This afternoon President Barack Obama announced that his administration would shift TARP’s $700 billion bailout fund away from big financial institutions and toward small businesses through small banks.Specifically, the Treasury Department will offer capital from TARP, at a 3% rate, to viable banks with less than $1 billion in assets. These small banks must first submit a plan explaining how the capital will allow them to increase lending to small businesses. But remember that TARP was originally sold to the American people as a way to protect the economy from …
Leaders in the House and Senate have a secret plan to pass President Barack Obama’s sweeping health care plan without a conference and without any participation by the American people … but that plan that has been pushed to Plan B. The primary plan is to use a secretive conference committee procedure to pass Obamacare by the end of the year. Yesterday, the Senate Finance Committee passed the outline of a bill, The Vapor Bill, out of committee on a party line vote with the lone crossover Republican support of …
