Is the Bank Bailout Still Going On?

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Four years after the Toxic Asset Relief Program, America's twelve biggest banks are bigger than ever — and still protected by the guarantee of taxpayer money. Even a member of the Federal Reserve says they need to be broken up before increasingly risky investments provoke another financial crisis. TARP, supported by both the Bush and Obama Administrations, was supposed to provide foreclosure relief for abused homeowners, but a pending settlement is now being described as "another gift to the banks." We hear about the consequences, intended and otherwise, of government action to "save the economy."




Warren Olney