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Geithner: Troubled Asset Relief Program cost is only $ 25,000,000,000
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U.S. Treasury Secretary Timothy Geithner (Timothy Geithner) Thursday (Dec. 16) that the U.S. government during the financial crisis to bail out the financial industry to pay the direct costs will not exceed the gross domestic product (GDP) of 1%. Geithner noted that, as 700 billion U.S. dollars Troubled Asset Relief Program (TARP) as part of the U.S. Treasury Department is expected from the banking, automobile manufacturers, credit markets and the American International Group (AIG), the remaining investment to get a good return. Geithner said in a prepared testimony to Congress, said the cost of TARP is expected to rescue the property market may not exceed the expenditures, the U.S. Congressional Budget Office has estimated the direct cost of TARP will reach 350 billion U.S. dollars, and now the Congressional Budget Office estimated that a cost of only 250 million U.S. dollars. U.S. Treasury TARP latest estimated total cost of 300 million, which includes investment from AIG's profits.