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US bank bailout total less than expected

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US bank bailout total less than expected

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The projected long-term cost of the US government’s bailout of America’s big banks will be at least 200 billion dollars less than previously thought.

The US Treasury Department says that is due to better than expected returns on the money loaned to banks. The Obama administration hopes it can now use some money from the politically unpopular bailout programme for job creation and deficit reduction.