Stanford's John Taylor on TARP
Stanford economist John B. Taylor writes:
the TARP established an unfortunate precedent of heavy-handed government intervention in the operations of businesses. The government forced some financial institutions to take TARP funds, even those that said they did not want them, by threatening actions from regulators. The government used the TARP for purposes other than originally stated in Congressional hearings, including the bailing out of automobile companies.
Link via Economic Policies for the 21st Century.
by Editor | Mar 18, 2011 at 10:27 am
Related Topics: Auto Industry, Banking, Capital Markets Regulation, Education, Henry Paulson, Timothy Geithner
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