Begging for Bailout Cash, U.S Cities Told to Go Fish: Joe Mysak: "You can't blame U.S. cities for eyeing the federal government's open vault and asking for a bailout, too. Atlanta, Detroit, Philadelphia and Phoenix have all asked in recent days for some of the Troubled Asset Relief Program billions. You can expect more to ask."
------------------
And I don't think they will be getting it. But we shall see.
1 comment:
It's becoming increasingly clear TARP's creation two months ago was really a confidence building measure and was never expected to purchase nonperforming mortgage-backed securities. Hence, it's no surprise the Treasury secretary said it would no longer be used for that purpose once he concluded TARP's creation achieved its goal of preventing a global market panic.
Everyone thinks TARP is now a general purpose bailout fund and various private and public sector entities are putting out their hands. They can forget about that. The automakers didn't get relief today and no one else will either. Time to get back to work and live within our means if we want to get the economy back on track.
Post a Comment