cost you?

Yesterday’s report answers that question. It is called:
An Update on the Wind Down of TARP’s Bank Programs
– Timothy G. Massad, Assistant Secretary of Financial Stability, 12/18/2012

The surprise!

The big bank bailouts didn’t cost taxpayers one single penny. In fact, as of right now, taxpayers have raked in a profit of $23 billion.

Taxpayers made 9.4% in total interest profits from their involuntary bank investments.

How often do you know of that a government program actually…

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