“The Administration’s action must not open the door for even greater federal involvement in – and taxpayer support of – our financial system, and it is critical that we have a better grasp of the program’s true cost before moving forward. It is imperative that this plan becomes the first step toward an exit strategy that gets the federal government back out of the private sector. To date, federal officials have failed to detail any such exit strategy. However, Secretary Geithner is to be commended for finally including some of the taxpayer protections that House Republicans have fought for from the outset of the TARP program. Setting strict executive compensation limits for institutions accepting taxpayer dollars is an important step toward better disclosure and more accountability in a program that has failed to meet expectations.” NOTE: Boehner and other House Republicans wrote to Secretary Geithner last month, inquiring about the Obama Administration’s “exit strategy” from the Troubled Assets Relief Program (TARP). House Republicans wrote to former Treasury Secretary Paulson and Federal Reserve Board Chairman Ben Bernanke with similar questions late last year as well.
Share this story

About the Author
Members of the National Review Online editorial and operational teams are included under the umbrella “NR Staff.”
Advertisement
Advertisement





Comments