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(Image from article: "TARP Oversight Panel Finds Fault With GMAC Bailouts")

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TARP Oversight Panel Finds Fault With GMAC Bailouts

A report to be released Thursday questions the Bush administration’s decision to rescue “a company that apparently posed no systemic risk to the financial system.”

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Despite TARP Repayments, Banks Are Still Sustained By Government Money

Despite the massive repayments of TARP money coming from our biggest banks, the financial system is still very much dependent on the rescue operations of the government.

Perhaps the best illustration of this is the massive balance sheet of the Federal Reserve, which has inflated by purchases of $1.058 Trillion of mortgage backed securities.

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