Bush administration in the fall of 2008 launched the $700 billion Troubled Asset Relief Program (TARP), a taxpayer funded bank rescue program, to help mitigate the financial meltdown. One component of the TARP was meant to lend money to buy worth of$205 billion in stocks of the healthy banks. More than 700 banks participated in it. In return, the U.S. treasury would get dividends from the banks whose shares have been purchased by the treasury.
AIG Bailout
US is thought to have made money out of its rescue of American International Group Inc. during the depth of financial meltdown. Federal government pumped in more than $182 billion to keep AIG afloat, and in exchange, owned 92 percent of the company. As the economic conditions improved gradually over time, Obama administration began to offload its stake in AIG, with the last of the shares to be sold by December 14, 2012, according to December 11, 2012, Treasury announcement. AIG CEO Robert Benmosche wrote an e-mail to employees on December 11, 2012, saying that the government had netted a gain of $22.7 billion.
ALLY Financial Bailout
Auto financing and banking company, which received about $17.2 billion in bailout infusion from the federal government at the height of financial meltdown announced on August 20, 2013 that it would pay $5.2 billion to the US treasury for the preferred stock the US government owns. With this payoff, Ally, former financing arm of the GM Motors, will have paid off $12 billion, leaving taxpayers in only $5.2 billion deep hole. The deal of paying $5.2 billion to the US treasury was achieved between Ally and the US Treasury on August 20.
AIG Bailout
US is thought to have made money out of its rescue of American International Group Inc. during the depth of financial meltdown. Federal government pumped in more than $182 billion to keep AIG afloat, and in exchange, owned 92 percent of the company. As the economic conditions improved gradually over time, Obama administration began to offload its stake in AIG, with the last of the shares to be sold by December 14, 2012, according to December 11, 2012, Treasury announcement. AIG CEO Robert Benmosche wrote an e-mail to employees on December 11, 2012, saying that the government had netted a gain of $22.7 billion.
ALLY Financial Bailout
Auto financing and banking company, which received about $17.2 billion in bailout infusion from the federal government at the height of financial meltdown announced on August 20, 2013 that it would pay $5.2 billion to the US treasury for the preferred stock the US government owns. With this payoff, Ally, former financing arm of the GM Motors, will have paid off $12 billion, leaving taxpayers in only $5.2 billion deep hole. The deal of paying $5.2 billion to the US treasury was achieved between Ally and the US Treasury on August 20.
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