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Saturday, March 28, 2009

"...this new era of transparency and accountability..."

An internal e-mail at a global investment bank commenting on TARP (Troubled Asset Relief Program) ....


Tsy Sec Geithner was asked twice this week about how much money was left in TARP. The WSJ reports this morning that according to Dow Jones News calculations show only $52.6bln is left in TARP - at best. That is about 92% already committed - so what is left to rid bank balance sheets of toxic assets. The Tsy Dept has not yet provided an official accounting total in this new era of transparency and accountability and regulation for everyone else.


As Barry would say "That was a campaign promise."

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