The cost of TARP vs. other historic Federal government expenditures

NEW -> Contingent Buyer Assistance Program
They only real problem with TARP is giving all that money and power

to Goldman Sachs and Henry Paulson. All with no accountability.

He can change his mind at anytime and use these funds however he sees fit.

Power Corrupts.

Absolute power. Priceless.

Guess who was an assistant to John Ehrlichman during Watergate ?
 
In the last year, the government has assumed about $7.8 trillion in direct and indirect financial obligations. That is equal to about half the size of the nation’s entire economy and far eclipses the $700 billion that Congress authorized for the Treasury’s financial rescue plan.

$7.8 trillion in one year, for perspective.

I wonder what next year will bring, or even the rest of this year.
 
awgee said:
In the last year, the government has assumed about $7.8 trillion in direct and indirect financial obligations. That is equal to about half the size of the nation’s entire economy and far eclipses the $700 billion that Congress authorized for the Treasury’s financial rescue plan.

$7.8 trillion in one year, for perspective.

I wonder what next year will bring, or even the rest of this year.
Click to expand...

I'm afraid to see what Bernanke and Paulson cook up over Thanksgiving. I'm dreading seeing the headlines on Marketwatch.com on Friday. It will probably be something like:

Retail

Investment

Program

Obvious

Federal

Folly
 
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