Political & Real Estate News

Government Bailout Failed in Many Ways

By Matthew Jaffe, ABC News
The government's controversial $700 billion bailout program has failed to achieve many of its objectives, a watchdog tells Congress in a new report out Saturday night.

Neil Barofsky, the special inspector general for the Troubled Asset Relief Program (TARP), says in the report that the financial system is stronger today than in the fall of 2008, but he concludes, "Many of TARP's stated goals...have simply not been met."

Consumers and businesses are still struggling to get loans, he says. Small businesses are still waiting for an aid program to start. Homeowners are still grappling with record levels of foreclosures. Unemployment is still 10 percent.

Read the entire article.

Print Date: 9/20/2020
Using this site means that you agree to our Terms of Use and Privacy Policy. - Copyright © 2020 DREAM HOMES. All rights reserved.
All information is deemed reliable but is not guaranteed and should be independently verified.
Facebook Twitter Instagram