All Commentary
Friday, October 1, 2010

TARP Comes in Below Estimate

“Even as voters rage and candidates put up ads against government bailouts, the reviled mother of them all — the $700 billion lifeline to banks, insurance and auto companies — will expire after Sunday at a fraction of that cost, and could conceivably earn taxpayers a profit.” (New York Times)

It wasn’t the amount; it was the principle, precedent, and moral hazard. P.S.: The taxpayers won’t be getting the money.

FEE Timely Classic
“Too Big to Fail” by Michael Heberling