A Window into Wall Street's TARP Psyche

You may not have noticed yesterday, but we're guessing you realized today that while inauguration festivities were in full swing, Wall Street was in a full slide. What's up? Is it just that Wall Street is anxious to see the new Obama team's plan in action for the remaining TARP funds? Or is there a different angst?

Here's why you care: We have been keenly listening to the different perspectives on TARP here in Washington, DC. There are lots of competing policy concerns - all of which are worth listening to. So, when we found BusinessWeek's Ben Steverman's article on TARP, outlining Wall Street's worries, we thought it was worth your time. We are not saying we support, or don't support, the points made in the reporting - what we're saying is that this is accurate as to what is going through many investors minds on Wall Street. And, we think trying to understand all parties is good when the outcome of the debate impacts all of our 401ks, home values, and jobs. So read Ben Steverman's reporting as some good food for thought in understanding how Wall Street thinks.

We note that given today's Senate Finance Committee hearing on Timothy Geithner's nomination to be Treasury Secretary these issues will continue to be debated. So, it is good to get a grounding on where all the players are coming from.