Treasury turns $25 billion profit from mortgage securities
This final note today, a bit of context on a news item you may have heard, that the Treasury Department is $25 billion in the black from its investment in mortgage-backed securities it bought during the financial crisis. Toxic assets is another word.
The $25 billion is a profit. But it’s best to remember the money Treasury shelled to buy ’em isn’t all that was spent during the crisis. There’s billions that were invested in AIG and car companies and Fannie Mae and Freddie Mac as well.
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