From BBC News
“From programmes involving large capital infusions into hundreds of financial institutions, to a mortgage modification programme, to public-private partnerships using tens of billions of taxpayer dollars to purchase ‘toxic’ assets from banks, Tarp has evolved into a programme of unprecedented scope, scale and complexity,” said Mr Barofsky, special inspector general of Tarp.
However, he said the programme was only part of the wider effort to rescue the US economy.
“As massive and important as Tarp is on its own, it is just one part of a much broader federal government effort to stabilise and support the financial system.
“The total potential federal government support could reach $23.7 trillion,” he added.
Continue Reading US ‘Exposure to Crisis $23.7tn’
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U.S. Rescue May Reach $23.7 Trillion, Barofsky Says (Update3)
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