Here’s why TARP’s $24 billion profit is so important: The profit confirms that what happened in October 2008 was truly a panic, truly a situation where a buyer of last resort could restore values by decisive action. Which is what happened. Had such a thing happened in 1931, the whole history of the world would have been different.
There’s a lot to indict in the recent financial management of the United States. TARP should not have been necessary. But it was, and the profit is the proof.