While big banks that received TARP funds are benefiting because of better credit ratings from the implied message their business is government guaranteed, the taxpayer has yet to see significant improvement in lending and in the foreclosure crisis from TARP, said Elizabeth Warren, chairman of the Congressional Oversight Panel.
Warren also said the bailout fund is not intended for job-creation as the Obama administration is reportedly now considering.
"The original language has real specificity about the way money can be used; the money has to go into the banking system."
