Overview

• Batya Ungar-Sargon inaccurately stated on CNN and social media that President Obama’s 'first act' in office was passing the 2008 TARP bailout, which was actually signed by President George W. Bush.
• The TARP bailout, enacted in October 2008, was designed to stabilize the financial system during the global economic crisis and was passed months before Obama took office in January 2009.
• Ungar-Sargon doubled down on her claims, also misrepresenting actions by President Trump in 2024, prompting sharp criticism from journalists, commentators, and fact-checkers.
• Political commentators, including Tommy Vietor and John Harwood, publicly refuted her statements, highlighting the importance of historical accuracy in political discourse.
• The U.S. Treasury confirmed that while $700 billion was authorized for TARP, the net cost to taxpayers was significantly lower at $31.1 billion after repayments and interest.