Are you sure it Bush that had anything to do with the UAW and GM getting TARP funds ? I thought that diversion from the original intent of TARP happened after Zero took office.
skr: If your question was referring to where did the banks get the money to repay TARP, then I think the answer is that they didn’t really need the money in the sense that they didn’t need to “spend” it like GM and UAW did. The banks were forced to take it so they could meet cash requirements since their “assets” of mortgage backed securities and credit default swaps became so questionable. They wrote down those assets and cleaned up their balance sheets so they no longer needed to show as much “cash” on hand. As Congress’s TARP panel was intrusive, the banks got out by repayment as quick as possible.
Unfortunately, Bush started the process; Zero seized the day and later put it in overdrive, by nationalizing them.
How The Hell Did GM Pay Back Its Loans "in Full And Ahead of Schedule"? Well, It Didn't. - posts #12 and #52, with timeline and supporting links.