The TARP Deal Is Not Done - Larry Kudlow

[Traveling_Home]

Media reports and Wall Street investors are now assuming the Treasury will put up $15 billion in TARP money to keep the Detroit carmakers out of bankruptcy. But my sources tell me that the TARP deal is not done — not by a long shot.

<snip>

Senate sources tell me that any TARP-money allocation might include the very same conditions proposed by Tennessee Sen. Bob Corker in legislation that broke down in a marathon session in the Senate list night.

So folks shouldn’t count their TARP eggs before they're hatched. And nothing is expected to be announced today.


http://kudlowsmoneypolitics.blogspot.com/2008/12/tarp-deal-is-not-done.html

[Vincardog]

1. are they going to attach those same conditions to the finance companies' money?

[RUMMYisFROSTED]

2. Kudlow?

I don't believe the words have been invented to describe that.

Somewhere between belly chuckle and raving delerium.

[Kalyke]

3. Maybe someone can introduce Porker to the treads on the wheels

of an Expedition.

:think:

[lapfog_1]

4. I believe that the "Senate sources" are wrong about this.

Out of the first "tranche" that was allowed to be distributed, there is about $15 B which has not been distributed. There are basically NO congressional approval and minimal oversight (oversight that isn't even on it's feet yet). Paulson could direct that $14B of this go to GM / Chrysler without any further action by Congress (after all, all of the rest of that first half was distributed without any further action by Congress).

Is that wrong? If so, I haven't seen it in any MSM report or trusted blog.