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Keyword: tarpsuccess

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  • TARP funds are unlikely to be fully repaid, program's watchdog says [Neil Barofsky]

    09/25/2009 7:59:44 PM PDT · by Lorianne · 8 replies · 424+ views
    Los Angeles Times ^ | September 25, 2009 | Alexander C. Hart
    It's 'extremely unlikely' that taxpayers will see a full return on their investment, Neil Barofsky, special inspector general for the Troubled Asset Relief Program, tells the Senate Banking Committee. Reporting from Washington - The Treasury is unlikely to get back the full amount of money lent under the Troubled Asset Relief Program despite a recent spate of repayments from large banks, warned the program's watchdog. The program "played a significant role" in rescuing the financial system from a meltdown, Neil Barofsky, special inspector general for TARP, testified before the Senate Banking Committee on Thursday. But it was "extremely unlikely that...