NPR logo

Government's Bank Bailout Program Turns A Profit

  • Download
  • <iframe src="https://www.npr.org/player/embed/135002312/135002379" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Government's Bank Bailout Program Turns A Profit

Business

Government's Bank Bailout Program Turns A Profit

Government's Bank Bailout Program Turns A Profit

  • Download
  • <iframe src="https://www.npr.org/player/embed/135002312/135002379" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The government's decision to bail out banks during the financial crisis turns out to have been a good one. 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.

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.

Copyright © 2011 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.