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News From Washington for April 1, 2009


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In today's economic environment, it is apparent that soon, the Treasury Department will run out of TARP funds. As a supplement to TARP, the Committee is introducing HR 4109, the Corporate Recovery of Assets Program, or CRAP. CRAP is not the same old stuff; this is a strong, bi-partisan CRAP. It is intended that CRAP flow from Washington to all tax payers. We think that once this gets started that corporations can't wait to be full of CRAP. Many state governors will be reluctant to take CRAP from Washington. We understand if you do not want to take any CRAP, we will not give you any CRAP. Once the economy is flush again, we will be taking the CRAP back. To our critics, we do not believe for a minute that CRAP stinks. While we aren't sure whether CRAP will unblock the economy or how much it will eventually cost, we are certain we can work it out with a pencil.

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