TARP: Slush fund

TARP, the Troubled Asset Relief Fund, has become a $700 billion slush fund. Originally authorized by Congress to buy troubled assets from banks, it has transitioned to a fund to supply capital to banks, then to a source of capital for AIG, GM and Chrysler. Now people propose using the leftover funds for more stimulus, a jobs creation program and financing the war in Afghanistan, among other ideas.

Enough already. Return the money to the Treasury, from whence it came.

All in half way

Obama seems to be a man who can't make up his mind. Our security is at stake, he says. What if we're not done with the Taliban and Al-Qaeda in 18 months? Do we bug out anyway?

And why address West Point cadets? They can't do anything. Why not talk to Congress?

Obama's speech

Al-Qaeda and the Taliban aren't the cause of the troubles in
Afghanistan and Pakistan, Obama seemed to be arguing tonight. The enemies are Americans: Republicans and the Bush administration.

Donna Shalala on healthcare reform

On tonight's NewsHour, Shalala argued that the uninsured ought to get free health insurance but didn't say who should pay. She also argued that insurance premiums for those who are insured are too high because they include the cost of treating the uninsured. It sounded like she was arguing for a double dip: new taxes to pay for the uninsured but no offset for the cost savings resulting from not having to provide free treatment for the uninsured.

The Superbower

Mark Steyn has coined a new title for Obama: The Superbower. How appropriate.

Military and mental health

The LAT reports today on the mental health of troops in the military, and editorializes about it too. It beats dealing with the Muslim massacre of troops at Fort Hood.

But David Ignatius makes sense of the issue in a column in today's Orange County Register.

Crazy military

A caption under a picture on the LAT's front page today suggests that Major Nidal Hasan went on a shooting spree at Ft. Hood because he, like many in the military, was crazy. Being Muslim had nothing to do with it.

A piece inside the newspaper by Shari Roan reinforces the page one suggestion.