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U.S. Forecasts Smaller Loss From Bailout of Banks
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| Contributor | RP |
| Last Edited | RP Dec 07, 2009 02:45pm |
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| Category | Report |
| Author | JACKIE CALMES |
| Media | Newspaper - New York Times |
| News Date | Sunday, December 6, 2009 08:00:00 PM UTC0:0 |
| Description | The Treasury Department expects to recover all but $42 billion of the $370 billion it has lent to ailing companies since the financial crisis began last year, with the portion lent to banks actually showing a slight profit, according to a new Treasury report.
The new assessment of the $700 billion bailout program, provided by two Treasury officials on Sunday ahead of a report to Congress on Monday, is vastly improved from the Obama administration’s estimates last summer of $341 billion in potential losses from the Troubled Asset Relief Program. That figure anticipated more financial troubles requiring intervention. |
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