Today Treasury Secretary Tim Geithner will announce how the second half of the $700 billion Congress approved to bailout troubled banks will be spent. The Bush Administration's implementation of the so-called “Troubled Asset Relief Program,” or TARP, got plenty of criticism. Will Obama and his crew do better? Lizzie O'Leary, Washington-based reporter for Bloomberg News, and Tom McCool, Director of the Center for Economics at the Government Accountability Office, join Todd and Katherine to look at how TARP may be different the second time around.
"What they want to do is essentially provide a government guarantee against loss, but an incentive for private investors to do well on the upside if these assets turn around and start performing."
— Bloomberg reporter Lizzie O'Leary on the use of TARP funds