Bank Share Collapse Points to the Failure of TARP

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By John Tamny  RealClearMarkets

When Treasury Secretary Henry Paulson announced last month that he would use TARP funds to directly buy shares of banking firms, many on the left and right rejoiced. With an alleged run on the banks in progress, federal dollars borrowed from a private sector already short on risk capital would supposedly lead to a revivification of the banking system.

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