Tarp Overseer Debunks Bailout Myths: Big Companies HAVEN'T Repaid Tarp Funds . And Funds To Help Homeowners HAVEN'T Been Paid

Apologists for government bailouts push two main myths:

•That all of the bailout funds have been repaid
•That the bailouts helped the average American

But the official government overseer of the Tarp bailout program – the special inspector general for TARP, Christy L. Romero – has debunked both myths.

Today, Romero wrote [10] the following to Congress:

After 3½ years, the Troubled Asset Relief Program (“TARP”) continues to be an active and significant part of the Government’s response to the financial crisis. It is a widely held misconception that TARP will make a profit. The most recent cost estimate for TARP is a loss of $60 billion. Taxpayers are still owed $118.5 billion (including $14 billion written off or otherwise lost).

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