From the bailout bill:
Section 101. Purchases of Troubled Assets.
“Authorizes the Secretary to establish a Troubled Asset Relief Program (“TARP”) to purchase troubled assets from financial institutions. Establishes an Office of Financial Stability within the Treasury Department to implement the TARP in consultation with the Board of Governors of the Federal Reserve System, the FDIC, the Comptroller of the Currency, the Director of the Office of Thrift Supervision and the Secretary of Housing and Urban Development. Requires the Treasury Secretary to establish guidelines and policies to carry out the purposes of this Act. Includes provisions to prevent unjust enrichment by participants of the program.”
Oh now that’s rich. How about applying that provision to the state itself?
(Thanks to Gardner Goldsmith for pointing this out.)9:51 am on September 29, 2008 Email Manuel Lora