Thread: Treasury nets $30.1 million from SunTrust bailout loan

Treasury nets $30.1 million from SunTrust bailout loan

Updated 8h 15m ago Comments 6

WASHINGTON (AP) – The Treasury Department says it has sold nearly 18 million warrants it holds in Atlanta-based SunTrust Banks. The sale helped the government recoup taxpayer money from the $700 billion Wall Street bailout.

The department says it will receive $30.1 million from the sale. A warrant gives the purchaser the right to buy SunTrust stock (STI) at a specified price.

SunTrust said Friday that it bought 4 million of the warrants. Treasury didn't identify the other buyers.

Sun Trust received $4.85 billion from the federal government in the fall of 2008, at the height of the financial crisis. The bank repaid the money in March.

The sale of the warrants gives the Treasury an additional return on its loan.

http://www.usatoday.com/money/industrie ... 50529884/1

What difference does it really make, the Democrats will spend it before it hits the bank or the FED will send it to Europe. JMO

Originally Posted by Newmexican

What difference does it really make, the Democrats will spend it before it hits the bank or the FED will send it to Europe. JMO

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Plus, that $700 billion bailout is missing a few trillion. Much of it went to overseas banks.