American Morning

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October 5th, 2009
07:38 AM ET

TARP Anniversary: Is the TARP program working?

It's been one year since former President Bush signed the troubled asset relief program. We're a year past the crisis and many economists believe the troubled asset relief program did help to prevent a total meltdown in financial markets. Investor confidence is stabilized but banks are still failing and the latest unemployment numbers are staggering. Tell us what you think.

Filed under: American Morning
soundoff (13 Responses)
  1. Tom


    None of these financial rescues are for us. They are to feather the nests of banks.

    700Billion/approximately 100Million adults in the USA= $700,000 per adult. Surely that is enough to pay off debts and give the non-bankers help that they need.

    October 5, 2009 at 9:06 am |
  2. Vickie

    I hear you! "Question on Acorn and Nazi comment?" What about the tarp inspector general – "Bet all on Black" comment? Was that a racial dig? All men are created equal, if nobody told you! Furthermore betting on white all these years, is precisely why this country is in the outhouse, NOW.

    October 5, 2009 at 8:32 am |
  3. Vickie

    There is some much corruption in this country, the term "going to hell in a handbasket"-this country is going in a brown paper bag; a handbasket will be to good for this country if people and things dont change.

    October 5, 2009 at 8:18 am |
  4. M. O. DiFilippo

    The guest on this segment used references to Acorn and the American Nazi Party. What do you suppose was the point of using those specific references? Why did the host not question those references? Isn't it her job to do so? Cheap shot by guest; failure by media . . . . again.

    October 5, 2009 at 8:12 am |
  5. Dirk Peddler

    No, TARP is not working, none of the 'programs' that have been forced down our throat in the last 2 years are working. Keep and eye on the stock market, every time our celbrity president goes on TV with some bogus news, our stock market takes a nose dive. I know all the programs from the last 2 years have not been Obama's doing, but he's been in office long enough to overwrite them with his own 'smart' programs. No but it's more important to go on vacations to Denmark with his buddies at our expense then to stay home and work hard to get us out of this slump. Time for a recall? You betcha!

    October 5, 2009 at 8:09 am |
  6. LEE T.

    TARP is absolutely not working for middle class. I am a real estate investor who rehabs houses to sell to 1st time home buyers. Unfortunately all of my credit lines have been reduced to their current limits if not closed, all for absolutely no reason! If I can't borrow money to buy and fix up the houses, and my buyers cannot get financing to buy the houses, who exactly is it helping?? Certainly not me, the buyers, the realtors, home depot, the title companies, inspectors, or the city property tax collectors. The only ones that it's working for, is the greedy banks!!

    Lee T. Indianapolis

    October 5, 2009 at 7:54 am |
  7. Vickie

    No tarp is not working – Banks are still operating underhanded, trying to take peoples homes without attempting to help them keep their homes. Banks seem to be taking stimulus money but not following rules as usual. Two such banks are Bank of America and Countrywide just to name two.

    October 5, 2009 at 7:54 am |
  8. LuJuana Millett

    I am a 57 year old women on disability and I have been trying to get my home and equity line modified sense the program became available. Everytime it gets anywhere close to happening.... They find any reason... even make stuff up ... to reject my loan. Including changing the person I am nigotiating with. This has happened repeatedly and I have had to start from scratch 4 times now. This last time my equityline got rejected it was because the mortgage modification was not completed yet. It was at the underwriters. This program is a waste of time and I believe they really want to take my home. Where are all the homeless? I need to know how to get to the end of the soup line.

    October 5, 2009 at 7:54 am |
  9. Evan Mazur

    TARP was an absolute failure and an insult to capitalism and the American taxpayer. In it's approach to business, America has abandoned "sink or swim" and embraced "prop up and bail out". Such an approach encourages moral hazard. If we hadn't bailed out the banks, we would have experienced some temporary pain, but it would only be temporary. The government didn't go on a bailout spree in the depression of 1920-1921, and the reason nobody remembers that depression is because it was over with so quickly.

    October 5, 2009 at 7:53 am |
  10. CAROL


    October 5, 2009 at 7:49 am |
  11. Talitha Mes

    Are you joking?
    TARP working?
    It has simply been another case of "pay-back" with no strings attached and we, the tax payers footing the bill, have no say in how our hard earned money is being squandered.
    Whatever happened to the campaign promises of TRANSPARENCY???

    October 5, 2009 at 7:48 am |
  12. LJ

    Unfortunately, the Tarp program never helped the homeowner. Only the financial institutions who weren't willing to filter those funds down to people hit by the mortgage and unemployment crisis.

    We lost everything because our mortgage servicer neither knew about or refused to work within the alleged parameters of the Hope for Homeowners program that was a complete bust.

    However, true to form, the executives of these financial institutions will still receive their huge bonuses while the middle class continues to reel from their folly.

    Thanks for nothing.

    October 5, 2009 at 7:47 am |
  13. Bernadette Loesch

    No it failed. Since Pres. Obama has been in office he has had to put many other failsafe measures in place to prevent a total worldwide monetary collapse. TARP was a buzz word that the Bush/Cheney Regime used to try and divert our fears from the reality of the situation.

    October 5, 2009 at 7:44 am |