TARP was nothing ore than a bailout. As a constitutional conservative, I oppose all subsidies and bailouts.
What was bailed out? Of the initial “investments” and loans, the payback was more than the payout. They were certainly something you wish the private sector could have done, and many would have, except nobody had any money.
I think people forget how bad the monetary situation was. Banks were giving investors 5% interest on long-term CDs, not because of inflation, but simply because they needed cash.