The Housing Wire reports:
Roughly $146 billion in bank bailouts are not yet repaid to the Treasury Department as of the end of March, and the return on those investments remains "unknowable," according to the Special Inspector General for the Troubled Asset Relief Program.
More than 550 banks have not repaid their bailout, and unloading investments in the most troubled institutions such as American International Group (AIG: 31.80 +0.32%) and General Motors (GM: 31.91 +0.41%) remains elusive.
There's more:
TARP expired in October, but the public perception that the program is winding down is inaccurate. Billions of obligated funds can still be expended through 13 programs, including HAMP and PPIP. Of the obligated amount, $410.5 billion had been spent as of March, leaving $58.9 billion in five programs remaining, SIGTARP said.
Just a reminder, if you aren't in an industry that gets bailed out: you are paying for those who have political connections.
