Treasury Secretary Hank Paulson announced a major shift today in the Troubled Asset Release Program (TARP!) — or, as the kids call it, “n00bama bailout $ocialism” — and we do not necessarily know to what the shift is. We know from what Hanky is shifting away, though, and that is the plan to buy toxic mortgage-related assets from financial institutions so as to loosen credit and save America. You may recall this instrument Hank is now abandoning: it was the whole point of the bailout, the thing Hank and his chum Ben Bernanke DEMANDED Congress pass within 20 minutes or the child would die. MORE »