Fed Eliminates Compensation Limits for TALF Program

tvsterling at 07:31 2009-03-04 said:

The oligarchs who really rule this country are really beginning to show themselves around the edges of the flag they are so fond of wrapping themselves with. These elites are going to take care of each other while the rest of us go over their cliff. Where are these executives going to take themselves off to if they don't like the government terms? All they did was pout & whine a bit a get it all their way. Permalink

bdc63 at 07:50 2009-03-04 said:

... and just when I thought our gubermint had gotten some backbone. but alas, they're just jellyfish as we suspected all along.

So let me see if I've got this right -- congress (or rather their constituents) was so furious about how the initial TARP funds were distributed that they added the compensation clause to the second half of the TARP release.

About 15% of the Treasury's TARP money is going to be used to "seed" the TALF at the FED, but somehow Timmy and Ben have decided that they don't need to obide by Congress's legislation, and rather then be upfront about it, they disclose it in the FAQ section on page 15.

Nice. Permalink

Lisa11 at 18:08 2009-03-04 said:

These elites are going to take care of each other while the rest of us go over their cliff. Where are these executives going to take themselves off to if they don't like the government terms?

Lisa11 Permalink