Friday, December 12, 2008

One final disaster

It seems the Bush White House is not content with the past eight years of policy disasters. After bucking the sentiment of most Republicans in Congress and cutting a deal with Democrats on yesterday’s auto-industry bailout (which failed to pass), it seems Bush & Co. are now exploring if and how they can reroute money from the Troubled Assets Relief Program (TARP) – intended for the banking industry – to the auto industry.

The TARP program, already a disaster thanks to lack of focus and lack of oversight, is now destined to become a kind of executive branch slush fund, from which the President can aid companies and industries of his choosing.

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