Read more about the article Through a tarp over TARP – it’s done!

Through a tarp over TARP – it’s done!

I’ve been a little remiss lately, but I’m energized by the flood of information about the woeful TARP plan. The New York Times on Sunday sketched out the results they’ve uncovered, which are abysmal. Isn’t it amazing that in the infinite wisdom of our Washington leadership that they’ve ploughed $350 million into a program full of promise but bereft of results?

First, there is no obligation that the financial institutions receiving the TARP money have to publicly disclose what they’re doing with the money. (more…)

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Read more about the article Dumb or Dumberer?

Dumb or Dumberer?

It’s truly stunning that the Senate today failed to pass an assistance program for the auto industry.

I’ve tried not to be too vociferous about all of this, and I’ve written before about being in favor of a bridge loan to the automakers despite the railing of my capitalist friends, but this decision is truly mind-boggling!

It’s unarguable that our economy is extremely fragile. I think it’s equally clear . . . crystal . . . that it cannot withstand the catastrophic results of a failure within our largest manufacturing sector, which arguably supports  2.5 – 3 million jobs, without great harm to the economy in all of its incarnations . . . unemployment, consumer spending, etc.

The Senate has shown again how out of touch they are . . . (more…)

Continue ReadingDumb or Dumberer?