Treasury Secretary Timothy Geithner Testified before the U.S Congress on TARP where he stated that the U.S government decision to extend the $700 billion bailout plan until October was Limited, Qualified Extension.
The Troubled Asset Relief Program (TARP) was presented to the markets in the peak of the financial crisis to help the economy from the worst financial crisis since the Great Depression; the program originally ends December 31. Geithner stated that It would be Irresponsible to do otherwise.
Most banks that acquired bailout money returned the money faster than expected along with interest and other returns means that the cost of the program will cost $200 billion which comes below the previous expectation.
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