Mar 31, 2011 at 8:51 PM
PHOTOS: Bomb Drops On Gadhafi's Residence
Mahmud Turkia / AFP - Getty Images
A bomb drops on a tightly-guarded residence of leader Moammar Gadhafi and military targets in the suburb of Tajura on Tuesday, March 29. NATO-led coalition aircraft had been seen in the skies over the capital that afternoon.
More photos inside.
Wal-Mart CEO: "Serious Inflation In The Months Ahead"
"We're seeing cost increases starting to come through at a pretty rapid rate."
RAW VIDEO: Belgian F-16 Destroying Libyan Bomber
Belgian F-16 destroying Libyan bomber at its base - uploaded today.
Congressional Video: "What Can The American People Expect From TARP Moving Forward?"
Video - House Oversight - March 30, 2011
The Geithner spin as delivered by Tim Massad.
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Criticism of TARP ‘Moral Hazard’ Unfair, Massad Says
Criticism that “moral hazard” is the main legacy of U.S. taxpayer-funded bailouts is unfair, a Treasury Department official said.
“We recognize that moral hazard is a real and significant concern” in the Troubled Asset Relief Program, Timothy Massad, acting assistant secretary for financial stability, said in a hearing before a House Oversight Committee panel today. “But to suggest that it is TARP’s main legacy is to ignore the facts, and to confuse the response to a crisis with the need to address the causes of the crisis.”
Massad was responding to criticism from Neil Barofsky, special inspector general for TARP. Barofsky told the House panel’s TARP subcommittee today that the program’s “most significant legacy may be the exacerbation of the problems posed by ‘too big to fail,’ particularly given the manner in which Treasury executed the bailout.”
TARP largely spared “executives, shareholders, creditors and counter parties, reinforcing that not only would the government bail out the largest institutions, but would do so in a manner that would do little harm to the responsible stakeholders,” Barofsky said.
Issa: TARP's Failures Protect Too Big To Fail Banks
From yesterday's TARP Congressional hearing with Neil Barofsky.