Where is the TARP money?
Where is the TARP money, anybody knows? Today I was reading an article about Treasury selling warrants back to the banks below the market price. No surprise there. But I was surprised that all of the warrants remaining in Treasury are under 10 billion. I expected them to be to the tune of a couple hundred billion.
“The report estimates the total value of bank warrants held by the Treasury at $8.05 billion, while the Treasury has recently offered a $6 billion estimate.”
So, TARP was 700 billion, we were told 100 billion was never touched; another 100 billion or so was repaid recently. That leave 500 bil, and the warrants are only for 8 bil. Where is the rest of the money? I don’t think all the remaining 490 bil are in preferred stock. I can see may be another 100 bil in preferred stock. Where is the rest of it, I ask.