From Zio Wiki
Jump to navigation Jump to search

TARP stands for Troubled Asset Relief Program. The Congress originally proposed 800 billion in TARP money. Headline from Bloomberg Businessweek "US Rescue May Reach 23.7 Trillion Dollars, Barofsky Says", in which Barofsky says bailout may reach 23.7 trillion dollars. The article says that the 700 billion bank investment program represented a tiny fraction of the money given out to restart the financial system, including 6.1 trillion in aid offered by the Federal Reserve. After these banks steal trillions of dollars by selling worthless derivatives to pension funds, retirement funds, and private individuals, these banks get trillions more from US taxpayers. After this, Barrack Obama repeatedly gave out Stimulus... The GOA audit said the bailouts had already surpassed 22 trillion dollars, and Ryan Dawson thinks it went up to 28 trillion dollars.
See Ryan Dawson's book, The Separation Of Business And State to see which companies got how much in funds; In this book, he breaks down economic jargon and uses more layman's terms language to explain everything.