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Mortgage-backed securities that brought about the financial crisis earned the U.S. Treasury $25 billion
Posted By admin On March 19, 2012 @ 9:02 am In Money Watch | Comments Disabled
March 19, 2012
The US Treasury said Monday it had earned $25 billion from investments it made in mortgage-backed securities during the height of the financial crisis in 2008-2009.
Announcing the completion of its disposal of its position in the securities, which were at the center of the meltdown of the financial system, the Treasury said taxpayers received total cash of $250 billion from the portfolio — $25 billion more than the initial US investment.
“The successful sale of these securities marks another important milestone in the wind down of the government’s emergency financial crisis response efforts,” Mary Miller, the Treasury’s assistant secretary for financial markets, said in a statement.
Miller noted the program had helped support the housing market during the financial turmoil “and delivered a substantial profit for taxpayers.”
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