The TARP Bailout Parade: Is California Next?

Conn Carroll / May 21, 2009

During yesterday’s Senate Banking committee TARP oversight hearing, Sen. Jim DeMint (R-SC) asked Treasury Secretary Tim Geithner:

So it’s your understanding that you have $700 billion to use permanently as you see fit?

Secretary Geithner replied:

I’m not quite sure ‘permanently’ is right.

So then what is the right word? Does the Obama administration recognize any end or limit to what they can do with their $700 billion TARP slush fund? As the Los Angeles Times reports, California appears next in line for the bailout parade: (more…)