Tag Archives: Three Banks Return $22 Million In TARP Funds

Daniel Gross – Contrary Indicator – Three Banks Return $22 Million In TARP Funds – 12 June 2012

Nearly four years after the Lehman Brothers debacle, the government rescue efforts and bailouts continue to wind down. The central component of the TARP was the Capital Purchase Program (CPP), under which Treasury purchased preferred shares in hundreds of banks and received warrants in return. Banks started to return the capital in June 2009, with the largest institutions repaying first. In all, CPP recipients took public funds. Banks have returned $190.26 of that capital. Add in dividends ($11.68 billion), gains on the sale of Citigroup common stock ($6.85 billion), and funds received from the sale of warrants ($7.67 billion) and the CPP has turned a “profit” thus far of about $11.6 billion. (Here’s the most recent TARP summary). Continue reading