Huffpost Business

What Did TARP Accomplish? Simon Johnson In The NYT

Posted: Updated:

Here is my assessment.

In late September 2008, Treasury Secretary Henry S. Paulson asked Congress for $700 billion to buy toxic assets from banks, as well as unconditional authority and freedom from judicial review. Many economists and commentators suspected that the purpose was to overpay for those assets and thereby take the problem off the banks' hands. Indeed, that is the only way that buying toxic assets would have helped anything.

Read the whole story at

Around the Web

Troubled Asset Relief Program - Wikipedia, the free encyclopedia

FRB: TARP Program Information

Geithner Singled Out In TARP Watchdog Neil Barofsky's Scathing ...

A database to track TARP money

What Did TARP Accomplish?

The Permanent TARP