Mitt: This in from a conservative Mormon Paper

[rdean]

Bennett was right to vote 'yes' on TARP - Salt Lake Tribune

support of TARP funding for banks as proof. But a clear understanding of this program reveals it was well designed and deserved bipartisan support.

Many people think that TARP was a giveaway, but that is not correct.

It has worked as planned and the government will actually earn a substantial profit. Most of the TARP money has been repaid and the Treasury has made a $10.5 billion profit to date.

the Treasury will earn an additional $7 billion profit. In the end, TARP will have helped avert another depression and the taxpayer will be richer.

The anger over TARP is mainly due to the mistaken impression that it was a giveaway to bankers, along with the issue of bankers' bonuses. The greed and arrogance of the bonus takers is reprehensible, but that is a separate issue needing a solution that does not involve dumping the cost of an economic collapse on the taxpayer.

--------------------------------------------

You mean, it WASN'T a give-a-way? Did someone lie? Who would be dirty enough to lie to the American people?

Oh, that reminds me. I heard they are doing better in Iraq. Got two al Qaeda leaders.

 

[Oddball]

The SL Tribune is as far left crank a publication as you will find out there, fool.

 

[Neubarth]

rdean, you are obviously not aware of how the banks have been making their money in the past two years. That money is a free give away from government. Sure the banks have repaid TARP, but they have done so with money that they raped from the American Citizens.

WE HAVE TO PAY FOR THEIR FINANCIAL GAIN.

Personally, I favor shooting all of the Big Bank leadership. They are all corrupt as hell and need to be placed before firing squads.

 

[xsited1]

This is yet another example of rdean's "Critical Thinking Skills" at work.

 

[rdean]

rdean, you are obviously not aware of how the banks have been making their money in the past two years. That money is a free give away from government. Sure the banks have repaid TARP, but they have done so with money that they raped from the American Citizens.

WE HAVE TO PAY FOR THEIR FINANCIAL GAIN.

Personally, I favor shooting all of the Big Bank leadership. They are all corrupt as hell and need to be placed before firing squads.

Free give-away they paid back. Ok, that makes sense.

 

[rdean]

This is yet another example of rdean's "Critical Thinking Skills" at work.

Thank you. I wish I could return the compliment.

 

[midcan5]

The SL Tribune is as far left crank a publication as you will find out there, fool.

Laughing and not answering the content or premise of the OP doesn't say much, but I guess it makes some people simple people happy.


"So here I come to thee
Against my will; and surely do I trow
Thou dost not wish to see me. Still ’tis true
That no man loves the messenger of ill." Antigone

 

[California Girl]

This is yet another example of rdean's "Critical Thinking Skills" at work.

Indeed, it is.

 

[editec]

TARP is misunderstood, without doubt.

It is supposed to be paid back, but some corporations (like AIG for example) are never going to be able to do that.

That will cost the US taxpayer and estimated $50 Billion, FYI.

GM says that it's not going to take any more TARP, incidently, according to something I heard on C-Span yesterday.

 

[RetiredGySgt]

Bennett was right to vote 'yes' on TARP - Salt Lake Tribune

support of TARP funding for banks as proof. But a clear understanding of this program reveals it was well designed and deserved bipartisan support.

Many people think that TARP was a giveaway, but that is not correct.

It has worked as planned and the government will actually earn a substantial profit. Most of the TARP money has been repaid and the Treasury has made a $10.5 billion profit to date.

the Treasury will earn an additional $7 billion profit. In the end, TARP will have helped avert another depression and the taxpayer will be richer.

The anger over TARP is mainly due to the mistaken impression that it was a giveaway to bankers, along with the issue of bankers' bonuses. The greed and arrogance of the bonus takers is reprehensible, but that is a separate issue needing a solution that does not involve dumping the cost of an economic collapse on the taxpayer.

--------------------------------------------

You mean, it WASN'T a give-a-way? Did someone lie? Who would be dirty enough to lie to the American people?

Oh, that reminds me. I heard they are doing better in Iraq. Got two al Qaeda leaders.

You are aware that TARP was supported by Bush and the Republicans? Just checking.

 

[Oddball]

The SL Tribune is as far left crank a publication as you will find out there, fool.

Laughing and not answering the content or premise of the OP doesn't say much, but I guess it makes some people simple people happy.


"So here I come to thee
Against my will; and surely do I trow
Thou dost not wish to see me. Still ’tis true
That no man loves the messenger of ill." Antigone

The content of the title of the thread was the presupposition that a mythical "conservative Mormon" newspaper in SLC supported bailout nation, when in fact the SL Tribune is as far falling-over-left-slouching as the N.Y. or L.A. Times.

But it's a good thing that you Fabian socialist goobers never ever stoop to such obvious and egregious errors, based upon nothing more than narrow minded and *ahem* uncritical thinking stereotype, right?

 

[Old Rocks]

Anything to the left of Goebbels is right wing to Dooodeeee.......

 

[Oddball]

Unlike you, halfwit, I've lived in the SLC/Provo area and actually have read that bird cage liner.

But hey, as long as it's a leftist kook who makes some idiotic statement, based upon nothing more than their own blindly bigoted stereotype, it's all good.

 

[elvis]

Anything to the left of Goebbels is right wing to Dooodeeee.......

anything to the right of stalin is like Goebbels to you, Monica.

 

[The Rabbi]

This is yet another example of rdean's "Critical Thinking Skills" at work.

There ought to be a law against posting "RDean" and "Critical thinking skills" in the same sentence.
For the children.

 

[Richard-H]

The problem with TARP is that it did not do what the American people, and the government expected it to do:

The expectation was that the TARP money would be used to prevent the banking crisis from destroying the rest of the economy...i.e. 'Main Street'. It was to be used so that credit to business would continue.

Instead the banks used it in any way that they wanted. They used it to shore up their own finances, but continued to screw main street.

The governement had trusted the banks and thought that the banks understood what the intention of TARP was.

Later when it became apparent that the banks were not using the the TARP money as intended, the governement grandfathered in some new rules. They helped, the banks whined, but they were not strong enough. Too little, too late.

TARP saved the banks - which did not deserve to be saved. It had a minor positive effect on 'Main St.', but not close the the effect that was intended.

In the end the government and the 'taxpayer' made out O.K., the banks were saved, but 'Main St.' remains screwed.

Ultimately, TARP should judged by answering one question:

What would have happened if the governement had not implemented TARP?

In my opinion, the entire economy would have collapsed and a long with it our entire soceity. There is no way that the capitalist system could have replaced the entire banking and finacial system fast enough to prevent a massive humanitarian disaster. Theonly option would have been for the government to step in and offer banking and financial services.

This would have meant socialized banking and finance.

 

[rdean]

The problem with TARP is that it did not do what the American people, and the government expected it to do:

The expectation was that the TARP money would be used to prevent the banking crisis from destroying the rest of the economy...i.e. 'Main Street'. It was to be used so that credit to business would continue.

Instead the banks used it in any way that they wanted. They used it to shore up their own finances, but continued to screw main street.

The governement had trusted the banks and thought that the banks understood what the intention of TARP was.

Later when it became apparent that the banks were not using the the TARP money as intended, the governement grandfathered in some new rules. They helped, the banks whined, but they were not strong enough. Too little, too late.

TARP saved the banks - which did not deserve to be saved. It had a minor positive effect on 'Main St.', but not close the the effect that was intended.

In the end the government and the 'taxpayer' made out O.K., the banks were saved, but 'Main St.' remains screwed.

Ultimately, TARP should judged by answering one question:

What would have happened if the governement had not implemented TARP?

In my opinion, the entire economy would have collapsed and a long with it our entire soceity. There is no way that the capitalist system could have replaced the entire banking and finacial system fast enough to prevent a massive humanitarian disaster. Theonly option would have been for the government to step in and offer banking and financial services.

This would have meant socialized banking and finance.

All of it can be traced back to the massive deregulation early in 2000.

Markets need regulation. Could you imagine if there we no regulations what Toyota would be like? Do you drive with no regulation? Could you imagine what kinds of houses would be built without regulation?

Republicans have actually bought into their own rhetoric. But if you can corner one, get it away from the "herd", they actually have common sense.

 

[RetiredGySgt]

The problem with TARP is that it did not do what the American people, and the government expected it to do:

The expectation was that the TARP money would be used to prevent the banking crisis from destroying the rest of the economy...i.e. 'Main Street'. It was to be used so that credit to business would continue.

Instead the banks used it in any way that they wanted. They used it to shore up their own finances, but continued to screw main street.

The governement had trusted the banks and thought that the banks understood what the intention of TARP was.

Later when it became apparent that the banks were not using the the TARP money as intended, the governement grandfathered in some new rules. They helped, the banks whined, but they were not strong enough. Too little, too late.

TARP saved the banks - which did not deserve to be saved. It had a minor positive effect on 'Main St.', but not close the the effect that was intended.

In the end the government and the 'taxpayer' made out O.K., the banks were saved, but 'Main St.' remains screwed.

Ultimately, TARP should judged by answering one question:

What would have happened if the governement had not implemented TARP?

In my opinion, the entire economy would have collapsed and a long with it our entire soceity. There is no way that the capitalist system could have replaced the entire banking and finacial system fast enough to prevent a massive humanitarian disaster. Theonly option would have been for the government to step in and offer banking and financial services.

This would have meant socialized banking and finance.

All of it can be traced back to the massive deregulation early in 2000.

Markets need regulation. Could you imagine if there we no regulations what Toyota would be like? Do you drive with no regulation? Could you imagine what kinds of houses would be built without regulation?

Republicans have actually bought into their own rhetoric. But if you can corner one, get it away from the "herd", they actually have common sense.

And yet Dodd and Frank PREVENT Bush twice from getting more regulations in place and a third time with McCain. GO FIGURE.

 

[RetiredGySgt]

I notice you IGNORED the point that BUSH and the Republicans wanted TARP. BUSH not the Democrats brought it up and took it to Congress. McCain wanted it as well. And VOTED for it.

 

[rdean]

The problem with TARP is that it did not do what the American people, and the government expected it to do:

The expectation was that the TARP money would be used to prevent the banking crisis from destroying the rest of the economy...i.e. 'Main Street'. It was to be used so that credit to business would continue.

Instead the banks used it in any way that they wanted. They used it to shore up their own finances, but continued to screw main street.

The governement had trusted the banks and thought that the banks understood what the intention of TARP was.

Later when it became apparent that the banks were not using the the TARP money as intended, the governement grandfathered in some new rules. They helped, the banks whined, but they were not strong enough. Too little, too late.

TARP saved the banks - which did not deserve to be saved. It had a minor positive effect on 'Main St.', but not close the the effect that was intended.

In the end the government and the 'taxpayer' made out O.K., the banks were saved, but 'Main St.' remains screwed.

Ultimately, TARP should judged by answering one question:

What would have happened if the governement had not implemented TARP?

In my opinion, the entire economy would have collapsed and a long with it our entire soceity. There is no way that the capitalist system could have replaced the entire banking and finacial system fast enough to prevent a massive humanitarian disaster. Theonly option would have been for the government to step in and offer banking and financial services.

This would have meant socialized banking and finance.

All of it can be traced back to the massive deregulation early in 2000.

Markets need regulation. Could you imagine if there we no regulations what Toyota would be like? Do you drive with no regulation? Could you imagine what kinds of houses would be built without regulation?

Republicans have actually bought into their own rhetoric. But if you can corner one, get it away from the "herd", they actually have common sense.

And yet Dodd and Frank PREVENT Bush twice from getting more regulations in place and a third time with McCain. GO FIGURE.

I clicked on EVERY SINGLE WORD and couldn't find a link.