As of December 31, 2012, the Treasury had received over $405 billion in total cash back on Troubled Assets Relief Program investments, equaling nearly 97 percent of the $418 billion disbursed under the program.
But TARP was just a small part of the whole picture. What concerns me is that there seem to have been somewhere between $1.2 trillion and $16 trillion in secret loans from the Fed to big financial institutions and other corporations. Even if they’ve been repaid, the low interest rates might represent a big transfer of wealth from the poor to the wealthy. And the fact that I’m seeing figures that differ by more than an order of magnitude is far from reassuring, too! The GAO report seems to be worth digging into.
According to Wikipedia:
But TARP was just a small part of the whole picture. What concerns me is that there seem to have been somewhere between $1.2 trillion and $16 trillion in
secret loans from the Fed to big financial institutions and other corporations. Even if they’ve been repaid, the low interest rates might represent a big transfer of wealth from the poor to the wealthy. And the fact that I’m seeing figures that differ by more than an order of magnitude is far from reassuring, too! The GAO report seems to be worth digging into.