Thune Defends TARP
The Hill reports:
Sen. John Thune (R-S.D.), a potential presidential candidate, this weekend defended his vote for the 2008 Troubled Asset Relief Program (TARP), which Tea Party activists vehemetly oppose.
Thune, who is also a member of the GOP leadership, said that the program deviated from its original intention but said that it was the right vote to make at the time.
"I have probably been one of the fiercest critics and probably biggest advocates of ending TARP since it was enacted because of how it was used," he said on C-SPAN's Newsmakers program that aired Sunday.
Thune said that he disagreed with the government's decision to buy equity shares in large failed companies, instead of purchasing targeted toxic assets.
"It was wrong philosophically. I hope we get our money back," he said. "How it was used and, in my view, misused is what I've taken issue with."
Click here to read more.
