The TARP Just Morphed into CRAP
Can't say I didn't see this coming. The Government's $700 billion TARP (Troubled Asset Relief Program) just yesterday morphed into CRAP (Capital Redistributed As Pork).
I just read that Treasury Secretary Paulson has announced that he is changing the purpose of the recently passed TARP from an asset relief program into a capital investment program in his old colleagues' financial firms (Paulson is a former Goldman Sachs investment banker). As I understand this change, these capital investments don't have restrictions on how the money is to be used. The AIG resort weekends are just the tip of the iceberg-- the party with other people's money (taxpayer money) continues . . .
Supposedly the taxpayer is going to "make" money on this program . . .
I mentioned in my post yesterday, Where's Our Bailout? , that you need to create your own bailout and look for ways to reduce your taxes-- this is even more important now. I will move up some planned tax reduction/savings posts to help with this concept. I will get these up by Monday at the latest so that we all have a shot at preserving some quality in our lives as more people seek to limit our budgets.
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