Sunday, June 6, 2010

News You Can Use

The $700 billion TARP legislation (Troubled Asset Relief Program) that was signed into law by
President George Bush on 10/03/08 included $245 billion that was paid to US banks. This was the start of a series of initiatives to strengthen market stability, improve the strength of financial institutions, and enhance market liquidity.


As of March 2010 - $168 billion of the $245 billion (or 69%) has been repaid by the banks.

(source: TARP).

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