How the GOP Became the Party of the Rich

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2008: The No-Strings TARP Bailout Hands Cash to Banks

Under the 2008 Troubled Asset Relief Program, overseen by Treasury secretary and former Goldman, Sachs CEO Hank Paulson, taxpayers were forced to give banks $254 billion for assets worth just $176 billion – a handout of $78 billion to the financial sector, including $2.5 billion for Paulson's cronies at Goldman. "Paulson pushed the money into the hands of the banks – no strings attached, no accountability, no transparency," Elizabeth Warren, then-chair of the Congressional Oversight Panel, told Rolling Stone last year.

How the GOP Became the Party of the Rich

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