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Americans always knew the Troubled Asset Relief Program (TARP) was going to be expensive. But the program's special inspector general, Neil Barofsky, thinks the U.S. government has bitten off more than it bargained for: on July 20, his office released a report estimating the $700 billion effort to shore up the nation's wobbly banking system could end up costing taxpayers as much as $23.7 trillion, due to estimates for programs offered by the FDIC, federal money for Fannie Mae, Freddie Mac and other institutions on top of $7.4 trillion in TARP and other Treasury aid. A spokesperson...
...Tapped as TARP special inspector general by President George W. Bush in November 2008, even though he is reportedly a Democrat...
...trillions of dollars going out the door without anyone keeping tabs on it." - In an April 2009 interview, noting that his goal as special inspector general was to inform the public that the government bailout programs were not a "black hole." (CNNMoney.com, April...
...should congratulate the country. He does his homework and his prosecutions speak for themselves." - Stephen Barofsky, Neil's father, after President Bush appointed Neil as the special inspector general. (New York Daily News, November...
...TIME's special report on paying for college...