Short and sweet: TARP was a success. The $700 billion “bailout” kept the banks from failing, kept the markets from crashing worse and, most important, is only going to cost the taxpayers $50 billion, worst case scenario, and may even make money.
That’s the news anyway. Story here (click!)
Yup that is the horrible disaster our grandchildren were saddled with — a program that worked and won’t cost much. I can clearly see why the Tea Party poopheads hate it so. They even forced out Sen. Bob Bennett over it. They’d rather have seen markets collapse, banks fail, the entire nation’s retirement programs disappear, all to prove their point that unfettered markets are better.
Frankly, I’d rather they conduct their socio/political experiments with someone else’s money — or merely their own.
But they won’t. TARP’s success even ensured that the social programs that support many older Tea Party people — Social Security, Medicare, Railroad Retirement, Military Retirement, and on and on — will be able to take care of them even as they shout out to condemn socialized everything. My tax dollars will keep them healthy and in comfort even as they rage against me paying those tax dollars, but never quite seem ready to turn those same dollars down.
I bet they’ll even condemn Pres. G. W. Bush who — remember? — was the guy in office when TARP was approved. So, thanks to him, too, for having the wisdom or courage or desperation or whatever it was to sign the thing. TARP has shamelessly saddled our grandchildren with absolutely no debt at all and left us with relatively stable markets that are slowly staggering back, an economy that didn’t completely tank, and unemployment at 10 percent and damn lucky it isn’t worse, considering.
Now, let’s get back to cutting taxes, increasing military spending, firing government workers while fighting unemployment and balance that budget!
Oh, yeah, and kick out Obama because it’s all his fault!