Go Finance Reporting in WASHINGTON - The U.S. Treasury said the investment program established during the financial crisis is not healthy in order to buy assets from banks, shows the advantage of USD1, 7 billion.
Thus was launched from the AP on Saturday (04/23/2011). The Ministry itself has prepared a fund amounting to USD22, 1 billion from tax for public-private Investment Program, established in March 2009.
The funds are then invested in securities, mortgages and other financial assets. The goal is to take troubled assets from large banks are facing losses due to mistakes in real estate investing.
Ministry of Finance of the United States alone has received more than $ 500 million in dividends and other gains from investment, and share the Government Securities (SBN) has issued also increased by $ 1, 2 billion.
While based on U.S. Treasury report on the status of the fund each quarter, the fund is managed by private investment firms, including AllianceBernstein, Blackrock Inc. and Invesco, and investment companies are recorded at $ 7, 4 billion.
In addition, the U.S. Treasury registered granted loans worth USD 14.7 billion. The fund has used the U.S. Treasury to bail-out amounted to USD700 billion, according to fund aid programs for troubled assets
Ministry of Finance of the U.S. alone expects to make profits in their efforts to make bail-out. For example, the U.S. Treasury listing has received USD12, 3 billion from USD45 billion invested in Citigroup and may record similar gains on investments of American International Group.
However, many observers have pointed to the benefits they are too risky, the article of private investors, such as billionaire Warren Buffett, demanding higher interest rates when lending to banks and investment firms during the financial crisis.
But at the congress last month noted that the administration had little use bailout to prevent foreclosures. (GoFinance)
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