Benjamin D. Hahn, Published October 17 2010
Here are numbers about the TARPI hear so much false information about TARP money that I thought I should let everyone know what Bloomberg Businessweek magazine reported in its Oct. 4-10 edition, Page 30:
On October 2008, the TARP law passed and allocated $700 billion. This was reduced to $475 billion in July 2010. The major TARP programs were bank bailouts, auto bailouts, AIG bailouts, housing bailouts and public-private partnerships.
Bank bailouts received $250 billion. Expected repayments: $250 billion and $16 billion profits, so far.
Auto bailouts received $82 billion. Expected repayments: $55 billion, with a loss of $27 billion.
AIG bailouts received $70 billion. Expected repayments: $60 billion to $70 billions, with a loss of $0 to $10 billion.
Housing bailouts: $30 billion. These funds were never intended to be repaid.
Public-private partnerships received $22 billion. Expected repayments: $21.5 billion, with a loss of $500 million.
So, in the end, it may have cost the government $40 billion to $51.5 billion.
I think that treasury secretaries in the two administrations did a great job handling this problem.
It is important to know the actual cost of this program.