Government Has Made $4 Billion On The Bailout, So Far

The NYT says a little less than a year after the economic meltdown, the government is starting to see a profit from banks repaying bailout money.

From the NYT:

The profits, collected from eight of the biggest banks that have fully repaid their obligations to the government, come to about $4 billion, or the equivalent of about 15 percent annually, according to calculations compiled for The New York Times.

These early returns are by no means a full accounting of the huge financial rescue undertaken by the federal government last year to stabilize teetering banks and other companies.

Of course, there is still a chance that those billions will just help to offset the huge losses incurred in other bailouts. Only time will tell.

As Big Banks Repay Bailout Money, U.S. Sees a Profit [NYT]
(Photo:Great Beyond)