Matt Yglesias

32 Responses to “Taking the “TA” Out of “TARP””

1. Eric Says:
   November 12th, 2008 at 4:20 pm

   Not to sound like a troll, but this is the third post in a row in which you declare that you don’t know enough about the topic of the post to have an informed opinion. That’s not a good message to send so consistently to your readers.

2. Greg Worley Says:
   November 12th, 2008 at 4:23 pm

   How about Relief Investment Program-Organization Funding Format, or, for short “RIP-OFF”?

3. Th Says:
   November 12th, 2008 at 4:27 pm

   I was thinking “Bank Socialization” or BS for short.

4. - g Says:
   November 12th, 2008 at 4:32 pm

   So…more money to merge then, no?

5. Tim Says:
   November 12th, 2008 at 4:32 pm

   I wonder if Paulson had sold the plan to Congress the way it is being implemented now, would the plan have passed? I really don’t think so, Republicans would have been screaming “nationalization” and “socialism” at every turn.
   I wonder if Paulson knew this, and deliberately sold it as buying troubled assets, rather than buying stakes in the bank.

6. Dismayed Liberal Says:
   November 12th, 2008 at 4:34 pm

   No Matt, TARP is fine. It just stands for “Throw Away (our) Riches Program”.

   Did you know that Goldman Sachs will be getting a $9.8 billion dollar bailout from TARP and turning around and handing out $11.7 billion in bonuses for their amazing performance in 2008? Almost the full value of TARP that is going to financial institutions other than the big commercial banks is going out the door as bonuses to the employees of the firms receiving the bailouts.

7. Sock Puppet of the Great Satan Says:
   November 12th, 2008 at 5:27 pm

   “Paulson says the Troubled Assets Relief Program won’t actually be buying any troubled assets.”

   Is Paulson gonna give a shout-out to Dodd for sticking the clause into TARP to allow for the government to re-capitalize the banks by taking equity stakes?

   Although, the suckiness of the terms of the gubmint’s preferred-stock equity stakes are remarkable. Treasury aint’ getting the best deal for the taxpayer there.

8. John DE Says:
   November 12th, 2008 at 5:33 pm

   T could also stand for Tripartisan. Now that would be a big breakthrough.

9. too many steves Says:
   November 12th, 2008 at 6:14 pm

   I hate to sound naive, but … can he do that? Didn’t the plan passed by Congress call for purchasing crappy assets? Partial nationalization is a whole different ball of wax that wasn’t discussed at all when the original bailout went through.

10. scythia Says:
    November 12th, 2008 at 7:14 pm

    I wonder if Paulson had sold the plan to Congress the way it is being implemented now, would the plan have passed? I really don’t think so, Republicans would have been screaming “nationalization” and “socialism” at every turn.
    I wonder if Paulson knew this, and deliberately sold it as buying troubled assets, rather than buying stakes in the bank.

    Perhaps what we are seeing is a change in administrations producing a change in policy…?

11. SqueakyRat Says:
    November 12th, 2008 at 7:58 pm

    I still can’t believe these people have the future of human civilization in their hands.

12. Ed Says:
    November 13th, 2008 at 3:13 am

    I’d like to see the government start paying the bonuses directly. Or just have a law saying anyone who was in the top 1% income bracket next year qualifies for bailout money, to be financed by a special flat tax on 401Ks.

13. Njorl Says:
    November 13th, 2008 at 9:15 am

    Not to sound like a troll, but this is the third post in a row in which you declare that you don’t know enough about the topic of the post to have an informed opinion. That’s not a good message to send so consistently to your readers.

    On the contrary, the biggest problem with pundits is that they never admit to the slightest shred of ignorance. The standard behavior is to claim omniscience and never admit an error. The sad truth is that most people who write for broad public consumption doesn’t really know what they’re talking about, they just hear a little bit more from those who do. That’s fine. I like to consume that product, and find it refreshing when it comes properly labelled.

14. nicteis Says:
    November 13th, 2008 at 5:39 pm

    Thieves Anonymous Rehabilitation Program would work for this, and all future, permutations and second guessings. And they wouldn’t have to change the letterhead.

15. Paul Kruger Says:
    November 14th, 2008 at 1:48 pm

    More doom for home owners and renters.

    Paulson’s trick will negate the protections afforded to homeowners and renters who’s protections seem to be tied to those securities being purchased by the government.

    If the government has no stake in them then the homeowners have no right to negotiate the mortgage and people who rent can be evicted from foreclosed properties even if they pay on time.

    Nice way to screw even more people to the benefit of the big banks.

    Main street is flooding and plugged the drain with our own money.

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