TARP has not gone away, friends. The House Republican Policy Shop is here to make sure you are up to speed on the latest news regarding this "living dead bailout." See an excerpt from the most recent report:
October 3, 2010, marked the expiration of the Treasury Department’s statutory authority for using funds authorized under the $700 billion Troubled Asset Relief Program (TARP) bailout. The Congressional Budget Office’s latest estimates suggest taxpayers will lose $66 billion. The reality is that the TARP bailouts and massive taxpayer liabilities continue to exist in the federal government’s control of GM, Chrysler, and AIG, as well as the capital infusions into smaller banks that are now struggling to repay the taxpayers. As Representative Jeb Hensarling (R-TX) noted in a recent op-ed published in Investor’s Business Daily, “Currently, Treasury has committed $460 billion in signed contracts and only $199 billion of the $386 billion actually paid out has been repaid. There's no obligation that the outstanding money be repaid to taxpayers in a timely manner.” Perhaps more damaging, the notion created by TARP that some financial institutions are “too big to fail” was codified by Dodd-Frank and will live on well into the future.