Here we are seven weeks after passing this economic rescue package and we are still faced with confusion and uncertainty surrounding its implementation. Most disturbing are reports that financial firms are expending TARP funds on increased bonuses to employees, higher dividends to shareholders, lavish conferences, and corporate acquisitions that serve not to save struggling institutions, but rather to increase profits at healthy ones. Such uses of taxpayer money do nothing to help restore liquidity to financial markets and are not in the best interests of taxpayers. They are unacceptable, and Treasury must not allow them to occur.

This entry was posted on Monday, November 24th, 2008 at 9:15 am and is filed under Uncategorized .