Friday, March 27, 2009
How Much Is Left in Tarp?
According to the Wall Street Journal:
It appears that Treasury has, at most, $52.6 billion left in its [Tarp] rescue fund....
On Wednesday, Treasury Secretary Timothy Geithner twice was asked to specify how much remains in the Troubled Asset Relief Program. The question arose amid the series of new programs the Obama administration has announced in the past several weeks to boost ailing financial markets. In both instances, the secretary avoided a direct answer.
The first time came after Mr. Geithner delivered remarks to the Council on Foreign Relations Wednesday morning. The moderator asked the basic question: How much is left in TARP? Mr. Geithner's reply: "Very, very reasonable amounts of money -- significant enough money."
Is there "significant money" left in Tarp even though the Journal calculates there should only be left because Tarp was never actually limited to $ 700 billion?
Or is Geithner trying to bluff about having a bigger bazooka than he really has?
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