TARP costs cut by 25% in latest CBO estimate.

[bamacrat]

Source: CNN

NEW YORK (CNNMoney) -- The Troubled Asset Relief Program, which the federal government used to bail out many of the nation's banks and automakers, will end up costing taxpayers an estimated $24 billion, which is 25% less than the previous estimate.
The latest estimates come from the Congressional Budget Office, the nonpartisan scorekeeper for Congress on matters related to federal spending.

Read more: http://money.cnn.com/2012/10/11/news/economy/tarp-cost-cbo/index.html?source=cnn_bin

[SleeplessinSoCal]

1. That's no small potatoes. That's considerable real money.

[bossy22]

2. it's pennies when compared to what it would have cost if we did nothing

All scenarios eventually lead to the conclusion that Uncle Sam would be the one left holding the bag. The difference was whether we wanted it to be $24 billion or 2.4 trillion.


To be honest- I am supportive of the idea of TARP but I was not happy that many of these Bank CEOs got off with not as much as a slap on the wrist. A full collapse of the financial system would hurt every american....badly