Bailout watchdog head Elizabeth Warren gives the TARP a mixed review.
WASHINGTON (CNNMoney.com) — Was it worth it?
Fourteen months and $700 billion dollars later, did the federal TARP bailout do the job?
A bailout watchdog group, addressing those questions in a report released on Wednesday, gave the Troubled Asset Relief Program a mixed report card.
The Congressional Oversight Panel found that TARP stopped the financial panic and stabilized the banking system after the once-in-a-lifetime measure was hurriedly enacted in October 2008.
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I work with almost every lender in this country and their homeowners who are behind on a daily basis for it is my job. If I was grading this bailout and what the lenders have done with it, the grade would be an F. Chase and Bank of America in my opinion are the worst. The reason I state this is in particular is because they are the largest and have the most issues with their reviews. I could give numerous examples of their incompetence and honestly wish I had someone from this bailout project on the phone with me each day. They would see why these reviews for assistance take so long and they would wonder how helpful that bailout really was.