Watchdog sees little chance of full return of TARP funds

09/24/2009 | Reuters

Neil Barofsky, special inspector general for the Troubled Asset Relief Program, said there is significant risk of never recovering funds loaned to businesses and banks under the program. "While several TARP recipients have repaid funds for what has widely been reported as a 17% profit, it is extremely unlikely that the taxpayer will see a full return on its TARP investment," Barofsky said. Money used to modify consumer mortgages, for example, is extremely unlikely to be recovered, he said.

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