TARP Chief: Most Banks Using Funds For Lending

Courtesy NPR Programs: Morning Edition  Tue, 07/21/2009 - 5:45am

To date, banks have received more than half of the $700 billion of federal bailout money. Neil Barofsky, the special inspector general for TARP — the Troubled Asset Relief Program — is in charge of tracking those funds.

In his quarterly report, he says more than 80 percent of the banks surveyed reported using the government money for lending.

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