Your Bailout Update: $315 Billion in the Red

[Donnachaidh]

http://www.propublica.org/ion/bailout/item/your-bailout-update-315-billion-in-the-red-mar-2010

After shrinking for several months, taxpayer exposure to the bailout jumped in February, due to Fannie Mae’s receiving another $15.3 billion.

The toll stands at $315.3 billion. That number accounts for not only the bailout money still outstanding, but also the revenue that the government has collected from recipients. Included in that revenue is $1.5 billion the Treasury Department received last week <1> for its auction of Bank of America’s common stock warrants. Altogether, the government made a profit of about $4.6 billion <2> through its investment in Bank of America.

Check out our frequently updated Bailout Scorecard for the complete rundown <3>. Our comprehensive list of bailout recipients <4> accounts both for the TARP and the separate bailout of Fannie Mae and Freddie Mac. All told, the government has lent, invested or spent about $515 billion in the bailout so far.

The Treasury has pumped a total of $75.2 billion <5> into Fannie since the government takeover in September 2008. Together with money invested in Freddie <6>, the total comes to $125.9 billion <7>. Freddie has continued to take losses <8>, but hasn’t required more government money since last May.


More at the link above ---

[NJmaverick]

1. So in a year the amount it cost the taxpayers has been cut by over half

that is certainly good news.

[Turbineguy]

2. Fannie and Freddie

were run into the ground during the Bush years. We knew there would be a variety of problems when Bush became president. It will take many years to pay off what was embezzled by Bush's friends. That's how it is.