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Watchdog says it's too soon to know how much TARP money will be repaid

WASHINGTON (AP) - The man who watches over the $700 billion in government money given to banks and other institutions to avert a financial collapse says it's too early to say how much will be repaid to the taxpayers.

Neil Barofsky, inspector general for the Targeted Asset Relief Program, said on CBS's "The Early Show" Wednesday he believes "it's unrealistic" to think the government can get all of the money back.

The Treasury has spent more than $454 billion through TARP programs. Forty-seven recipients have paid back nearly $73 billion. That means more than $317 billion remains unrefunded, with the program expiring Dec. 31. Asked how he would grade the program, Barofsky said, "I think right now it would have to be an incomplete."


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