TARP Investment Reaps Just More Than a Penny on the Dollar
Wonder what more than $300 billion in taxpayer money for the Troubled Asset Relief Program has actually paid for? The Government Accounting Office spent close
Jul 31, 2020288.4K Shares8.2M Views
Wonder what more than $300 billion in taxpayer money for the Troubled Asset Relief Program has actually paid for? The Government Accounting Office spent close to three months trying to figure it out and today it announced the answer: It’s hard to say.
Acting Comptroller General Gene L. Dodaro submitted a statement to a House subcommitteetoday, saying “it is too early in the program’s implementation to see measurable results in many areas.”
Maybe time will tell? Well, no, Dodaro wrote: “Even with more time and better data, it will remain difficult to separate the impact of TARP activities from the effect of the other economic forces.”
But all is not lost, he noted. The Treasury Department has spent $196 billion on preferred shares in 416 qualified financial institutions. As of last week, Treasury reports that it has received $2.4 billion in dividends. That’s a 1.2 percent return on the investment dollar over four months, which isn’t half bad these days.
Dexter Cooke
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Dexter Cooke is an economist, marketing strategist, and orthopedic surgeon with over 20 years of experience crafting compelling narratives that resonate worldwide.
He holds a Journalism degree from Columbia University, an Economics background from Yale University, and a medical degree with a postdoctoral fellowship in orthopedic medicine from the Medical University of South Carolina.
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