TARP
If You Thought the Last Bailout of Wall Street Was Disastrous, Here Comes TARP on Steroids by David Sirota
I recall that September day like it was yesterday -- the explosion so stunning, so memorable. It wasn't 9/11/01, it was 9/29/08 -- a moment when a rare blast of populist democracy briefly singed the economic terrorists who hold the Capitol hostage.
Henry Paulson’s Longest Night by Todd Purdum
It was February 2008, and Henry M. Paulson Jr., a prince of Wall Street turned secretary of the Treasury, was reflecting on his biggest achievement to date: a $168 billion economic-stimulus package that had passed Congress four days earlier after swift, bipartisan prog ress through both houses. In light of all the later twists and turns that the global financial system and the national economy took, this measure would come to seem quaint and fainthearted.
The real price of Goldman's giganto-profits by Matt Taibbi
"Equity underwriting boomed during the period as dozens of banks raised money to strengthen capital and repay Troubled Asset Relief Program funds. The business reported record revenue of $736 million."-- Wall Street Journal.
'It's time to enshrine Hank Paulson as national hero' ... what the fuck? by Matt Taibbi
"Hank Paulson is a national hero.
I said it last October and I'm sticking by it. And now, there's actual evidence to back me up. The TARP bailout worked. The Wall Street crisis is over."
-- Evan Newmark, "It's Time to Enshrine Hank Paulson as National Hero," Wall Street Journal.
So here's the letter I wrote to the Wall Street Journal after reading Evan Newmark's paean to Hank Paulson last week:
Dear WSJ,
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