TARP, Capital Purchase Program…Making It Up As They Go Along?

"There was an eruption across news networks and websites earlier this week as Henry Paulson announced that the Federal bailout package, dubbed the TARP (Troubled Asset Relief Program) would no longer function as a program to purchase troubled assets. Sparing no time to allow the irony of this to sink in, Paulson proceeded to outline what many of us have been suspecting all along. The first portion of the bailout money, approximately $260 billion, has been set aside to purchase stock in banks.This has been fittingly dubbed the Capital Purchase Program (CPP)."