General Motors Pays Back $8 Billion to Taxpayers Ahead of Schedule

Taxpayers spent $205 billion to save the banks, and $136 billion has already been paid back. That leaves a $67 billion IOU from Wall Street to the federal government.

Citigroup, which received $45 billion, is the only major bank that has yet to pay back all of its TARP loan. Citi has so far repaid $20 billion and still owes another $25 billion.

Economist Mark Zandi of Moody's said taxpayers will get their money back from the banks, but it will take time.

"I think a year from now, certainly two years from now, everyone will have paid us back what they owed us," Zandi said.

As for insurance giant AIG, which received $70 billion straight? Tax payers are still waiting for that money to be returned.

The Associated Press and Reuters contributed to this report.

  • 1
  • |
  • 2
Join the Discussion
blog comments powered by Disqus
You Might Also Like...
See It, Share It
PHOTO: Pole Dancing Goes Underwater
Brett Stanley/Caters News
PHOTO: Chloe Kim at the young age of 13 wins silver during the Womens Snowboard SuperPipe Finals at the Winter X Games in Aspen, Colo., Jan. 25 2014.
RJ Sangosti/The Denver Post/Getty Images
PHOTO: Dover Police Master Cpl. Jeff Davis dances to Taylor Swifts hit Shake It Off.
Dave Chambers/Delaware State News