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Tuesday, September 22, 2009

Step away from the TARP!

I’ve often said during the politics-over-lunch conversations with my friends that I would love to see Congress just roll back the TARP program. Well it looks like there is some momentum to end the TARP funding.


In a letter to Treasury Secretary Timothy Geithner, the [40] senators said the program's unobligated funds should be used to reduce the national debt. The bailout initiative, called the Troubled Asset Relief Program, is scheduled to end Dec. 31, but Geithner could extend it to Oct. 3, 2010.

"While we understand that our economy is still recovering, we believe it can function without added TARP funding," the senators wrote.

So will Geithner give up his recently granted power? Does anyone ever without a fight? or will he extend it and continue to attempt to prop up an overinflated housing market?

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