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Taking Away your Right to Payments (TARP)

Ben Bernake

The O’Bama administration recently announced that before the Troubled Asset Relief Program expires in October some $30 billion of the $700 billion in the fund is to be used to promote consumer and small business lending.

Now, I may be reading too much into this, but by setting aside just a fraction of the fund, this late in the game, and only after bailing out the financial industry, the Feds are sending the unmistakable message that consumers continue to be a low priority despite the fact that unemployment remains at 10% nationwide, the number of homes lost to foreclosure continues to rise, and new mortgages are an endangered species.

All of which begs the question – what the hell has the administration been doing thus far? I mean besides lobbying for a Nobel Prize …

Source: Huffington Post

1 Response
  1. ed

    Forcing a health bill that the public really doesn’t want. Add to it Harry Reid’s little attempted provision that would negate any future attempts to repeal the bill once in place and we see clearly what this administration is doing – bankrupting a nation for future generations. Bravo, Barry!

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