Skip to comments.TARP watchdog: Full repayment 'unlikely'
Posted on 10/21/2009 10:07:41 AM PDT by Nachum
The auto industry, AIG and other struggling recipients of the government's $700 billion Wall Street bailout will make it "extremely unlikely" that taxpayers will receive a full return on their investments, says a new report by the Treasury Department's independent watchdog.
About 17 percent of Troubled Asset Relief Program (TARP) loans issued since the program began a year ago have been repaid, according to a 252-page report released Wednesdayby TARP's Special Inspector General Neil Barofsky.
(Excerpt) Read more at washingtontimes.com ...
The list, ping
Does this poor investment mean that Lord obama’s salary will be slashed to $250,000? Or zero?
Yes. But his swiss account in Euros is probably worth about one billion.
No kidding ...
It depends on how you slice it.
He may have been referring to a portion of the TARP funds.
Only a small part of TARP was actually paid out under the Bush admin. Of that that was paid out in 2008, nearly all went to a small number of large financial institutions, a lot of which have since proven to be healthy. Its possible that 70& of the 2008 TARP funds have been repaid.
Note that only about 65% of the $700B was actually paid out overall, even today. Of that much was paid back, so now only about 55% is still outstanding.
AIG at least should be entirely recoverable, once the government sells its stake.
Take it out of the gobments paychecks until it’s paid in full!
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