The Troubled Assets Relief Program, which was widely reviled as a $700 billion bailout for Wall Street titans, is now expected to cost the federal government a mere $25 billion – the equivalent of less than six months of emergency jobless benefits.
A new report released Monday by the nonpartisan Congressional Budget Office found that the cost of TARP has plummeted since its passage in October 2008.
The turnaround is due mostly to the financial success achieved by GM, AIG and the big banks.
(READ the report in the Washington Post)