According to the Treasury, the government's investments in TARP earned more than $11 billion for taxpayers. The government also contends that TARP saved more than 1 million jobs and helped stabilize banks, the auto industry and other sectors of business. As with most government programs, TARP also sparked criticism.
Subsequently, one may also ask, how much did the US Congress allocate to the troubled asset relief program in 2008?
How much did the U.S. Congress allocate to the Troubled Asset Relief Program in 2008? $170 billion. $700 billion.
Subsequently, question is, is TARP paid back?
within hours of receiving TARP money. Announced on February 2, 2010, that it would repay its TARP loan. Although Chrysler repaid their loans, the Treasury sold its 6% stake in the company to Fiat at a $1.3 billion loss. and Bank of America repaid TARP money.
What was TARP money used for?
TARP funds were used to purchase stock in banks, insurance companies, and auto-makers, and to loan funds to financial institutions and homeowners.
What was the purpose of the Troubled Assets Relief Program TARP in late 2008?
In September of the year 2008, Troubled Assets Relief Program (TARP) was created in order to restore the nation's financial ability and be able to restart economic growth.