When George W. Bush, Henry Paulson, and Democratic Congressmen began pushing the $700 billion Troubled Asset Relief Program (TARP), I was strongly against it.  Not only did the government seem to pull the amount out of thin air, but the plan seemed sketchy, and the intervention  seemed to be rushed through too quickly for my liking.  Any attempt at debate was quashed in the name of quickly saving the economy.  As you know, half the TARP funds have been released, and the idea of purchasing "toxic securities" from lenders has changed to offering cash infusions, which it turns out aren't being monitored very closely.  Now, Barack Obama and George W. Bush are attempting to free up the second installment to offer more direct help for home owners.  

     When it's  all said and done, I have a feeling that history will judge TARP as being an ineffective mess.  From what I've read and seen first hand, it doesn't seem to have opened up the credit markets as was expected, and the lack of oversight leaves it ripe for abuse.  In the coming weeks, we will be hearing more about Barack Obama's stimulus plan.  Hopefully, any money that is disbursed will be targeted for specific uses and monitored appropriately.  After all, if a particular use is truly important and well-planned, it shouldn't change all of a sudden.  I have many concerns about the stimulus and I fear it will be mishandled in the same way as TARP.


http://news.yahoo.com/s/ap/20090112/ap_on_go_co/obama_economy