Tuesday, September 23, 2008
Seven Hundred Billion
Will TARP Cover the Economy
Or Merely Protect the Wealthy?
Remember NY's Budget Tsouris
The Sun, Imperiled, Needs Backers
The New York Sun has told the public that, in the absence of a capital infusion by additional supporters, it will cease publication at the end of September. The Sun has been an enormous gift to the civic and cultural communities during the six and one-half years it has been in existence.
These are hard times for newspapers in general, with readers and advertisers switching to electronic means of communication. I love to read the printed word, and particularly value the Sun for its intelligence and the variety of viewpoints it offers.
The Sun has been a valuable source of information about all three levels of government. It is not in anyone’s pocket. I hope the newspaper can be saved, and if any of our readers has the means to be helpful, please call Seth Lipsky at the Sun.
Will TARP keep us dry, or hang us out to dry?
The $700 billion bailout of America’s financial institutions is called TARP (Troubled Asset Relief Program) by its proponents, President Bush and Treasury Secretary Paulson (most recently chairman of Goldman Sachs). To its critics, it stands for (Total Abdication of Responsibility to the Public). Whether the acronym was intended or not, tarp is a short form of tarpaulin, which is a strong water-resistant covering, thrown over an object for protection from bad weather or other hazards. (BTW, the USA PATRIOT Act was a farther-fetched acronym: Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act. It was passed in October 2001, shortly after 9/11.)