This Week’s Sign The Lunatics Are Running The Asylum

Have you seen this?

This is the application banks filled out to receive TARP funds.

The application is only two pages long. The first four pages are guidelines.

To receive billions of dollars in taxpayer money, banks had to answer just twenty simple questions. They were permitted to attach more info in response to one of those questions – but only if it took less than a page.

I think I answered twenty one questions to get the electronic toll pass on my windshield. And as Graydon Carter pointed out, if you wanted to open an account with Federal Express just to overnight the TARP application back to the Treasury Department, you’d need to fill out a three page, 74-question form.


About Cale Smith

Portfolio Manager at Islamorada Investment Management.
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