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  • What's the Purpose of TARP?  [View article]
    The legislators who passed TARP believed one of its purposes was to keep people in their homes and included language to that effect. Paulson turned the first installment into a rescue plan for the people he feels are important, all of whom occupy corner offices on Wall Street.

    It seems like a kind of rough justice to place the second half of the program under the control of someone like Elizabeth Warren, whose priorities are diametrically opposed to Paulson's.

    There has been a huge amount of greed, fraud and dishonesty on the part of all players in the mortgage game: what is needed to make the system work is accountability for everyone. Unfortunately partison politics insists on taking sides in the blame game.





    Dec 31 07:14 am |Rating: +1 -1
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