Washington Post (April 1)
2010/ 04/ 01 by jd in Global News
The Troubled Assets Relief Program (TARP) remains unpopular. Few Americans like the idea of rescuing the financial industry with taxpayer money. Still, the $700 billion TARP did prevent economic collapse. And now TARP is returning money to taxpayers. TARP is selling assets picked up for cheap during the crisis. For example, the Treasury Department plans to sell its 27% Citigroup stake at a profit of $8 billion. When everything is finished, about $600 billion is likely to be returned to taxpayers. The Washington Post calls TARP “a bargain.” With a final cost now estimated at $100 billion, TARP was able to “stem the panic-induced collapse of a banking system.”
