December 04, 2009

The U.S. gets billions back as Wall Street rebounds. But critics say the TARP fund will still end up in the red.Reporting from Washington and New York - The government's bailout of the banking system is turning out to be far from the fiscal sinkhole so many had feared.The $700-billion Troubled Asset Relief Program, known as TARP, was reluctantly created by Congress last fall despite criticism that it was a huge risk that would only encourage the profligate ways of Wall Street.

But in recent months, tens of billions of dollars have begun flowing back from banks to the U.S. Treasury.Bank of America Corp.'s decision this week to repay one of the largest chunks -- $45 billion -- reflects the stunning turnaround of the financial industry and demonstrates that the government's unpopular medicine appears to have saved the patient. And the price tag isn't as large as expected.