Oh well, the illusion was nice while it lasted.
The government’s watchdog for the $700 billion Troubled Asset Relief Program disputes suggestions the bailout fund would turn a profit for taxpayers, and warns that many small banks are still struggling to repay.
“It is a widely held misconception that TARP will make a profit,” said a report Wednesday by Christy Romero, the special inspector general for the TARP program, known as SIGTARP.
The Obama administration has said TARP has turned a profit on about $205 billion injected into banks, but still projects losses for the entire fund.
Watchdog report: TARP will not turn a profit for taxpayers - Business - NewsObserver.com
Last edited by PerfectStorm; 04-26-12 at 08:10 AM.