Wednesday, October 6, 2010

TARP Lives!

I've been seeing a lot of cheer leading on liberal blogs lately claiming that TARP is a great big success story. Ha! Here is a revealing video on TARP by Larry Kudlow:

1) $460 billion of commitments were doled out.
2) $386 billion were paid out to banks.
3) $200 billion has been re-paid.
4) $70 billion is still owed by GM and Chrysler.
5) $100 billion was lent to AIG of which $50 billion is TARP funds.

Was TARP really necessary? Kudlow suggests that 1) FDIC loan guarantees for all bank debt--short, medium, long--calmed markets even before TARP and also 2)The Feds money market guarantee eased market fears.

1 comment:

Edisto Joe said...

TARP was one huge waste of taxpayer money and these idiots running the country want to still raise our taxes...for more of the same? It's disgusting to hear anyone defend this program. Tarp rhymes with *art! It stinks!