• Archives

  • Blog Stats

    • 664,849 hits
  • Categories

Happy anniversary: 8 years later, a look back on TARP

Justice League

The anniversary of the Consumer Financial Protection Bureau’s Know Before You Owe rule isn’t the only historical mortgage moment that happened on Oct. 3. Today also marks the eighth anniversary of the Emergency Economic Stabilization Act of 2008 becoming law, putting the Troubled Asset Relief Program (TARP) into effect.

In light of the program’s anniversary, Rob Runyan is a spokesperson at the U.S. Treasury Department, penned a quick blog on the success of TARP since it was implemented.

Runyon explained that to date, TARP dispersed a total of $433.7 billion, and as of Aug. 31, cumulative collections under TARP, together with Treasury’s additional proceeds from the sale of non-TARP shares of AIG, total $442.1 billion, exceeding disbursements by $8.4 billion.

The program, as Runyon stated, was once feared to possibly cause taxpayers to lose hundreds of billions of dollars, but it instead generated a positive return.

Runyon spotlighted three clear…

View original post 64 more words

Advertisements

What is your opinion?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: