$3 billion US taxpayer dollars transferred to unemployed homeowners, $2 billion taken from TARP

• 8/11, "Obama administration to provide $3 billion in housing aid," CNBC from AP

"The Treasury Department says it will send $2 billion to 17 states that have unemployment rates higher than the national average for a year. They will use the money for programs to aid unemployed homeowners. Some of those states have already designed such programs.

• Another $1 billion will go to a new program being run by the Department of Housing and Urban Development. It will provide homeowners with emergency zero-interest rate loans of up to $50,000 for up to two years.
  

The Treasury are using money from the $700 billion Wall Street bailout to pay" the $2 billion portion."...

• MORAL of the STORY: If you borrow too much and live better than you can afford, great. If you don't borrow too much, exercise discipline and restraint, you're a chump. John Batchelor (paraphrasing)