Is TARP Criminal?

Discussion in 'Economy' started by Annie, Apr 26, 2009.

  1. Annie
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    Annie Diamond Member

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    TARP Looking More Criminal by the Minute by Donald Luskin on NRO Financial

    This goes on and on and seems to have legs by what I've read before.
     
  2. mash107
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    mash107 Active Member

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    It would be criminal if it worked 100% as intended.

    Putting poor people out of work by taking $800B+++ out of the economy to bailout failing companies is a type of fascism and is horribly criminal.
     
  3. editec
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    editec Mr. Forgot-it-All

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    FYI...the current accounting of the TARP funds

    Bailout Recipients | Eye on the Bailout

    I TRY to imagine what would happen if these banks had not gotten these funds.

    Sadly, I am simply not well informed enough (is anyone, really?) to know what might have happened.

    Perhaps our Libertarian chums are correct and perhaps it would have been a GOOD think to let the FDIC pick up tyhe total cost of most of the deposits in most of the banks in American if these giants had gone down.

    I mean I have trouble imagining how that completel meltdown would have been better in the long run, but then too perhaps they're right and that would have been simply a grand old time when none of us would have had access to the money in our banks.
     
    Last edited: Apr 26, 2009
  4. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    Corruption is not surprising when it comes to TARP, because corruption begets corruption. It was corrupt for our legislators to ignore the fact that they do not have the power under the Constitution to bail out failed businesses or banks.
     
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  5. midcan5
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    midcan5 liberal / progressive

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    There is always going to a bit of corruption when large amounts of money are passed around and businesses see easy street in a surprise package. The key is to minimize the corruption. And the critical question here is was Tarp doing what it is supposed to be doing. Every economist agrees we need to spend money, the disagreement is often only over what and where. We surely do not need another great depression.
     
  6. Toro
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    Toro Diamond Member

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    The wisdom of Donald Luskin. From an article dated, January 18 2008.

    Panic Is Driving Today's Stock Market at SmartMoney.com

    Just sayin'...
     
  7. Kevin_Kennedy
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    Kevin_Kennedy Defend Liberty

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    No, not every economist agrees that we need to spend money.

    Ludwig von Mises Institute - Homepage
     
  8. driveby
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    driveby Gold Member

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    When are you moon bats gonna stop lying with the "every economist agrees" crap ........
     
  9. Annie
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    Annie Diamond Member

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    Not that I care, but I don't think one person here has addressed the authoritative source cited.
     
  10. RodISHI
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    RodISHI Gold Member

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    I think he is a liar. They took the TARP money and bullied their way into owning Wachovia. I know when the took over First Security they sucked money out of peoples accounts like crazy. My parents were nailed for ten grand.

    As Norwest aka Well Fargo made their transition they did the same thing. By not sending out regular statements they made off with a small fortune of other peoples money. Including tax payer dollars. RK came from CITI. Plus many of the CEO's and/or their families own or control little side banks.

    Was TARP criminal. I'm sure it was.
     

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