Dems To Use TARP Money as Slush Fund

Unsurprisingly, Democrats are now looking at raiding the repaid TARP funds to be used for their various spending initiatives. After failing to pass the Financial Profit Prevention bill because of a last-minute $18 billion tax hike, Chris Dodd says he plans to raid TARP instead.

Of course, his language is that they will "save money" by ending TARP early. This is absurd, as the TARP funds were only a temporary backstop for banks and the government made a very nice profit on those temporary backstops. (The auto union bailouts is another matter, of course.) Now instead of the money going back to the taxpayers, it will be used as a Democrat slush fund.