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TARP bailout still in effect progress

November 4, 2010
The Daily Mining Gazette

A cover-up of sorts is in progress regarding TARP, the astronomically expensive big-business bailout program liberal politicians would prefer voters didn't think about.

TARP - the Troubled Asset Relief Program - used $700 billion in taxpayers' money to bail out businesses. Treasury Secretary Timothy Geithner said Sept. 22 that the program is "completely behind us."

It is not, according to an investigation by the Associated Press. The AP found that hundreds of millions of dollars still is being spent to manage the program. About $185 billion in TARP funds remain in the hands of bailed-out companies. At least $51 billion of it will not be repaid, according to the government's own estimates.

And, according to the inspector general for TARP, $82 billion remains "obligated to be spent" through the program.

Voters can understand when government makes mistakes. But when it is dishonest, as in claiming TARP is over, that is another story.



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