Why Did TARP Change Course?
November 29, 2008 at 17:56 PM EST
The twists and turns of TARP have confused and dismayed. From financing “bad” assets to direct capital injections to the myriad applications of its vast resources, TARP is now hardly recognizable from its original incarnation. The question is: Why? Why was the acquisition of troubled assets abandoned? Why was an open checkbook given to banks [...]