Sunday, October 3, 2010
Troubled Asset Relief Program
When the government created the bailout fund, that was set at $700 billion and was lowered to $475 billion by the Dodd-Frank Act in July, the program has expired and many problems in the economy still remained unresolved. There are still about $200 billion remaining unpaid by about 100 companies. This article shows the money committed, projected final cost to government, and the program status of the banks, AIG, automakers, housing, and lending.
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This article was very informative as far as the logistics of the bailout. The $200 billion unpaid is a very large amount of unpaid money and looks bad on paper, but it will take some time for these companies to recover. In addition, there is no mention of the interest that the government charged these companies. So taking into consideration the interest charged by the government, then the government really is not as bad off as this $200 billion unpaid makes it look.
ReplyDeleteIt shook me to know that much of money has been spent and there are still about $200 bil remaining unpaid, which is a relatively huge amount of money. However, there is about 100 companies that contributing to this, comparing to thousands of firms out there. In my opinion, the economy will just struggling a little more before getting back on its way.
ReplyDeleteThe amount of funds that have remained unpaid is quite a disheartening number. This is a really interesting article, and I have learned quite a lot about how TARP exactly works and exactly where a lot of the money is distributed. Although I'm not entirely sure whether I agree with the actions of President Obama, I feel that overall he's done a relatively good job dealing with the financial crisis. As complicated as things are however (as this article shows), I can only hope that whenever government assistance is given, it is given in the right amounts to the right people.
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