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As Big Banks Repay Bailout Money, U.S. Sees a Profit

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WE'RE RICH! WE'RE RICH!
Uhh, ok, maybe now. Turns out the government (that's us) still faces potentially huge losses from AIG, Fannie Mae, Freddie Mac and GM and Chrysler. Oh yeah, the Treasury Department also could take a hit by guaranteeing billions of dollars worth of bad mortgages. "But the mere hint of bailout profits for the nearly year-old Troubled Asset Relief Program has been received as a welcome surprise," the New York Times says. And that's why that long-term stuff is not going to stop us from celebrating prematurely, no way, bubba! We're rich!
SOURCE:   New York Times

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