Come Back Hank Paulson: All Is Forgiven?

In my unaccustomed role as the bearer of good economic news, here is some more: the Treasury Department has reduced the estimated price of last year's bank bailouts by nearly sixty per cent. With Bank of America joining the list firms that have repaid the capital injections they received from the taxpayer, the net cost of the TARP—Trouble Asset Relief Program—is likely to be $200 billion, as opposed to a previous estimate of $341 billion, according to a Treasury official quoted by Reuters...