THANKS, W!:

Bailouts are shaping up to be cheaper than expected: The U.S. expects to recoup most of its bailout money. (Jim Puzzanghera, 2/28/11, Los Angeles Times)

"It's turning out to cost one heck of a lot less than what we all thought at the beginning," said Ted Kaufman, a former U.S. senator from Delaware who heads the congressionally appointed panel overseeing TARP.

Get the monthly that has L.A. talking. Subscribe to Los Angeles Times Magazine at a special introductory rate.

In mid-2009, the program was projected to lose as much as $341 billion. That's been reduced to $25 billion — partly because of the controversial decision to pump much of the TARP money into banks instead of launching a large-scale purchase of securities backed by toxic subprime mortgages.

There is now broad agreement that the bailouts worked, stabilizing the financial system and preventing an even deeper crisis.