03/31/2009 - The TARP auditor Neil Barofsky testified before Congress today and gave some numbers that feel like hard punch to the gut. He said so far, the U.S. has committed $2.98 trillion to saving financial companies and Detroit automakers.
Of the $700 billion TARP money, he said only $109.5 billion remains.
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There’s a new project from the Pew Charitable Trusts called Subsidyscope. It’s following TARP and providing information on the Subsidyscope website. One feature allows you to type in the name of a financial company and find out how much TARP money has been invested in it.
The site is also keeping track of bank stock prices versus “strike” prices. That’s the price at which the Treasury has an option to buy the company’s stock. So, you can see how much money the taxpayers are losing at the moment, but eventually, you might see the minuses turn to pluses.
Read the full article Keeping Track of the Bailouts on American Public Media's Marketplace Web site.