The Bush Administration’s financial rescue plan launched in fall 2008 at the height of the financial crisis. On launch, Congress is authorized to spend $ 700 billion on known as the Troubled Asset Relief Program, or TARP bailout. Treasury Department is currently estimated that the final cost for the TARP will be 68 billion.
At the end of last year, around 414 billion have been issued through the 13th, while 278 billion has been paid off and 51 billion is still available to spend, according to Congressional Quarterly Report by the Special Inspector for TARP program. The institutions are left in the program include 455 banks and thrifts, plus insurance American International Group Inc., General Motors and financial Ally Inc.
The report also found that out this investment can be difficult in the coming years, as financial markets remain Rocky and many community banks that received federal aid continues to struggle.