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Massachusetts Liberal

Observations on politics, the media and life in Massachusetts and beyond from the left side of the road.

Friday, December 04, 2009

Throw a TARP over it

Now that Citigroup will be standing alone as the last major bank to still be on federal life support, aka, TARP, it's time for a few questions.

How has the federal treasury done? The money was supposed to be repaid with interest -- what has that been worth to taxpayers?

If the treasury has benefited, what does that mean for the ability of the government to finance a lifeline program for real folks who need jobs?

If the banks are solvent enough to return the cash, have they also responded with easing credit? If not, why not? That will be a particularly interesting question with Bank of America, since the published reasons for their decision to pay the money back is to ease the restrictions on what they can pay their next CEO.

Left unsaid too is what, if anything does Congress intend to do to rein in the excesses that led to the financial crash.

I have questions. Who has answers?

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