From BBC News
“From programmes involving large capital infusions into hundreds of financial institutions, to a mortgage modification programme, to public-private partnerships using tens of billions of taxpayer dollars to purchase ‘toxic’ assets from banks, Tarp has evolved into a programme of unprecedented scope, scale and complexity,” said Mr Barofsky, special inspector general of Tarp.
However, he said the programme was only part of the wider effort to rescue the US economy.
“As massive and important as Tarp is on its own, it is just one part of a much broader federal government effort to stabilise and support the financial system.
“The total potential federal government support could reach $23.7 trillion,” he added.
Continue Reading US ‘Exposure to Crisis $23.7tn’
Related Links:
U.S. Rescue May Reach $23.7 Trillion, Barofsky Says (Update3)
Bloomberg.com (21 July 09)
Treasury Clashes With Tarp Watchdog on Data
Financial Times (21 July 09)
Bailout’s Watchdog Gives Cost Estimate, Says it’s Meaningless
Smart Brief (20 July 09)
Treasury, Fed Criticized on TARP Spending Transparency
USA Today (20 July 09)
