Measuring the Cost of the TARP - Brookings Institution

Focusing on the wrong number is dangerous. It is a well-known axiom of politics and business that the answer to a question can be determined by how you frame it. In this case, the key framing issue is how you measure the cost. Telling the public they could lose $700 billion has naturally produced a firestorm of resentment. We might instead have gained at least grudging public support by framing the cost differently, given the dire circumstances. Consider the potential reaction to an estimate of $175 billion of expected losses with a chance it could rise to $300 billion in a very bad case, offset by a reasonable chance the ultimate cost would be lower than expected.

Measuring the Cost of the TARP - Brookings Institution