The financial institutions effectively have had their liabilities guaranteed by the Feds plus a large infusion of new capital funds. Even the incompetent managers of these institutions, who basically wrecked them through gross mismanagement, can make some money under such circumstances. A 10% recovery of principal over a six month period is not enough to justify the TARP bailout.
That's not the justification for TARP. And let's not pretend that 10% is the only recovery.
The auto money is lost and AIG looks kinda shaky, but the rest of the money will be recovered with interest.