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Showing posts from November 7, 2010

NO, TARP was an awful idea and not a success.

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TARP WORKED!!!  Thank the lord.  Some of the headlines do a good job of capturing the level of ignorance that persists in the world of punditry. " TARP: A success none dare mention " one writes while " TARP's Success Proves Washington's Talent " writes another  Oh brother, TARP is continuing to bamboozle people to this day, perhaps we can clear it up once and for all.  By continuing to promote these falsities the writers are also promoting the savior Big Government and instilling within the American populace an idea that any crisis regardless of size can be defeated by the wisdom of our politicians.  These propagandists fail on both accounts, first out of common sense and second for economic reasons. First reason - the common sense. Just because *some* banks have been paying TARP back with interest never made it a good idea.  My analogy is the following:  Imagine if Congress offered each unemployed American an opportunity to play for 1 million dollars th