Taxpayers' Billions at Stake as Banks Seek to Repay T.A.R.P. Funds
When the U.S. government's T.A.R.P. bailout came to the aid of banks last fall, the banks granted stock warrants to the government — a potential jackpot for taxpayers once the crisis blew over. The warrants give the government the right to buy stock in the banks at cheap prices over a certain period of time, in this case, 10 years.
Currently many banks, eager to get Washington out of their hair, are itching to return their T.A.R.P. bailout money and buy back the warrants. Billions of taxpayers' dollars are at stake. Please click here for an article on the topic from the New York Times.