TARP cost about 20 billion dollars and was partly responsible for preventing the collapse of the majority of the western world’s commercial banks. It would have been a nightmare for everyone.
The Fed’s liquidity loans probably accomplished more, but they were done behind the scenes. TARP allayed everyone’s fears...it was probably the greatest ROI in economic history.
Bush was right to do it, and Romney and Gingrich were right to support it.
You are correct.
The problem with TARP was not that it occurred, but that it was necessary. It should never have become necessary, but once the financing was needed, there was no choice but to do it.
TARP was wrong not because of the cost (more than 20 billion) but because it is the TBTF mentality of our banks because of our socialist banking system (central banking) has created.
Banks that have made mistakes need to fail. Recovering from those failures would have been far easier than recovering from the debt that has been added on with QE1 and QE2 and, yes QE3, because “operation twist” was nothing more than a deceptive means of pushing another round of QE into the markets again.
None of it can succeed. And the pretend fix is adding to the suffering we will be forced to endure when the system collapses.
Robamney is just another George W./Obammie the Commie big-government globalist who is in the pocket of the world central banks. None of them give a damn about American sovereignty and about truly fixing our economy and safeguarding our prosperity and liberty, which REQUIRES dismantling our central bank (the Federal Reserve) and returning to sound monetary policy.