The Treasury Department has changed the rules on a program meant to help people hit by the housing crisis stay in their homes, allowing states to use some money from the $7.6 billion foreclosure prevention program to demolish homes instead.
The Troubled Assets Relief Program -- TARP -- was the formal name for what we often just call "the bailout." In 2008 Congress allocated $700 billion to stabilize the U.S. financial industry. Congress and President Bush assigned one man to build a team, and police all that spending.
In a report to congress, TARP's inspector general says while the program will likely end up making a profit for taxpayers, there's ongoing worry that many small banks are having trouble paying back the feds.