Government's Bank Bailout Program Turns A Profit
LINDA WERTHEIMER, host:
Our last word in business is the red and the black.
The government's decision to bail out banks during the financial crisis turns out to have been a good one, if you judge by the numbers. Yesterday, officials said banks have been paying back the loans and the government is now $6 billion in the black. Treasury Secretary Tim Geithner said taxpayers could eventually net more than $20 billion.
But before you suggest more bailouts, bear in mind that taxpayers haven't exactly been made whole. The government could still lose tens of billions on its bailouts of GM and Chrysler and other non-banks it saved during the crisis.
And that is the business news on MORNING EDITION from NPR News. I'm Linda Wertheimer.
RENEE MONTAGNE, host:
And I'm Renee Montagne.
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