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Benjamin D. Hahn, Published October 17 2010

Here are numbers about the TARP

I 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.