Tarp was mixed success, Congressional panel concludes

The Congressional Oversight Panel - the body charged with overseeing the Troubled Asset Relief Program (Tarp) on behalf of the US Congress - issued its final report yesterday, calling the multi-billion-dollar financial bailout package a mixed success.

In broad terms, Tarp succeeded, the panel wrote. It staved off the risk of a second Great Depression, and did so at considerably lower cost than expected - according to the Congressional Budget Office the current estimated total cost is $25 billion