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Bank bailout turns a profit
"We still have more work to do repairing the damage caused by the crisis and strengthening the recovery, but today is an important milestone in our efforts to recover taxpayer dollars as we continue winding down TARP,"
- Treasury Secretary Tim Geithner
Don't look now, but the bank bailout is starting to turn a profit. The Treasury Department announced Wednesday that the money it gave to banks during the financial crisis has been paid back, and then some.
he bank bailout -- part of the Troubled Asset Relief Program -- is now $6 billion in the black, a profit that might ultimately rise to $20 billion, according to the Treasury.