Yglesias

Taking the “TA” Out of “TARP”

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CREDIT:

Paulson says the Troubled Assets Relief Program won’t actually be buying any troubled assets. On the policy merits, I think Paulson’s shift into recapitalization was the right idea. Or, rather, the people who I’ve chosen to trust as my analytic sources on this issue think so. But now I’m wondering if we don’t need to rename the program.