Geithner says taxpayers to earn "healthy profit" on TARP:

12/15/2009 | Reuters

As Citigroup and Wells Fargo plan to repay funds they received through the Troubled Asset Relief Program, Treasury Secretary Timothy Geithner said the government was about to reduce its emergency investment in financial institutions more than 75%. The banks' TARP exit will also result in a "healthy profit" for the government, he said. "While much work lies ahead to improve lending and spur job creation, the news from Wells Fargo moves us closer to winding down the government's unprecedented involvement in the banks," a Treasury spokesman said.

View Full Article in:

Reuters

Published in Brief: