Curb and Phase Out Taxpayer-Funded Corporate Bailouts

Full Document Available in PDF

Many Republicans and Democrats voted against the $700-billion Troubled Asset Relief Program (TARP), rejecting it as corporate welfare for reckless Wall Street firms. Little has been done to assuage these concerns, as the thrust of the program suddenly shifted from buying “toxic” mortgage securities no one would touch to buying ownership stakes in order to provide a “capital cushion” to relatively healthy financial institutions—and even to propping up automakers.