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Political Economy

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    Geithner: the updated TARP balance sheet

    By Steve Perry | Published Thu, May 21 2009 7:12 am

    When Treasury Secretary Tim Geithner appeared before the Senate Banking Committee yesterday, he brought along an updated accounting of where the TARP money is going and how much is left. The Wall Street Journal's Real-Time Economics blog has the details.

    There's $98.7 billion left in the fund at this point. But note what Treasury is offering as a estimate of fund repayments: $25 billion, or about 4 percent of the $600 billion disbursed so far. This is labeled a "conservative" estimate, and it's certainly at odds with the widespread picture of freshly healed, post-stress-test financial sector rushing to return TARP moneys.

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    Illustration by Hugh Bennewitz


    minnpost.com/steveperry



    Steve Perry is a widely published critic of politics, culture and the arts whose work has appeared in Rolling Stone, Spin, Counterpunch, LA Weekly, the Boston Phoenix, London City Limits and Salon. He began his journalistic career as a music critic for City Pages back in 1984. He was editor of City Pages from 1989-1997 and 2002-2007. In addition, he is also a former contributing editor to Musician magazine and the acclaimed music industry newsletter Rock and Roll Confidential. Perry was most recently editor of the Minnesota Independent.

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