"Today, the U.S. Department of the Treasury received full repayment on its Troubled Asset Relief Program (TARP) investments in Bank of America in the sum of $45 billion, bringing the total amount of repaid TARP funds to $116 billion," Treasury said just now in a public statement.

"Treasury now estimates that total bank repayments could reach up to $175 billion by the end of 2010, cutting total taxpayer exposure to the banks by almost three-quarters from the peak"
Just in time to help pay for Obama's new roads and public health centers! Now all Washington has to fix is AIG, Fannie Mae and Freddie Mac, the Afghanistan and Iraq wars, the Medicare and Social Security deficits...

All BofA has to do is find a CEO to replace departed Ken Lewis, keep markets stable to prop up resurgent Merrill Lynch, and somehow regain profits in its battered Wilmington credit card division, its commercial real estate portfolio, and other units that profited richly from the mid-2000s price inflation but have bled losses and jobs in the hangover. NEW: Could be a new boss next week, says hometown Charlotte Observer here.