Perry supported TARP

[mudwhistle]

Yeah we save the banksters from meltdown, alright.

We're still saving them from meltdown, too.

Meanwhile we're deciding which Americans to throw under the bus.

How's that Hope And Change working for you????

 

[JoeB131]

That's the letter that he co-signed with the Chairman of the Democratic Governors Association.

Gov. Rick Perry, saying he's "sick and tired" of the partisan gridlock in Washington, slammed the federal government on Tuesday for failing to agree on a rescue of the U.S. financial markets.

"Washington needs to get over the partisan bickering," Perry said. "They've got their work cut out, but one of them is to get over the initial behind their names and start being Americans first and quit being Democrats and Republicans."

Perry slams Washington for bailout failure - Houston Chronicle

So if it's really going to be between Rick Perry and Mitt Romney the Republicans might as well just run John McCain again, or throw all of their support behind Obama.

TARP isn't the problem, the way it was carried out is.

Letting the firms pay bonuses out of TARP funds was a mistake. No Bonus for you!

 

[JoeB131]

Yeah we save the banksters from meltdown, alright.

We're still saving them from meltdown, too.

Meanwhile we're deciding which Americans to throw under the bus.

All true.

So what is Obama doing about that?

No one is arguing the Banks behaved smartly or ethically. And they had both parties in their hip pockets. Barney Frank and Chris Dodd were both linked to the meltdown and frustrating regulators, and these were the two clowns who wrote the "reforms".

 

[editec]

Yeah we save the banksters from meltdown, alright.

We're still saving them from meltdown, too.

Meanwhile we're deciding which Americans to throw under the bus.

How's that Hope And Change working for you????

About as expected.

I had no hope that real change was on the agenda, Lad.

I was somewhat surprised by how BAD the Obama HC bill was, and the fact that he has failed to get us out of AFghanistan and Iraq, but beyond those issues my diminished expectations have been coming to fruition for the last couple decades.

 

[Warrior102]

That's the letter that he co-signed with the Chairman of the Democratic Governors Association.

Gov. Rick Perry, saying he's "sick and tired" of the partisan gridlock in Washington, slammed the federal government on Tuesday for failing to agree on a rescue of the U.S. financial markets.

"Washington needs to get over the partisan bickering," Perry said. "They've got their work cut out, but one of them is to get over the initial behind their names and start being Americans first and quit being Democrats and Republicans."

Perry slams Washington for bailout failure - Houston Chronicle

So if it's really going to be between Rick Perry and Mitt Romney the Republicans might as well just run John McCain again, or throw all of their support behind Obama.

That letter looks as "authentic" as Obama's birth certificate.

 

[The Rabbi]

From the article:

"My concern is that Washington is so inept at addressing these issues that are important to Americans, whether it's securing our borders or whether it's securing our financial future," Perry said. "Washington has been absolutely abject failures at this."


Perry stopped short of endorsing any particular approach to the U.S. financial meltdown and warned against any measures that would allow shady business practices to continue.


"We're sick and tired of watching Washington bicker with each other while financial markets are roiled," he said. "The other side of that is we're certainly not interested in Washington bailing out a bunch of irresponsible mortgage brokers in an industry that has too often been run on greed."
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​

The point was he was tired of the partisan politics.


The article you cite says Perry DIDN'T specifically endorse TARP.

There were several phases of TARP, some of which I supported (backstopping the banks against failure), others of whch I opposed (bailing out the auto companies etc).
All of that happened after Perry's letter.
The Wookie-Suiters hate Perry. They are merely Leftists by another name.

 

[The Rabbi]

That's the letter that he co-signed with the Chairman of the Democratic Governors Association.

Gov. Rick Perry, saying he's "sick and tired" of the partisan gridlock in Washington, slammed the federal government on Tuesday for failing to agree on a rescue of the U.S. financial markets.

"Washington needs to get over the partisan bickering," Perry said. "They've got their work cut out, but one of them is to get over the initial behind their names and start being Americans first and quit being Democrats and Republicans."

Perry slams Washington for bailout failure - Houston Chronicle

So if it's really going to be between Rick Perry and Mitt Romney the Republicans might as well just run John McCain again, or throw all of their support behind Obama.

TARP isn't the problem, the way it was carried out is.

Letting the firms pay bonuses out of TARP funds was a mistake. No Bonus for you!

The employees were promised that money, they worked on the assumption they would be paid that money, so why shouldn't the company honor its committment?
TARP sprialled out of control as more and more people saw it as a food fest and came to the trough. That was partly Bush's fault and definitely Obama's fault.

 

[naturegirl]

This letter is from October 1, 2008. There were several republicans that voted for TARP, and many more Dems. Funny how a non-partisan agreement supporting the policy that prevented a total collapse of our financial system is now a bad thing. Proof there is more division than ever, compliments of our Campaigner-in-Chief.

TARP isn't actually legislation, it's a program that was enacted by Public Law 110-343, or H.R. 1424.

In the House, H.R. 1424 passed with the following breakdown of votes:
Democratic 172 Yea; 63 Nay
Republican 91 Yea; 108 Nay
Total - 263 Yea; 171 Nay

In the Senate, H.R. 1424 passed with the following breakdown of votes:
Democratic 41 Yea; 10 Nay
Republican 33 Yea; 15 Nay
Total - 74 Yea; 25 Nay (Sen. Kennedy was in the hospital and did not vote.

BTW, 0bama wouldn't even leave the campaign trail to go back for discussion about this. He did show up to vote yes, however.

Oh and Therabbi, I completely agree with your post, food fest is a nice way to put it. lol

 

[Immanuel]

Well Perry is a politician, after all.

Okay I will revise and extend my remarks.

That is almost as bad.

Just what we need another politician.

Immie

They are all politicians.

Well, duh!

Just like I said "just what we need". We need them about as much as we need life on Planet X.

Immie

 

[The Rabbi]

Okay I will revise and extend my remarks.

That is almost as bad.

Just what we need another politician.

Immie

They are all politicians.

Well, duh!

Just like I said "just what we need". We need them about as much as we need life on Planet X.

Immie

While the term has a bad rap for obvious reasons, politicians get things done. Politics is messy. It requres dealing and compromise to accomplish anything. There are many many competing interests and trying to come out on top means sacrificing a little. This is partly why we seldom get a Senator or Representative as president--too many votes that were compromises of one kind or another.
Lyndon Johnson was probably among the most effective presidents we've had just in terms of getting his agenda passed. This isbecause he spent years in the House and knew how to play the game.
Id rather have a politician who can get it right most ofthe time than a principled incompetent who can't do anything.

 

[Kevin_Kennedy]

Unlike the Failed Stimulus Tarp was essential. That is what staved of a Depression not the Damn Stimulus. What is so bad about supporting it. Over 70% of what was actually spent has already been paid back.

Treasury: TARP Money Returned to Taxpayers Exceeds $250 Billion - Real Time Economics - WSJ

The Treasury Department on Tuesday updated its projections for the cost of the 2008 Troubled Asset Relief Program, saying that for the first time the amount of funds that has been returned to taxpayers exceeds $250 billion.

TARP was created to be a $700 billion program, but much of the money wasn’t used. The Dodd-Frank financial overhaul law essentially capped the amount of money that could be used at $475 billion. “Nearly 70% ($477 billion) of the original $700 billion has been repaid, offset with profits, or canceled,” Treasury said on Tuesday.

Treasury projected that more money would continue to come in through the program, and it reiterated an October estimate that the “overall lifetime cost” of the program would be roughly $50 billion.

Stop a Financial Meltdown and the total cost ends up being 50 Billion. Not to bad. To bad we had to go Blow fucking a few Trillion more after that on Failed Stimulus Spending Programs.

TARP was the same failed idea as the stimulus. You can't prop up failed institutions when the market needs to correct itself.

 

[Kevin_Kennedy]

That's the letter that he co-signed with the Chairman of the Democratic Governors Association.

Gov. Rick Perry, saying he's "sick and tired" of the partisan gridlock in Washington, slammed the federal government on Tuesday for failing to agree on a rescue of the U.S. financial markets.

"Washington needs to get over the partisan bickering," Perry said. "They've got their work cut out, but one of them is to get over the initial behind their names and start being Americans first and quit being Democrats and Republicans."

Perry slams Washington for bailout failure - Houston Chronicle

So if it's really going to be between Rick Perry and Mitt Romney the Republicans might as well just run John McCain again, or throw all of their support behind Obama.

So what!!

Plenty of people were fooled into supporting it. Course not so many were tricked into supporting the Porkulus bill.

So what? He's running to be President of the U.S. That's what. Why would you want to vote for someone who thinks government knows better than the market? Someone who supported wasting tax payer money and bailing out losers who should have been put out of our misery? Wasn't this one of the reasons the Tea Party came into existence? Now people are saying Perry can unite the Tea Party with more traditional Republican voters? Come on now.

 

[Kevin_Kennedy]

That's the letter that he co-signed with the Chairman of the Democratic Governors Association.

Gov. Rick Perry, saying he's "sick and tired" of the partisan gridlock in Washington, slammed the federal government on Tuesday for failing to agree on a rescue of the U.S. financial markets.

"Washington needs to get over the partisan bickering," Perry said. "They've got their work cut out, but one of them is to get over the initial behind their names and start being Americans first and quit being Democrats and Republicans."

Perry slams Washington for bailout failure - Houston Chronicle

So if it's really going to be between Rick Perry and Mitt Romney the Republicans might as well just run John McCain again, or throw all of their support behind Obama.

TARP isn't the problem, the way it was carried out is.

Letting the firms pay bonuses out of TARP funds was a mistake. No Bonus for you!

Actually TARP was the problem. The market needed those firms to go under, and we were forced to prop them up. It's bad economics.

 

[whitehall]

The left wing's capacity to research opposition candidates is stunning. When you combine it with the overwhelming liberal media spin and nit-picking by George Soros tax exempt Media Matters it's a wonder any republican survives .

 

[Kevin_Kennedy]

The left wing's capacity to research opposition candidates is stunning. When you combine it with the overwhelming liberal media spin and nit-picking by George Soros tax exempt Media Matters it's a wonder any republican survives .

You appear to be very confused.

 

[Paulie]

Looks like Perry was willing to reach across the aisle and call for an end to partisanship.

And announce his support for the recovery package, aka TARP.

That's not what is says at all...it says stop the partisanship and pass an economic recovery package...not Tarp specifically.

Since when does a free market capitalist support federal economic recovery packages?

We're supposed to be about getting government out of the way and letting the market correct itself.

Any package he would have supported would inevitably been some kind of major government expenditure.

You'd have been be ok with it as long as it wasn't TARP specifically?

 

[Paulie]

That's the letter that he co-signed with the Chairman of the Democratic Governors Association.

Gov. Rick Perry, saying he's "sick and tired" of the partisan gridlock in Washington, slammed the federal government on Tuesday for failing to agree on a rescue of the U.S. financial markets.

"Washington needs to get over the partisan bickering," Perry said. "They've got their work cut out, but one of them is to get over the initial behind their names and start being Americans first and quit being Democrats and Republicans."

Perry slams Washington for bailout failure - Houston Chronicle

So if it's really going to be between Rick Perry and Mitt Romney the Republicans might as well just run John McCain again, or throw all of their support behind Obama.

So what!!

^ This is a great example of why we're never going to see real fiscal conservatism in this country. Even the ones who have every intention of supporting fiscal conservatism are being fooled.

 

[JakeStarkey]

From the article:

"My concern is that Washington is so inept at addressing these issues that are important to Americans, whether it's securing our borders or whether it's securing our financial future," Perry said. "Washington has been absolutely abject failures at this."


Perry stopped short of endorsing any particular approach to the U.S. financial meltdown and warned against any measures that would allow shady business practices to continue.


"We're sick and tired of watching Washington bicker with each other while financial markets are roiled," he said. "The other side of that is we're certainly not interested in Washington bailing out a bunch of irresponsible mortgage brokers in an industry that has too often been run on greed."
.
.
.
.
.

​

The point was he was tired of the partisan politics.


The article you cite says Perry DIDN'T specifically endorse TARP.

The point is that the Republican governor of Texas would support a federal economic recovery act.

 

[Kevin_Kennedy]

And announce his support for the recovery package, aka TARP.

That's not what is says at all...it says stop the partisanship and pass an economic recovery package...not Tarp specifically.

Since when does a free market capitalist support federal economic recovery packages?

We're supposed to be about getting government out of the way and letting the market correct itself.

Any package he would have supported would inevitably been some kind of major government expenditure.

You'd have been be ok with it as long as it wasn't TARP specifically?

Not to mention how he went after Washington for "partisanship" after TARP failed to pass the first time, thus showing that he did indeed support TARP and that he only turned against it after it became clear that it was politically unpopular during his re-election campaign for Governor.

 

[Paulie]

That's not what is says at all...it says stop the partisanship and pass an economic recovery package...not Tarp specifically.

Since when does a free market capitalist support federal economic recovery packages?

We're supposed to be about getting government out of the way and letting the market correct itself.

Any package he would have supported would inevitably been some kind of major government expenditure.

You'd have been be ok with it as long as it wasn't TARP specifically?

Not to mention how he went after Washington for "partisanship" after TARP failed to pass the first time, thus showing that he did indeed support TARP and that he only turned against it after it became clear that it was politically unpopular during his re-election campaign for Governor.

I like Missourian, but this just goes to show that cognitive dissonance can be a real bitch when it comes to politics.

Show me Ron Paul supporting government intervention in economic downturns, and I'll gladly withdraw my support of the man.