Rollin' Up the TARP

When I'm working, yes I know I'm gonna be
I'm gonna be the man who's working hard for you
And when the money comes in for the work I do
I'll pass almost every penny on to you
--The Proclaimers

Treasury Secretary Tim Geithner proclaims that US gov't will see profits as big banks pay back TARP funds. Don't hold your breath for a dividend or capital gains check in the near future.

As usual, such a proclamation does not tell the whole the story.

The TARP project was only one of many initiatives floated to keep the financial system from coming unglued (think massive bank run). The cost of those other initiatives, such as gov't backing of bank deposits and printing dollars to shore up bank balance sheets, amount to $ trillions.

US citizens will not be getting all that back anytime soon.

position in USD