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Published: January 24, 2009
Rising displeasure with the Troubled Assets Relief Program was apparent this week when the U.S. House voted 270 to 155 not to spend the second round of TARP money, even though representatives knew the vote was symbolic and wouldn't stop the $350 billion from being spent.
Their token protest acknowledged that voters back home either want to see some results or want some relief for themselves.
The public mood was captured well by Bill Zucker of Miami, who wrote, sang and recorded a song that repeats a simple theme: "I want some TARP!"
He sent it to CNBC, which aired it. The funny song is being widely viewed on the Internet. You can see it at www.youtube.com/watch?v=yGfQk9XXm24.
It's a parody in the grand tradition of Woody Guthrie, who was a guitar-strumming critic of the political response to the Great Depression.
Zucker sings, "I lost my job. They took my home. I'm down on my knees. But I heard about this place where money grows on trees."
So he asks for money for a new car and insurance from AIG. It's not such an unreasonable request, considering the long line forming in expectation of stimulus money from Congress. In the fourth quarter, General Motors spent $3.3 million lobbying, Ford spent $1.9 million, and AIG spent $1.08 million. They're basically singing the same tune as Zucker: I want some TARP.
Why not ask? As Zucker observes, "They're giving money away for free."
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