paulsonandbernankeTARP is the Troubled Assets Relief Program introduced by Henry Paulson in September of 2008. TARP is also considered the mortgage bailout bill. Paulson claims this program is not to be a stimulus package. The purpose of this program is to take bad mortgages off the books of banks and mortgage lenders so they no longer hinder new loans. These mortgages are to be transferred over to the books of the federal government in order for them to no longer exist within the American financial system. Through TARP, banks and mortgage agencies are to use these relief funds to transfer these debt off their books. But what is the money actually being used for? Almost immediately after passing, funds to purchase troubled assets went instead directly into the pockets of banks in the name of “recovery”.  Now there are still endless troubled assets on the market heavily weighing down banks, mortgage lenders and our economy.

www.weeklystandard.com/…/tarp_oversight_chair_says_she.asp

http://www.zecco.com/blogs/zeccoscoop/Is-TARP-Working.aspx

http://politicianscandal.com/159/can-we-blame-henry-paulson-for-the-lousy-economy

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