SIGTARP

[unixronin]

I'm not sure what SIGTARP should signify in computer terms.  But it would probably be something bad.  Probably related to SIGFAIL.

In this case, though, SIGTARP refers to the Inspector General of the Troubled Asset Relief Program, who has just released the latest official SIGTARP quarterly report.  I'll refer you to cipherpunk for a direct link to the report, in PDF format, and the executive summary on page 6 of the report (not least because if you're not already reading cipherpunk's journal, you probably should be).  But the capsule summary is that, just as many of us predicted, not only did TARP not really fix anything — in fact, the report states that TARP has not achieved any of its stated aims — but in fact it made matters worse.

"We're from the government, and we're here to help."

Comments

[lebo-superman.livejournal.com]

I agree with smandal and skellington on this one. The best long-term answer to the problem would have been to let them fail.

[unixronin.livejournal.com]

I concur. No private venture is "too big to be allowed to fail". To bail them out, especially for a catastrophic fuckup of this magnitude, only rewards failure, turns it into a success on paper, and encourages them to take even more insane risks (mostly with other people's money, let's not forget) the next time around.