Tarp gone wild

It seems like the new objective for the fed is to see how far housing can fall now that they have taken care of the banks. I think the banks now have very little incentive to not increase their rate of foreclosure and get the "toxic" assets off of their books. The objective of the tarp funds was to take these bad assets off the books of the banks so they could begin lending again and encourage a bottom in home prices. It seems like the fed no longer felt that the continued drop in home prices was more acceptable than a closing of banks. It is a complete reversal. The original reasons for the tarp were no longer even an option. Until housing bottoms, banks can't lend even if purchasers put 20% down.

And we have to pay premiums....

I guess when you get to collect premiums like clock work, you have lots of time to get creative with other things.

economy will be a challenge

Hello!!!!! the great speaker has lost his ability to orate without inserting and, um and ahs in between every other word. He is a robot, media creation, and he has no clue. He didn't have time to write and practice this speech over and over and he had to try and give some specific ideas that were of substance. I thought he looked like a deer in the headlights and he pulled one over on 52% of the country. He had an agenda to get elected that has been his entire agenda for years and actually creating and implementing public policy is foreign to him. Now the media will likely try and spin his being clueless and refer to it as being prudent. He seems like a very nice and bright young man but he definitely has no idea what is going on with the economy or what to do to get the country in the right direction. He sold "change" to the American people but he has yet to figure out he will do. The media gave him a free pass and it is showing now.