Amount repaid by TARP recipients surpasses outstanding balance

Banks and other recipients of funds through the Troubled Asset Relief Program have repaid $194 billion, while $190 billion remains outstanding. "TARP repayments have continued to exceed expectations, substantially reducing the projected cost of this program to taxpayers," said Herbert Allison, assistant secretary for financial stability at the U.S. Treasury Department. "This milestone is further evidence that TARP is achieving its intended objectives: stabilizing our financial system and laying the groundwork for economic recovery."
Read more...