2012-09-12turnto23.com

``Treasury has also written off losses of about $2.8 billion in other TARP money given to smaller banks and financial firms, with most of that -- $2.3 billion -- due to the CIT Group bankruptcy.

But far bigger than any bank bailout were the billions given to mortgage finance firms Fannie Mae and Freddie Mac, whose bailouts took place outside of TARP.

Together they received $187.5 billion. Treasury has received $45.7 billion in dividends from the firms, and made an estimated $25 billion profit on the sale of mortgage-backed securities during the last year. It is also due to receive all future profits from the two firms. But even with that, the losses from bailing out those firms could dwarf what was lost on the rest of the finance sector.''


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