This is very dangerous territory. In dollar terms, the numbers being applied to the various problems are so colossal -- trillions! -- that the death of our currency seems assured. And in defiance of congress's express intentions, none of the TARP "money" has been applied to its targeted purpose of buying up "toxic" (i.e. fraudulent) securities hidden in the vaults of banks, pension funds, and municipal portfolios.
Mr. Obama's pick for attorney general, the mild-looking Eric Holder, may be the key figure in the early months of the new government. If he doesn't commence some aggressive investigations and prosecutions -- beginning with Henry Paulson for insider trading when he was in charge of Goldman Sachs and shorting his own company's mortgage-backed securities -- then the whole Obama enterprise could fall under suspicion of illegitimacy. The bums who ran the US banking sector into a ditch have to account for their turpitudes. They can't be allowed to hide under a TARP.
I certainly don't expect an aggressive investigation of Treasury Secretary Paulson to occur, but that doesn't mean it shouldn't. The more I learn about "Hank", the more I want to vomit. Did you know that prior to his career at Government Sachs, Paulson was assistant to John Ehrlichman during the events of the Watergate scandal?
Not ready to spew, yet? Well then read Dave Zirin's piece on Hank and his son Merritt, and have a bucket handy. Their latest bamboozlement is a doozy.
Then consider using one of your X-mas gift cards to purchase Zirin's new book, A People's History of Sports in the United States.