The Troubled Asset Relief Program (TARP), created to manage the federal government’s bailout of Wall Street, is supposed to conclude this October, but issues stemming from the unprecedented rescue operation are likely to linger long past that. In addition to holding hundreds of billions of dollars in private assets into at least the near future, the administration has not begun to address what to do about the “implicit guarantee” that the bailout created: the notion that no matter how big a mess Wall Street creates, the government—and taxpayers—will never let it down out of fear of allowing banks “too big too fail” to just collapse.