The article also mentions the Bad Asset Repository Fund, lovingly called BARF by critics, essentially a separate bank to divert bad assets from bank balance sheets. Fascinating.
Sunday, February 8, 2009
From TARP to BARF
Newly inducted Treasury Secretary Timothy Geithner has the very tough job of revamping the Trouble Asset Relief Program (TARP). Geithner and Obama announced plans to limit executive pay to $500,000/year to companies receiving "exceptional assistance"- hooray for that, but I wish I knew what "exceptional assistance" actually entailed.
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