By the way, you know that big bank bailout that the pundits and Tea Party are still screaming about as an example of government waste and increasing the debt?
It turns out that the Troubled Asset Relief Program has actually made money for the government — $25.2 billion actually. That’s a 8.2% return over two years (more than what US Treasury bonds pay, although that comparison is a bit dicey since the TARP investment was presumably a bit more risky than US bonds).
And in the name of fairness, I want to point out that many of the people who were complaining about the TARP program blamed it on Obama, when the program was established in October 2008, before Obama was even elected. It is ironic that now that the program is considered to be a success, their efforts might mean that Obama will get the credit for it.
Naw… That will never happen. I’m sure they will now hypocritically trumpet TARP as something the Republicans did right.