The Neverending Bailout: The U.S. Is Still Owed $133 Billion from Crisis Fund

Mon, 01/30/2012 - 08:00 EDT - The Curious Capitalist

If you thought the bank bailout that started in late 2008 was long gone, you would be far from wrong. The special investigator for TARP, the government fund that was created in the wake of the financial crisis, released a report last week that said the government is still owed $133 billion from the fund. [...]

Original article
Login or register to post comments

Bailout firms pay nearly all back taxes owed (AP)
AP - A government investigator says companies receiving money from the government's Wall Street bailout have repaid nearly all the $531 million in unpaid federal taxes they owed when they entered the program.
Report: Taxpayers still owed $133B from bailout (AP)
AP - Companies that were bailed out during the financial crisis still owe U.S. taxpayers nearly $133 billion. Treasury's plans to recoup that money have been slowed by the volatile stock market and weakness among smaller banks.
Cyprus strikes last-minute EU bailout deal
Olivier Blanchard: Five Lessons for Economists From the Financial Crisis
David Wessel: Olivier Blanchard’s Five Lessons for Economists From the Financial Crisis: Here are Mr. Blanchard¹s five lessons in his own words, lightly edited by The Wall Street Journal’s David Wessel:
In 2005-2013, the Long-Run Came First, and the Short-Run Came Later
Shares of GDP
World Bank Warns of Economic Crisis in China; Only 3% Growth for Decade Says Michael Pettis
A World Bank report to be released next week warns of an economic crisis in China unless state-run firms are scaled back. The Wall Street Journal discusses the report in New Push for Reform in China
Improved TARP forecast could mean $200 billion to help create jobs
As banks recover and repay some of the bailout money, the government is looking to use those billions for federal jobs programs. The federal government projects $200 billion less in losses from its $700-billion financial bailout fund, which would free up some of the money to be used for new job creation efforts, according to a report to be released this week.
What Did TARP Do?
This morning, starting at 9:30am, the Congressional Oversight Panel holds a hearing to assess the performance of the Troubled Asset Relief Program (TARP). The hearing will be streamed live and also archived, featuring testimony from: Dean Baker (Center for Economic and Policy Research), Charles Calomiris (Columbia University), Alex Pollock (American Enterprise Institute), Mark Zandi (Moody’s Economy.com), and me.
TARP Fraud Probes Begin
The man charged with monitoring the $700 billion financial rescue has launched more than a dozen investigations into possible misuse of the money, according to a report sent to Congress today. In findings that are not likely to soothe agitated taxpayers who are wondering what return they are getting from the bailouts, Neil Barofsky -- Special Inspector General for the Troubled Asset Relief Program, known as TARP -- said billions of taxpayer dollars are vulnerable to fraud, waste and abuse.

Main menu

Secondary menu

The Neverending Bailout: The U.S. Is Still Owed $133 Billion from Crisis Fund

Related

Latest

User login

Our Blog

Markets Map

Follow Us

Secondary menu