September 02, 2009 07:20 PM UTC

Whaat?! TARP bailout money is being repaid - with profit?

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• by: MADCO

(I was not a huge fan of the bailout either, but there is no question that it’s being managed better by Bernanke/Geithner than Bernanke/Paulson. – promoted by ThillyWabbit)

As Big Banks Repay Bailout, U.S. Sees Profit

August 31, 2009, 3:57 AM

See http://dealbook.blogs.nytimes….

All the headline grabbing overhyped politicization of the TARP was that the taxpayers should kiss their money good bye because the Bush administration determined- correctly – that the banks needed saving.

Another round of wailing and complaining after January when the Obama administration – correctly- steered the bank saving boat to calmer waters.

Is it over? no

Could there still be losses? Of course.

But intervention to  save  the banks was the right move and all the dire predictions about nationalized banking just a bunch of bs.

As banks get more and more stable, the overall stability of the economy will follow.  I hope this time the recovery is led by US corporations and entrepreneurs not American consumers, but any recovery is a good thing.