Congress gave Hank Paulson the $700 billion, and the first thing he did was to take $125 billion out of the bag and give it to his pals at the nine biggest banks and investment banks in the country. Never one to display ingratitude, he gave $10 billion to Goldman Sachs, the firm he had headed before passing through the revolving door to the Treasury. He went on to give other big financial institutions a cut of the loot, too. So generous was old Hank with the taxpayers’ money that he has now handed out $290 billion of the $350 billion that Congress authorized him to spend immediately. FULL ARTICLE
The TARP Is Dead, Long Live the TARP
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