Government expects lending fund to turn taxpayers a profit
February 7th, 2012
08:06 AM ET
3 years ago

Government expects lending fund to turn taxpayers a profit

New York (CNNMoney) – An Obama administration lending program set up to funnel cash to small banks was expected to cost taxpayers $1.3 billion. Instead, it will turn a profit of $80 million.

But the turnabout isn't all good news: The Treasury Department's Small Business Lending Fund helped far fewer banks than Congress intended.

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Filed under: CNNMoney.com • Economy • President Obama • Treasury Department
soundoff (3 Responses)
  1. GROVER NORQUIST IS A ENEMY OF THE STATE

    Some progress is better than no progress. I commend the adminstration for going over Congress' head to move this country forward.

    February 7, 2012 09:34 am at 9:34 am |
  2. Ray E. (Georgia)

    I wonder where that profit is coming from. The taxpayers? Please! Don't do me any more favors, I can't afford em.

    February 7, 2012 09:38 am at 9:38 am |
  3. Rick McDaniel

    None of Obama's spending programs, were at all productive, and we are going to lose taxpayer dollars, on most of them.

    In Obama's own words......80 million profit is pocket change. Obama is spending more than one trillion a year!

    February 7, 2012 09:51 am at 9:51 am |