The Congressional Budget Office confirmed yesterday that when all is said and done, federal monies provided to American International Group Inc. (AIG) under the Troubled Asset Relief Program (TARP) will cost the U.S. Treasury about $14 billion.
The CBO noted that total cost of the program, which provided assistance to several other financial institutions, the auto market and other programs, will be about $25 billion over the life of TARP. This amount is “substantially less” than the $109 billion estimated in March (in its March report, CBO estimated that TARP assistance to AIG would cost about $36 billion over the life of the program).
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