Why the TARP Failed

Ben Pershing at the Washington Post describes why

1. Poor salesmanship, political hardball
2. ""I stood up to my party and Wall Street," sounds much better" than "I gave your money to rich people because they told me to." Particularly if your seat is in danger, as it is to most Republicans.
3. The Bush administration is weak; McCain and Obama were not particularly supportive.
4. The Republicans were tired of being beaten with a stick by Pelosi.