The October 4th blog entry, Executive Compensation (Sec 111), looked at the TARP rules governing executive pay, and concluded that "... Bottom line, this is very lose - with undefined terms and hedged with exceptions and 'outs.' Enough for senators and representatives to tell their constituents that they have acted on this matter, too little for any meaningful effect..." Now, two and a half months later, the Congress suddenly appears to have realized this! Way to go, geniuses...The September 27th blog entry, Confused and nowhere to go (updated), tried to estimate the amount of "toxic waste" that the TARP was intended to cure. Amazingly, so far not one dollar of the TARP has been used to purchase toxic assets (the TARP's ostensible purpose), and in fact one hardly hears about "toxic assets" any more in the news!
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