WashingtonWatch.com has never been profitable. Maybe someday it will be, but there aren’t enough of you yet. And also, it’s not profitable because of the downturn in the economy.
Why do I say that? Because the Washington Post is reporting that the Obama administration plans to give bailout funds to millions of small businesses.
The [...]
The Government Accountability Office has a report out on the financial services bailout law and the Troubled Asset Relief Program, or “TARP.”
As of January 23, the Treasury Department has disbursed about $293.7 billion, mostly to purchase preferred shares of 317 financial institutions. That’s a bit over $3,000 per U.S. family, just shy of $1,000 [...]
“[T]roubled assets from any financial institution.” That’s what the financial services bailout bill allowed the Treasury Department to buy: “troubled assets from any financial institution.” They were talking about bad mortgages.
But then the money got used to buy pieces of financial institutions themselves. Some Members of Congress raised a stink when word circulated that [...]