The Troubled Asset Relief Program should be run like a business with a goal of returning as much of the involuntary investment as possible to its owners--the taxpayers--along with a reasonable overall profit.

During two closed sessions before the luncheon, committee members discussed the latest in financial regulation issues. At a luncheon briefing following these sessions, SFRC members gave several statements and answered questions.

On April 13, 2012, the US Department of the Treasury released new cost estimates for the Troubled Asset Relief Program. Looking principally at actual and projected contractual cash flows, the document concludes that: "Overall, the government is now expected to at least break even on its financial stability programs and may realize a positive return." 

As the president has ramped up into campaign mode, he has studiously avoided mentioning most of his signature accomplishments. One can see why. The one thing President Obama always seems to mention is the auto bailout. His implication that the bailout is succeeding-that it will not ultimately be a loss for taxpayers-is a constant theme of Democrats.

The federal government has taken over large swaths of consumer lending, most notably the $10 trillion home mortgage and $1 trillion student lending markets. The government's share of new loans for each now approaches 100%.Government monopolies in financial services pose risks to taxpayers as well as borrowers

Under the Dodd-Frank financial-reform law, large nonbank firms may be declared systemically important because their failure will cause a systemic breakdown. In effect, this amounts to a government statement that these firms are too big to fail.

The question of the proper size and scope of government creates many rifts, even among conservatives. In this AEI debate, both Brooks and Ryan make the case for their competing visions of America. The conversation serves as a vivid reminder that even those who often agree on most things can differ on the basic question of the government's purpose.

On January 14, the Administration proposed that large banks (those with consolidated assets above $50 billion) be taxed to reimburse the federal government (and thus taxpayers) for the costs of the Troubled Asset Relief Program (TARP).