Despite Congress essentially rejecting the idea of a bailout last week, today President Bush did an end-around of sorts and dipped into the TARP coffers for billions to aid Chrysler and GM.
The money is coming from TARP. Perhaps you remember it. That's the $700 billion war chest of sorts designed to shore up our fledgling economy. Half was tapped in October, and since the lionshare of that money has been spent, the rest is expected to be made available some time next month.
Even for the U.S. government, $700 billion is a lot of money. We wanted to know where it all went and came across this article.
Published at 5:15 PM EDT on Jul 15, 2009 | Updated at 7:55 PM EST on Dec 19, 2008