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.
It would have been the shareholders and the customers that would have shouldered the burden. The ones running the banks would simply have reemerged after the bankruptcies and started again.
Have you ever had a commercial loan? If so, you would have noticed a clause that allows the lender to call the note in with 30 days notice....how many firms would have collapsed when the banks, desperate for funds, had done just that?
The QE's had nothing to do with TARP or the banks. FWIW, I agree with you about them. All they have done is inflate the stock markets.
Like it or not, TARP was the right thing to do.