Here is an article from Powerline about the Troubled Asset Relief Program (TARP).
The moneyline:
Read the whole thing. $3 Trillion will not be the end number of this program, it will be higher.
Stew's View: It will not make a difference that TARP has been illegally expanded, since the US Supreme Court has been limiting the ability of taxpayers to bring suit against the government. This leads to a harm without a remedy and the timeline difference between TARP disbursement and the glacial pace of lawsuits means the money will be long gone before any action is taken. The only action that could have prevented this is to not do it in the first place.
The moneyline:
The Inspector General's report documents the stunning and at least partly illegal expansion of TARP from the $700 billion originally allocated by Congress to what is now a $3 trillion complex of programs.
Read the whole thing. $3 Trillion will not be the end number of this program, it will be higher.
Stew's View: It will not make a difference that TARP has been illegally expanded, since the US Supreme Court has been limiting the ability of taxpayers to bring suit against the government. This leads to a harm without a remedy and the timeline difference between TARP disbursement and the glacial pace of lawsuits means the money will be long gone before any action is taken. The only action that could have prevented this is to not do it in the first place.
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