My New Blog

To date nearly half of the $350 Billion of the $700 Billion TARP (Troubled Asset Relief Program) fund, approved by congress and earmarked to “bailout” financial institutions, has been distributed. At week’s end about $17B remained uncommitted, that is, until President Bush and TreasurySecretary Paulsen went on a pre-Christmas spending spree.

Two things are certain: 1) If there is money in the bank, Washington cannot resist spending it and; 2) The Administration does not want the big three auto manufactures debacle to erupt on their watch – solution: to dish-out just enough to carry the big three through the inauguration and leave it on the desk of the new President and Congress.