TARP: Gone but Not Forgotten
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The bank bailout -- or Troubled Asset Relief Program -- has become the leading symbol for the current hatred of government, on the Left as well as the Right. Was TARP the savior of the economy or the original sin? Now that it’s over, what did it really cost? Also, the US waives health insurance minimums for 30 companies, and Roy Halladay throws the second no-hitter in more than 1000 post-season baseball games since 1903.
Banner image: Thousands of workers and union members gather for a rally and a march on Wall Street April 29,2010 to protest lost jobs and the taxpayer-funded bailout of banks. Photo: Timothy A. Clary/AFP/Getty Images
US Waives Health Insurance Minimums for 30 Companies ()
Since healthcare reform requirements went into effect, there's been stiff resistance from some businesses and insurance companies. Now it turns out the Obama Administration has been granting waivers that will keep a million workers insured, while denying them some consumer protection. Drew Armstrong writes for Bloomberg Business News.
- Drew Armstrong: Healthcare Reporter, Bloomberg News
The Bank Bailout Is Over but the Fallout Continues ()
The Troubled Asset Relief Program was rolled out two years ago in the midst of a worldwide financial panic by George Bush's Treasury Secretary Henry Paulson. Introduced as a $700 billion bank bailout, it only spent a bit over half that much before officially ending last Sunday, and it might end up costing just $29 billion. Cheap at the price if it staved off a Depression, why is it one of the most unpopular programs in history? TARP saved Wall Street, AIG, General Motors and Chrysler, but failed to keep homeowners out of foreclosure and banks still are not lending. Now Senators and Representatives members of both parties, and the Obama Administration are playing an enormous political price. Do bankers getting bigger bonuses than ever think the government will bail them out next time? What are the prospects of that?
- Deborah Solomon: Reporter, Wall Street Journal
- Damon: Deputy Chair, TARP Congressional Oversight Panel
- Felix Salmon: Finance blogger, Reuters, @felixsalmon
- David Paul Kuhn: Chief Political Correspondent, RealClearPolitics.com
No-Hitter Makes Playoff History ()
In more than a thousand post-season games played since the World Series began in 1903, only once had there been a no-hitter. Last night, in Philadelphia's first game against the Cincinnati Reds in the division playoff, Phillies pitcher Roy Halladay threw the second post-season no-hitter, in his first post-season start -- and his second no-hitter this season. Matt “Money” Smith is co-host of the Petros and Money Show on KLAC AM570, which is also heard nationally on Fox sports radio.
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