Want just the numbers all in one place?
| Name | Type | State |
|---|---|---|
| Citigroup Received other federal aid. Click to see details. | Bank | N.Y. |
| Wells Fargo | Bank | Calif. |
| JPMorgan Chase | Bank | N.Y. |
| GMAC (now Ally Financial) | Financial Services Company | Mich. |
Did the government make money on the bank bailout?
Early estimates for the total cost of the bailout to the government were as much as $700 billion, however TARP recovered funds totalling $441.7 billion from $426.4 billion invested, earning a $15.3 billion profit or an annualized rate of return of 0.6% and perhaps a loss when adjusted for inflation.
How was TARP money spent?
TARP funds were used to purchase equity of failing business and financial institutions. The Treasury Department also utilized TARP money to buy stock or make loans to other groups and businesses. In all, TARP created 13 different programs.
Did Rockefeller pay off the national debt?
By 1914, the debt was $1.188 billion, only a little more than 3 percent of GDP. Indeed, the richest man in the country, John D. Rockefeller, could have paid off the national debt in its entirety and still have been a very wealthy man.
Where did TARP money come from?
The Troubled Asset Relief Program (TARP) was instituted by the U.S. Treasury following the 2008 financial crisis. TARP stabilized the financial system by having the government buy mortgage-backed securities and bank stocks. From 2008 to 2010, TARP invested $426.4 billion in firms and recouped $441.7 billion in return.
Was TARP a good idea?
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.
