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U.S. Senate Republican Gregg sees profit on bailout.
September 28, 2008 / 7:31 PM / 9 years ago

U.S. Senate Republican Gregg sees profit on bailout.

WASHINGTON, Sept 28 (Reuters) - Senior Republican Sen. Judd Gregg of New Hampshire expressed confidence on Sunday that the money laid out in a taxpayer-funded bailout for the U.S. financial system will be more than recovered.

“If we are successful in this effort, (Treasury) Secretary (Henry) Paulson will settle out the credit markets with this very significant resource of bond money, of taxpayers’ money,” Gregg told a midafternoon news conference where he stressed his backing for the plan that he hoped could be voted on by Congress on Monday.

“We’ll be able to get into a more orderly system, and we’ll start as we sell this paper off to recover the tax dollars that we’ve laid out,” said Gregg, the ranking Republican on the Senate Budget Committee.

“We may lose some money, we may break even or we may make some money. My gut tells me we’re going to make money as taxpayers,” Gregg predicted. (Reporting by Glenn Somerville; Editing by Neil Stempleman)

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