Congress
Democratic 41 Yea; 10 Nay
Republican 33 Yea; 15 Nay
Total - 74 Yea; 25 Nay
Any effort to pin the “blame” for TARP on Democrats alone is absurd, as all groups except House Republicans (barely) voted more than 50% for the bill. Besides, right now it’s easy to hate on TARP, especially in light of the executive bonuses and all the other mini-scandals that emerged AFTER it. However, at the time the US economy was in a state of near freefall, and there was widespread fear the bank system would collapse. It might have been a deal with the devil, but the alternative didn’t look any better.
As for how much money the government would get back, that remains to be seen. I think a noteworthy percent of it would get paid back, though.
True, many Democrats voted for TARP. So did a fair few Republicans. Here are the votes:
House: Democratic 172 Yea; 63 Nay Republican 91 Yea; 108 Nay Total - 263 Yea; 171 Nay
Congress Democratic 41 Yea; 10 Nay Republican 33 Yea; 15 Nay Total - 74 Yea; 25 Nay
Any effort to pin the “blame” for TARP on Democrats alone is absurd, as all groups except House Republicans (barely) voted more than 50% for the bill. Besides, right now it’s easy to hate on TARP, especially in light of the executive bonuses and all the other mini-scandals that emerged AFTER it. However, at the time the US economy was in a state of near freefall, and there was widespread fear the bank system would collapse. It might have been a deal with the devil, but the alternative didn’t look any better.
As for how much money the government would get back, that remains to be seen. I think a noteworthy percent of it would get paid back, though.