Reports: $4 billion profit from bailout banks – but commercial real estate may create new crisis
August 31, 2009
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6 Responses to “Reports: $4 billion profit from bailout banks – but commercial real estate may create new crisis”
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It is important that we prevent lawmakers from using this newfound “profit” to fund a new bailout. Barney Frank of MA has proposed “TARP for Main Street” to help prevent unemployed homeowners from foreclosure. The profit should be used to offset debt and mitigate future losses to the Treasury and Fed that are surely on the way.
It’s good news that the federal reserve has made $4 billion from fees and interests profits, and $14 billion profits from loan programs. But these amounts seem puny compared to the $700 billion outstanding in commercial-mortgage-backed security loans.
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