FROM David Paul Kuhn
The Bank Bailout Is Over but the Fallout Continues The Troubled Asset Relief Program, or TARP , officially ended last Sunday. It was rolled out two years ago in the midst of a worldwide financial panic by George Bush’s Treasury Secretary Henry Paulson. He said $700 billion to bail out the banks, and Congress gave it to him. Now Senators and Representatives members of both parties, and the Obama Administration are playing an enormous political price.
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?
Democratic Party Leaders Working for June Solution Minnesota Senator Amy Klobuchar today became the second female Senator to endorse Barack Obama . Hillary Clinton has six. Obama says it's alright with him if Clinton stays in the race until the August convention , but many Democrats don’t feel that way. Tennessee Governor Phil Bredesen says the super-delegates ought to get together in June. Bill Clinton's reassurance yesterday to Democrats worried about the risks of a nominating campaign that drags on until August has not resolved the anxieties of many party leaders, and they're meeting in the modern equivalent of smoke-filled rooms. That's according to Politico.com in a story co-authored by David Paul Kuhn.
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Ex-FBI Director Comey tells his side of the story Today, former FBI Director James Comey came close to calling the President who fired him a liar. The White House denied the claim and called it insulting, but Republican Senators did not challenge Comey’s truthfulness. Many questions remain: did the President try to obstruct a federal investigation? Later, we’ll go behind the “velvet rope” for a look at 5-Star health care for the richest Americans.
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.
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