Wednesday, November 19, 2008
2 comments:
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So yesterday Paulson told a congressional hearing that the 700 billion dollar Troubled Assets Relief Program (TARP) wasn't going to be used to buy "troubled assets" after all, he (Paulson) was just going to use it as he sees fit, right now to recapitalize banks and other financial institutions. I guess he could use it to buy mink-lined alarm clocks if he wanted to, there don't seem to be any restrictions on his power to use any old way he wants to use it. 700 billion dollars. Sheesh.
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Econ Editor Replies:
ReplyDeleteNice work if you can get it.
We're just happy about our mink-lined alarm clock factory/distributorship.