And yet that bail out fund is now going to be tapped to bail out unions, I mean auto companies... It does NOT matter what the claim was for TARP they got their grubby hands on 700 billion dollars and power to guide and control economy. For whatever reason this bunch as already changed their minds in how they will USE the money.
Now come on campaign 2010 and 1012 are already in the works and LIBERALS are the top of the intellectual charts in getting 'government' dollars to fund their campaigns.
When politicians get a hold of a pot of money, they'll find ways to use it for the unintended purposes. That doesn't mean that the money was not needed for what was intended in the first place. Congress can just as easily "create" / spend "new money" for UAW bailout by voting to spend any amount, whether TARP was there to take it from or not - they just use TARP because it's easy to use class warfare and tell people that they are taking it from "fat cat Wall Street bailout fund" to help save American hard-working union jobs... would not be the first time Democrats misrepresent or misname something?
BTW, Bush Says Auto Bailout Is Not Ready
He had been asked when he might make an anticipated announcement about tapping a $700 billion financial industry bailout fund to aid General Motors , Ford Motor and Chrysler LLC.
Asked whether he was leaning toward using financial bailout funds, Bush said: "I signaled that that's a possibility."
In any case, I don't see how any of this would apply to "investors" in Madoff or any of these funds, in any way, shape or form. They are not part of banking system that is regulated by or has to borrow from Fed to make consumer or commercial loans.