Repeal TARP? The hour is late, experts say
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PolitiFact
Repeal TARP? The hour is late, experts say
Satya Thallam and Lawrence J. White were cited in PolitiFact on the possibility of repealing TARP.
It would make anybody's shortlist of the most unpopular legislation in recent memory: TARP.It stands for the Troubled Asset Relief Program. Signed into law in October 2008 by President George W. Bush, the program gave unusual financial authority to the U.S. Treasury Department. Lawmakers hoped the move would steer the U.S. economy away from financial collapse.
In the years since, TARP has been vilified, among other things, as a no-strings-attached gift for the financial industry that ignored the needs of ordinary Americans. The program's special inspector general, Neil M. Barofsky, concluded in March that the program "failed to meet some of its most important goals," most notably, its goal to help strapped homeowners keep their homes.
