Neil Barofsky, the special inspector general overseeing the Troubled Asset Relief Program that began under President George W. Bush, and was expanded under President Barack Obama, states in his Quarterly Report to Congress:

“It’s unrealistic to think we’re going to get all of that money back.”

“Despite the aspects of TARP that could reasonably be viewed as a substantial success,” he wrote, “Treasury’s actions (i.e. ‘Treasury’s refusal to require TARP recipients to report on their use of TARP funds, its less-than accurate statements concerning TARP’s first investments in nine large financial institutions, and its initial defense of those inaccurate statements’) have contributed to damage the credibility of the program and of the government itself, and the anger, cynicism and distrust created must be chalked up as one of the substantial, albeit unnecessary, costs of TARP.”

The Treasury Department has spent more than $454 billion. Of the $454 billion only $73 billion has been paid back, while $317 billion remains outstanding.

Source: Yahoo! News and SIGTARP