As the Troubled Asset Relief Program begins what was supposed to be its final victory lap, there are several proposals of how to use the remaining and gradually repaid federal funds. While TARP is scheduled to end on Dec. 31st everyone suddenly has a new use for the once reviled bailout fund, from a new job-creation program to paying down the national debt. Meanwhile serious questions remain about how TARP was used by the financial firm recipients, from the lack of commercial lending to bonuses for executives. The TARP Cop, chair of the Congressional Oversight Panel, joins Patt to lay out the next steps for the program that everyone loves to hate.
Elizabeth Warren, Chair of the Congressional Oversight Panel; Leo Gottlieb Professor of Law at Harvard University