Merrill Pays $15 Billion in Compensation After Taking $10 Billion in TARP Funds
Bob O’Brien
Sanity Check via Wayback, 23 January 2009
After all, the logic, or rather the gun to the head of the taxpayer by Hank Paulson, was that the economy would vaporize if we didn’t take taxpayer money and give it to Wall Street banks and insurance companies, to, er, lend, or to relieve them of the burden of having to carry the toxic paper they created on their books any longer.
At the time, I said that was clearly a lie, and all this would be is a redistribution from the Treasury, to the Wall Street buddies of Paulson’s who got us into the mess in the first place.
