Wednesday, April 08, 2009

Get Your TARP Before it is Too Late

Last one in is a rotten egg.
I moved to Florida just before the run of monster hurricanes. I had to look on as shortage of tarps caused additional hardship. People with leaking roofs couldn't get tarps, so when it rained the water just poured through the roof causing additional damage.
Now I find myself wondering if there are enough TARPs (Troubled Asset Relief Program) to go around.
The Treasury Department has decided to extend bailout funds to a number of struggling life-insurance companies.
It appears that if you own a bank holding company or a savings and loan, you are qualified for a TARP.
Soon these insurance companies will be crying "pour mouth" because they aggressively sold variable rate annuities tied to the performance of the stock market.
Sooner or later, the Treasury is going to run out of TARP. Reminds me of the saying--"last one in is a rotten egg".
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