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According to the Congressional Budget Office (CBO), "In October 2008, the Emergency Economic Stabilization Act of 2008 (Division A of Public Law 110-343) established the Troubled Asset Relief Program (TARP) to enable the Department of the Treasury to promote stability in financial markets through the purchase and guarantee of 'troubled assets'.  Section 202 of that legislation, as amended, requires annual reports from the Office of Management and Budget (OMB) on the costs of the program."

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"To fulfill that requirement, CBO has prepared this report on TARP transactions completed, outstanding, or anticipated as of April 30, 2021.  By CBO’s estimate, $444 billion of the $700 billion initially authorized will be disbursed through the TARP, including $0.4 billion in projected future disbursements. (About $410 billion of the total amount was disbursed by March 2011.) CBO estimates that the government’s total subsidy costs — including those already realized and those stemming from outstanding and anticipated transactions — will be $31 billion."  Read the report here.

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The report continues: "The U.S. financial system was in a precarious condition when the TARP was created, and the transactions envisioned and ultimately undertaken entailed substantial financial risk for the federal government. Nevertheless, the TARP’s net realized costs have proven to be near the low end of the range of possible outcomes anticipated at the program's outset."

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The Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP) is a "federal law enforcement agency that targets financial institution crime and is an independent watchdog protecting the interests of the American people."  Congress created SIGTARP "to protect Americans from fraud, waste, and abuse related to TARP — the unprecedented financial rescue that will continue for years to come.  Accountability through criminal and civil prosecutions is the goal of SIGTARP’s law enforcement mission. SIGTARP special agents and investigators work hand-in-hand with federal and state prosecutors." 

 

SIGTARP has reported their progress to Congress since the launch of the program (read the report here).  Below is their progress as of March 31, 2021:

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Evidence:

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United States.  Congressional Budget Office.  "Report on the Troubled Asset Relief Program – April 2019."  April 2019

United States.  Office of the Special Inspector General for the Troubled Asset Relief Program.  "Quarterly Report to Congress."  30 Apr 2019