The Inimitable Tiff

It’s almost become akin to shooting fish in a barrel: find a TARP recipient — there’s over 400 of them now according to the latest report from Treasury — and then troll through their recent SEC filings to see how at least some of that money was spent on enriching an executive (or two).

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Now I know that banks say that the TARP money is separate. And to be fair, while the disclosure was recent, the money appears to have been handed out several months before the bank took TARP funds. But in the end, money is inherently fungible and at the very least, it doesn’t look good to be handing out money with one hand and taking taxpayer help with the other.