Open Left

Have not used it well (4.00 / 3)

The banks and insurance companies have not, for the most part, used the first $350 billion well.  We have not seen the promised easing on mortgage foreclosures or re-opening of easier credit for consumers and small businesses.

I opposed the TARP in the first place.  When I saw the way that the Republicans and their Wall Street Allies jumped all over the wage earners and retirees of the unionized auto industry I saw red (in both senses of the word).  

And I wasn't happy about the government sponsored and funded mergers eating up some of this money.

As for AIG, somebody, probably lots of people let this get out of control.  I don't want another politically favored institution of dubious importance scooping up a huge share of the next $350 billion.

How dare the feds do this and go after Social Security.  How dare they fund this crap after the bankruptcy bill put their credit cards at the top of the list ahead of mortgages.

As for the Cato guy, Republicans who let the horse out of the barn always sound good on cleaning up the mess they made.  Republicans gorged on earmarks and Democrats cut back so who gets the blame?  Democrats?  Republican tax cuts and tax eliminations for the wealthiest and corporations drain the treasury bare and now more to corporations and their incredible bonuses and even more corporate tax cuts are proposed.  Gore's lock box that the media derided him for looks an awful lot smarter now than in 2000.  And that's why we need to put things in writing.

---

by: David Kowalski @ Mon Jan 12, 2009 at 17:17:50 PM CST