{"id":378,"date":"2010-03-19T09:00:00","date_gmt":"2010-03-19T13:00:00","guid":{"rendered":"http:\/\/www.intuitiveinvestor.com\/web\/?p=378"},"modified":"2018-08-21T08:50:45","modified_gmt":"2018-08-21T12:50:45","slug":"update-on-tarp-costs","status":"publish","type":"post","link":"https:\/\/jasonapollovoss.com\/web\/2010\/03\/19\/update-on-tarp-costs\/","title":{"rendered":"Update on TARP costs"},"content":{"rendered":"<p><span style=\"font-size: 16px;\">The Congressional Budget Office released its most recent estimate of monies allocated under Congress&#8217;s 2008 Troubled Asset Relief Program (TARP).\u00a0 Recall that this is the program that was designed to allocate bailout monies to U.S. businesses intimately tied to the financial meltdown.\u00a0 The latest estimate of\u00a0cost to taxpayers\u00a0is $109 billion.\u00a0 Meanwhile, the Office of Management and Budget estimates that the total cost to taxpayers will be\u00a0$127 billion.\u00a0 So let&#8217;s average those two figures&#8230;the average estimated cost to taxpayers of TARP is $118 billion.\u00a0 How much is that $118 billion per U.S. citizen?\u00a0 $386.89.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">I was opposed to TARP for several reasons.\u00a0 One, I feel that capitalism only works when businesses, in equal proportion, get to experience the ecstasy and agony of business choices.\u00a0 That is, bad business decisions that lead to failure have to lead to failure; there cannot be bailouts.\u00a0 Second, I felt that unless there were changes to the institutions, the ideas and the people that made the bad decisions that TARP was simply an excuse to continue on with the status quo.\u00a0 I still believe these two things about TARP.\u00a0 I also said that the anticipated economic\u00a0DEPRESSION was highly unlikely to occur because of greater information transparency and because of knowledge of Keynsian economics; and TARP is an example of both.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">While I was a non-supporter of TARP when it was proposed a year and a half ago, I have to say that the recession was much more shallow than many people anticipated, in part because of TARP.\u00a0 Do I consider $387 per citizen a fair price for a shallower recession?\u00a0 Yes.<\/span><\/p>\n<p><span style=\"font-size: 16px;\">Jason<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Congressional Budget Office released its most recent estimate of monies allocated under Congress&#8217;s 2008 Troubled Asset Relief Program (TARP).\u00a0 Recall that this is the program that was designed to allocate bailout monies to U.S. businesses intimately tied to the financial meltdown.\u00a0 The latest estimate of\u00a0cost to taxpayers\u00a0is $109 billion.\u00a0 Meanwhile, the Office of Management [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[3],"tags":[],"class_list":["post-378","post","type-post","status-publish","format-standard","hentry","category-the-blog"],"_links":{"self":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/378","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/comments?post=378"}],"version-history":[{"count":0,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/posts\/378\/revisions"}],"wp:attachment":[{"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/media?parent=378"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/categories?post=378"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jasonapollovoss.com\/web\/wp-json\/wp\/v2\/tags?post=378"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}