Actually the government made money off of TARP. I’d say that would make Ryan a genius. Save the economy and make money form the banks by doing it. Win Win.
In fact I’d agree with him.. it’s pretty boneheaded to go back now and say TARP was a bad idea. It may not have been a principled conservative position. But if the banks all failed then of course we would of had our 2nd great depression. In fact TARP was the only government program of all the money spending that actually did what it was suppose to do. The rest of it went down the drain but TARP was genius.
Fundamentally there's no problem in letting a bank fail when you have depositors insurance ~ unless your government has a debt problem.
Still, only the really rich who keep more than $250,000 on deposit in a bank will lose their shirts ~ and so will the illegal aliens. FDIC only insures citizens!
Interesting that the bank the federales chose to defend at all costs was Bank of America ~ a California creation that's metastisized across the country and now holds almost everybody's credit card debt and a vast number of nonperforming mortgages.
That wouldn't have happened if banks had been allowed to fail on their own. Bet you could get a loan easier today though.