Bailout Relief Price Tag Hits $40 Billion

By CNN

Published 04/30 2014 10:01AM

Updated 04/30 2014 10:10AM

A new report estimates taxpayers have lost $40-billion from the 2008 Federal Bailout Package.

You may remember the Troubled Asset Relief Program was signed into law under President Bush to provide financial assistance to banks, the housing market, and automakers during the financial crisis.

The special inspector general for TARP says of the 700-billion dollars provided, no more than $475-billion were spent.

Most of it has been paid back, but the report say $40-billion has been lost, mostly to write-offs and losses to GM and AIG.

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