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What TARP Owes Taxpayers

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  • Description

    FBN’s Liz MacDonald on how much money taxpayers are still owed under TARP.

  • Duration 2:31
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This transcript is automatically generated

Vegas for good reason -- the -- and getting on being funny the treasury inspector general -- on the top bank bailout program has bad news for taxpayers that's not funny.

Turns out it's not just -- ING in General Motors is still owed billions.

Live with McDonald investigates.

Yeah that's right -- is more than 350 banks small banks still low tart money and also this new inspector general report from TARP.

I'm baseless saying look at treasuries putting weight too much of a top spin on the fact that they've treasury says that TARP is making taxpayers money and got on to possibly -- -- No taxpayer still -- sick a 118 billion box.

More than that and also it could lose sixty billion dollars for taxpayers down the road you know interesting because Wall Street always comes out and says look we paid it back.

And you guys made money off any of that money that was one led to us.

But you're saying not -- necessarily true not so that the other for the little guys and the issue is for that is.

Where they systemically risky and it's been inspector general saying to -- there's little moral hazard here when you open the door to bail outs.

Everybody wants a bailout and even GM AIG an ally financial base low more than 81 billion dollars they -- the drivers.

Of what is owed to the taxpayers still and possibly losses to the US tax -- so again a week and a half ago treasury out with the top spend ever report.

Putting a positive light on TARP and its success not so not so fast and.

Also -- I think with all the new regulations some of the technical things have been put in place it really hurts the ability of these small.

Regional -- more than regional community banks to actually raise the capital the payback hello.

And that is the issue that the inspector general put out that we have made these community banks may be in the TARP program.

For a long time now and now the moral moral hazard it's morphing into housing -- thirteen dip from bailout programs right now and this is a name include the -- -- Fannie Mae and Freddie Mac the did you really some of these banks were you know global forced to take this Hartman yes some of them words some of them did pay back but again we're talking about the need banks who are -- to probably be and the TARP program for sometime to come.

Panic any in this issue -- is did it -- can't be restated not Fannie Freddie are -- data 151 billion dollars will that ever come back into the US coffers.

And some of these banks aren't gonna minority missed like thirteen payments in a row of some of them so small they have won bronze that assets like you know -- -- Vietnamese community.

And that's right and you know -- says something -- -- -- -- -- reportedly been in touch -- inspector general.

Talking about round tripping up other in other respects are using small banks -- busy we got to go out and.

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