Reply #4: He's working to correct it, according to this...

[babylonsister]

Obama Works to Overhaul TARP
Team Tries to Meld Some Paulson Ideas With Aid to Borrowers Facing Foreclosure

By DEBORAH SOLOMON


WASHINGTON -- The incoming Obama administration is considering a series of initiatives to combat the financial crisis, including some efforts to help banks that the Bush administration has tried with limited success.

Among the plans being discussed are injecting more capital into banks, creating a market for illiquid assets clogging the books of financial institutions and helping borrowers who are having trouble making their mortgage payments.

On Tuesday, members of President-elect Barack Obama's economic team briefed Mr. Obama on ways to address the financial crisis and also on plans for an economic-stimulus package.

While Treasury Secretary Henry Paulson has seized on equity investments in banks as Treasury's primary mechanism to help resolve the financial crisis, the Obama team is developing a broader approach that would likely incorporate multiple remedies.

more...

http://online.wsj.com/article/SB122947278692012293.html