Many of the Fed's actions in bailing out the financial system and the players involved have proven to be good investments, according to data released today.
Nobody viewed this as an investment at the time so that is a silly way to look at it. Some of the recipients have not yet repaid so the math is incomplete. AIG, despite recent claims that it will be able to repay all the money, is still in up to its neck.
My point is that the results have not only been not bad so far, they have been good. The banking system was saved and taxpayers have seen a return on their money.
Here's an ironic twist on the subject from Tim Collins at RealMoney.com:
"What I find ironic here is that the strongest banks/holdings are being allowed to buy back the holdings from the U.S. taxpayers. In essense, the U.S. taxpayer is being forced to sell its winners and hold it losers, which at least from my experience, is not a long term winning strategy."
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Last day of August. This year is flying by.
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