Banks negotiating to reclaim stock warrants they granted in return for Troubled Asset Relief Program money may shortchange taxpayers by almost $10 billion if Treasury Secretary Timothy Geithner’s first sale sets the pace, data compiled by Bloomberg show. Full Story »
Posted by Kaizar Campwala
a complicated system for banks to pay off the warrants, the figures here let the reader understand what's happening. altho the banks say these payments are 'onerous' and 'punitive', it appears that if the banks waited longer to pay them off, they would be worth more, and they would have to pay even more. the gov't doesn't appear from this piece to think the cost to the taxpayers is thus.
