Posted on 10/21/2009 6:05:22 AM PDT by anniegetyourgun
WASHINGTON — The man who watches over the $700 billion in government money given to banks and other institutions to avert a financial collapse said Wednesday he thinks it's too early to say how much will be repaid to the taxpayers. Just as the Obama administration prepares to announce a new TARP-like program for small community banks, Inspector General Neil Barofsky said he believes that "it's unrealistic to think we're going to get all of that money back." The Treasury Department has spent more than $454 billion through TARP programs. Forty-seven recipients have paid back nearly $73 billion. That means more than $317 billion remains outstanding with the program set to expire Dec. 31. Later Wednesday, President Barack Obama is expected to announce the community bank assistance effort. The American Bankers' Association has asked for $5 billion in rescue-fund money to help small banks extend more loans.
(Excerpt) Read more at google.com ...
All the bailout did was line the pockets of the same executives whose poor business decisions caused their banks to march on Washington for our money to begin with.
FOX is reporting ...don’t expect aNYTHING back
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