TARP Cost estimate lowered again

LA Times (via John Chait).

The projected cost of the $700-billion financial bailout fund — initially feared to be a huge hit to taxpayers — continues to drop, with the nonpartisan Congressional Budget Office estimating Monday that losses would amount to just $25 billion.

That’s a sharp drop from the CBO’s last estimate, in August, of a $66-billion loss for the Troubled Asset Relief Program, known as TARP. Going back to March, the budget office estimated that the program would cost taxpayers $109 billion.

No one could have predicted.
And no I don’t get tired of being right all the time.

Rude intrusion:Ken here. For a perspective closer to mine than Robert’s, Donald Marron—who also drank the CBO kool-aid initially—looks at the wider picture of “TARP cost” here.