Have you any idea what happened to the financial markets in the late summer of 2007? Events that began to run downhill then culmulnated in the collaspe in the housing market of 2008. From the book, "Too Big to Fail", by Andrew Ross Sorkin, pages 89 and 90, referring to events as they began to unfold beginning on August 7, 2007:
As I've stated from the very beginning of the housing crisis, CORPORATE AMERICAN COULD NOT FIX ITSELF! Therefore, it was incumbant upon the Federal Reserve/Treasury to try and fix the mess the private sector created and did not fully understand itself. TARP was that effort to place liquidity back into the private sector, halting short-sells, bring some measure of confidence back into the financial system. The spike you see in domestic spending beginning in 2008 is a direct result of the massive "capital injection plan" the Fed used to stablize the markets and "stop the bleeding".[/QUOTE]
TARP was spent passed in fiscal year 2009 and most of it has been spent and most of it has been repaid. Now what?