Posted by Suzy Khimm at 12:45 PM ET, 03/09/2012
The federal government seems to be on track in recouping the $414 billion in taxpayer money spent under the Troubled Asset Relief Program, with $120.7 billion now outstanding. But it turns out that over 130 bailed-out institutions paid back their TARP money simply by taking out loans from yet another government program, suggesting that the government--and taxpayers--actually haven’t gotten paid back yet.
A new report from the Government Accountability Office, flagged by the Roosevelt Institute’s Matt Stoeller, shows that 40 percent of the 341 institutions that have exited TARP’s biggest single initiative--the $205 billion Capital Purchase Program--simply refinanced their loans through a separate, $30 billion government program known as the Small Business Loan Fund (SBLF below).
http://www.washingtonpost.com/blogs/ezra-klein/post/the-government-has-recouped-tarp-money-by-accepting-other-government-funds/2012/03/09/gIQAHgdT1R_blog.html
Realist - Everybody in America is soft, and hates conflict. The cure for this, both in politics and social life, is the same -- hardihood. Give them raw truth.
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