Could it be that intervention is about to beget intervention?
“In light of the fact that the American taxpayer has been asked to fund this extraordinary effort to stabilise the financial system, it is not unreasonable that the public be told how those funds have been used by Tarp recipients,” says the quarterly report from Neil Barofsky, the Tarp special inspector-general.
Treasury officials have questioned the value of demanding detailed explanations for use of funds, given that they are designed to improve the broad health of banks’ balance sheets and thus stimulate lending.
via FT.com / US & Canada – Geithner admits ‘mixed’ bail-out results.
