US May Expand The TARP Even More

It’s hard to believe the automakers won’t get a bailout, cause it looks like everyone else is. WSJ reports today that a range of companies, like GE Capital and CIT Group may be eligible to get TARP cash. At first they realised they couldn’t limit it to a narrow number of banks, since that would disadvantage the banks that weren’t in. And now they realise that by limiting it to banks, they’re disadvantaging various companies somehow engaged in finance.

Here’s the least shocking part of the story:

That proposal has yet to get up and running, stymied by operational delays and beset by criticism. People familiar with the matter say Treasury may scrap part of that early plan — purchasing assets through an auction process — and instead purchase some of these distressed assets directly.

Yeah, you could see that one coming for a while.

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