Treasury crisis program brings in $1.7 billion for taxpayers

Treasury also announced Friday that public-private investment funds (PPIFs) had drawn down around $20.9 billion — or roughly 71 percent — of the $29.4 billion in debt and equity capital that had been committed. 

Earlier this year, the department had placed PPIP’s fourth-quarter 2010 gains at $314 million in cumulative equity distributions and $1.08 billion in unrealized gains.

Friday’s report also showed that the investment funds involved in the program, such as Blackrock and Angelo Gordon, had brought in returns ranging from 27 percent to 75 percent.

When the program was announced roughly two years ago, PPIP was sharply criticized by some as another break for Wall Street firms in the wake of the financial crisis.