Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (545616)	1/22/2010 7:42:09 PM
From: TimF	Read Replies (1) of 1575121

AIG, autos offset Treasury bank bailout profits WASHINGTON Mon Jan 11, 2010 5:16pm EST Related News * RPT-FACTBOX-U.S. bailout losses $42 bln in first year Thu, Dec 10 2009 WASHINGTON (Reuters) - U.S. taxpayer profits from bank bailout investments are being offset by estimated losses from American International Group and automakers and mortgage payment cuts for struggling homeowners, a U.S. Treasury report showed on Monday. The Treasury estimated net losses on its $700 billion bailout program at $68.5 billion for the fiscal year ended September 30, 2009. The December report for the Troubled Asset Relief Program, or TARP, showed that the fiscal 2009 net loss included estimated losses of $30.4 billion for AIG and $30.4 billion for automakers, with $27.1 billion in losses from the Home Affordable Modification Program. These were much larger than a $15 billion profit registered from the Capital Purchase Program for banks and $4.4 billion in profits from other bank investments, asset guarantee and lending programs... reuters.com

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