There was nothing wrong with TARP. It was the total lack of oversight and rules for that bailout that was the problem. That, and the fact that they didn't have to eat any shit at all. Goldman-Sachs got 100 cents on the dollar for their bad paper. AIG had no checks on their bailout money. That was all Paulson (the ex-CEO of Goldman-Sachs), and Bush.There's a lot of things Herman has done that tarnish his image. For example, he supported TARP and called anyone who didn't support TARP as "purists."
The money that Obama negotiated to save Chrysler and GM was structured, regulated, had conditions applied (among them, the removal of the CEO and other top executives), and had a built in profit for the taxpayers upon re-payment.