I supported TARP at the time, because I didn’t want to see a depression era collapse of the banking system, and the financial sector at large.
After having watched how the funds were used, I believe you were right. I am not buying into the MSNBC anything, and I think you should acknowledge that if the banking and financial sector had collapsed, we wouldn’t like that either.
I spent over eight years having folks tell me that Bush was the savior of the human race. I didn’t agree, but I at least expected him to be truthful, as he saw it.
He wasn’t. He flat ass lied about the need to pump money into the banking system “TODAY” or else. Hardly any of those funds were pumped in quickly, and the model had been set, the government was going to assume massive amounts of debt to save us.
I hadn’t realized how that spending would go viral, more massive additional debt added without so much as an objection.
I had also not realized how the government would use those funds to take ownership interest in the public sector entities.
Fascism wasn’t Obama’s brain-child. It actually started under our own village idiot.
I was wrong, but then I didn’t have all the information Bush did, and I trusted the man when I should have known better.
At least I’m willing to admit it.
No, we would have hated it. The mistakes of the past could not be undone even though politicians will always lie and tell us they can be, just to get power. McCain and Obama would fix it all with tax cuts, although not the same idea of tax cuts. But same idea, all candy. The bailouts resulted in a few even bigger banks as they bought up smaller banks with TARP money (why would this not happen?) . Too big to fail became even bigger.
Bailouts are like economic Keynesian stimuluses, they just delay the pain and the healing...in fact the current state proves it, we are in an endless recession as far as jobs go.
SS reform in the 1980s solved nothing, it just moved the problem until after the deaths of those that passed it. But the time when the pain can no longer be delayed is coming much sooner than ever before. The elected and the MSM are all about NOW, but they call it investments.