TARP , ACT TWO !

Years ago I bought a few tarps from the Harbor Frieght and Salvage company.
They were a hazy shade of blue and could be used to cover a whole bunch of stuff
if the wind wasn't blowing in any direction that is. Former Treasury Secretary Paulson’s decision to abandon plans to buy troubled bank assets shows that he had come to two conclusions about what was once the administrations chief focus of the government’s $700-billion bailout. The first is that it wouldn’t work, all it would do is give friends of the white house big dollar payoffs. The second is that the economists and financial experts who agitated to have capital injected directly into the banking system now appear to have been right all along. Paulson announced that the federal government would formally abandon plans to buy troubled mortgage backed securities from banks and other big investors to instead focus its efforts on thawing credit markets. Now with the new guys in the white house holding the reins of the rest of the "TARP" money, I wonder what new tricks the new guys will come up with to line thier friends pockets? I guess it will depend on what direction the wind is blowing. I've come to the conclution that the best thing for the feds to do is stand back and punt. Giving the economic ball back to the consumers. Let's have another holiday shopping season. We could call it Obama's Mammas day or something like that. The feds could give everybody a nice brand new crisp hundred dollar bill with Bernie Madoffs picture on it, to spend any way they so choose.
I'd spend my Bernie bucks on pistachio nuts.


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