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TARP: The Sequel

There was great dissension among economists and public policy experts over the use of the first $350 billion from the Troubled Asset Relief Program last fall after numerous false starts and even after the Treasury Dept. settled on its primary TARP strategy: pumping money into a handful of financial service companies in hopes of preventing a repeat of the failure of Lehman Brothers.

With the success of that initial effort still in doubt, how the second tranche of the financial rescue funds should be applied (once the Obama Administration is in place) will be no less contentious.