NPR interviewed WSJ economics editor David Wessel this morning about the 2nd round of the TARP and the 2nd round bailout of Bank of America. Wessel told listeners that the problems of the banks are greater than was conceived back in September when the TARP legislation was first proposed.
Actually, the problems are only bigger than was conceived by people who did not understand the situation. It would be helpful to listeners if NPR did not rely exclusively on such people as experts in its reports.
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