What does TARP stand for?

[kentuck]

Was it used for relief of the "troubled assets"? Or was it used for something else? Are most of those "troubled assets" still on the books of the big banks? Have they sold the worst of the troubled assets to Fannie and Freddie already? What do they plan on doing with the ones they presently plan on foreclosing on? Will the taxpayers refund them for the foreclosed properties?

[Ruby the Liberal]

1. Troubled Asset Relief Program

No, it was not used for that. It was used to clear up all of the side bets between the banks (and AIG) to shore up their balance sheets and pay bonuses.

[kentuck]

2. For real?

:-)

Unbelievable!

[Ruby the Liberal]

3. I know. Shocking, right?

;)

Money into the front door of AIG, out the back door of AIG into the back door of Goldman and bonuses for everybody!

[kentuck]

4. They are so frigging brilliant, aren't they?

At least, they think so. Nothing a little jail time wouldn't cure...