Wonders never cease

Turns out that the government isn't going to lose too much money on all that money it lent out over the past year:

The Treasury Department expects to recover all but $42 billion of the $370 billion it has lent to ailing companies since the financial crisis began last year, with the portion lent to banks actually showing a slight profit, according to a new Treasury report.

Get that: the Feds are actually making money on the billions that were loaned to banks.

And despite the common perception (it's certainly been mine) that the Obama administration has continued to funnel money to the financial industry, it turns out that the vast majority of dollars were loaned during the last months of the Bush presidency. Since Obama's inauguration, the government has only lent a mere $7 billion from the TARP program... hundreds of billions of what was authorized was never touched.

Talk about a nice fat line of credit... let's take a trip. ;-)