So TARP may turn a profit, does this change how you think of it?
The Troubled Assets Relief Program, otherwise known as the bank bailout, passed late in the Bush presidency with near unanimous cooperation from both Democrats and Republicans became a rallying point of throwing out incumbents who were lost to the real world. The 700 billion dollars they spent was largely believed and considered a waste, and Democrats are taking a huge hit in many elections for having supported it (ironically many Republicans who voted for it are not).
Well two years after its passing, its looking like TARP is actually going to turn a profit. The latest estimates by Bloomberg say that the TARP program will net the Federal Government 25 BILLION dollars. In other words they made back the entire 700 billion, and then an additional 25 billion.
Now personally I don’t think TARP should’ve been passed how it was. There was no regulation on, no oversight, and the banks that had already been “raping” the general public continued to do so after we saved them from bankruptcy. BUT, I have to admit, now that it looks like its actually going to MAKE us a lot of money… I’m somewhat less upset about it.
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