The Treasury Department has created a bit of a conundrum for libertarians when it comes to TARP II. On the one hand, the government is finally reaching out to the private sector through this initiative, recognizing the power of markets and price discovery as means to end the economic crisis. But on the other hand, the taxpayers are still taking up to 93 percent of the risk in this new venture. So while TARP II creates a market for buying and selling toxic assets, writes Anthony Randazzo, it’s an unnecessarily subsidized one.
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