With the recent use of TARP funds to offer a bailout of sorts to the automakers the first $350 billion of the $700 billion that Congress authorized for Generalissimo Bush to rescue the financial industry has now been allocated. Congress must now decide whether or not to authorize the remaining $350 billion. The Democrats must, at this late date, show some backbone, and keep the money until Obama is President.
As of Monday December 22 there are only 17 business days left in the Bush junta’s occupation of the White House (December 26 is a federal Holiday this year). Of all it’s miserable venal failures, the use of TARP has not been the worst, but at this point horse sense dictates that the Obama administration could do a more effective job of revitalizing the loan market. Holding the remaining TARP money until the real president takes over will also stop Generalissimo Bushfrom doing something fratish and evil at the eleventh hour like bailing out Haliburton for 223 billion.
Stiffen your cartilage Congressional Democrats, and hold the money until a President with the popular support of the citizenry can spend it.