The TARP police are still on call
TARP, or the “Troubled Assets Relief Program,” was a major part of the bank and automaker bailout that Congress passed in the wake of the 2008 subprime mortgage crisis.
The government’s last major TARP holding — a stake in Ally Financial — was sold in December 2014.
That doesn’t mean TARP is entirely over.
SIGTARP, or the Office of the Special Inspector General for TARP, is headed by Christy Romero. SIGTARP has the legal authority to investigate and prosecute misuse of TARP funds. Dozens of scammers have already been prosecuted, and Romero says that so far her office has recovered $1.57 billion in taxpayer money.
Stories You Might Like
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?
