GREAT MOMENTS IN COMEDY: THE GREAT TARP TRAINWRECK

[defrog]

Believe it or not, I do try not to post every brilliant thing The Daily Show does, but I do recommend this Jon Stewart interview with Elizabeth Warren, chair of the Congressional Oversight Panel in charge of Bush’s Troubled Assets Relief Program (TARP), in which she basically explains no one knows where yr money went, but they know enough to know that taxpayers have already gotten ripped off by it.

The two-part interview is here, but I’m embedding the second half here, because Warren explains the situation in two minutes far more clearly than any other talking head I’ve ever seen on any of the proper news channels: New-Deal style regulation of the market works. Deregulation leads to nasty boom/bust cycles like this one. And by autumn, the govt will have to decide which way it wants to go.

Of course, I know dick about economics, so don’t take my word for it. But it’s the first thing I’ve heard about TARP that makes even the slightest bit of sense to me. Too bad it fills my heart with doom – not least because I'm finding all this out from a comedy channel and not CNBC.

Free hand my ass,

This is dF

Comments

In ur treasury givin away ur monies.

[lorilori.livejournal.com]