Who Supported TARP, And Why?

Discussion in 'Politics' started by mascale, Jul 12, 2010.

  1. mascale
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    mascale VIP Member

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    Many Democrats who opposed the banker's bonus bailout.,TARP, finally were in support of TARP when it came to reinvesting in the U. S. auto industry. McCain-Palin famously suspended their campaign to claim that bailing out the banker's bonuses had really been their idea, all along. In Going Red(?), Palin does allude to a perception problem in America: That GOP is really anti-business after all.

    Palin was probably for TARP. The Democrats were for TARP, mainly when it becam pro-business, at the Obama Administration suggestion.

    New Dem Senators Change TARP Position Post-election - The Note

    The Republicans are now even against extended unemployment insurance. Customers will have money to buy things: That bankers won't buy for themselves9(?)!

    Arizona is probably not a good pro-business model, after all: If it was. Democrats had voted for it, but Bush actually signed it, and Paulson wanted it done quickly. Pelosi-Reid did that.

    TARP was neither Keynesian nor New Deal. Still the Democratis were willing to step forward into the emergency basis. The Obama Administration was able to Engage BP, in the emegency, and on that basis.

    Does anyone see a campaign referendum in the Making in any of that! The Republicans don't seem to want to do emergency funding, and maybe even accoridng to Palin(?)!

    "Crow, James Crow: Shaken, Not Stirred!"
    (Many find need to soar like Great-Hunting-Chicken-Hawk-Of-GrandFathers-Many-Territories, back into Writers Guild(?)! Find New Non-Negro Dialect. . . .Hmmmmm! Politics Not Now Seen. . . .Snake-Tongue-Like National Disgrace!)
     
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  2. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    TARP helped to stop widespread panic in the financial sector.

    It helped to stop us from dropping into a recession and lead to an economic turnaround.

    One of the things Bush did right
     
  3. The T
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    The T George S. Patton Party Supporting Member

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    Not so fast:

    Anti-TARP and Bailout Quotes from Sarah Palin and Paul Krugman

    [SNIP]

    PALIN:

    "We're hearing now more talk of additional taxpayer bailouts ... for companies, for corporations, perhaps even states now who may be standing in line with their hands out despite, perhaps, some poor management decisions on their part that helped tank our economy."

    "[I'm] disappointed that taxpayers are called upon to bail out another [company]."

    ""It sends the message that the bigger that you are, the more problems that you get yourself into, the more likely the government is to bail you out."

    "How can we think that setting up the Fed as monitor of systemic risk in the financial sector will result in meaningful reform? The words 'fox' and 'henhouse' come to mind."

    [/SNIP]

    Krugman Opinion Piece (The Big Squander )
     
  4. mascale
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    mascale VIP Member

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    TARP was for the perceptions of the equity markets. The Credit Market of the bankers was not under that much pressure. Even in 2010, The Total Credit Market, ultimately backed by the banks, is $52.0 tril. Mostly, Rep. Frank knows that the real problem that Paulson-Bush should have faced was transparency.

    So the big banks got a cash infusion. $200.0 bil. was repaid within 18 months, and at 8.5% APR. It is still not clear what they did with the money in the meantimem, escept that liquidity was freed up to pay mega-bonuses.

    Finally the auto industry got a bail-out, and GM was worth the bail-out. The summer employment hiatus is not happening at GM during the Obama-Biden supported, Summer of the Stimulus.

    Now banks are even redisovering the concept of maybe doing business. They make a lot of money, and were not seriously at risk--except that even the bankers couldn't tell if the other banks were even worse off, or not. The Libor Rates soared.

    And that is bank to the Transparency problem, now to start to be addressed in the FInReg.

    "Crow, James Crow: Shaken, Not Stirred!"
    (American Banking chose to remain so invisible that it chose not to attend Her Majesty's PM's instructive seminar at Davos: Explaining the concept of credit. . . .to the assembled. . . and that bigoted woman!)
     
  5. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    Are you people high??
     
  6. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Agree...The T must be high to believe the nonsense he posts
     
  7. mascale
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    mascale VIP Member

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    The Republicans have been sending the message for a month: That the Bigger You Are, The more likely you will be bailed out.

    If you are long-term unemployed, then your babies and your household will be crossed-off all the voter lists, and in all the Census Blocks, and in all the Social Security records that a GOP Administration can get its hands on!

    The Republicans can't even back emergency unemployment relief!

    And then there is Pallin, and in the Debates!

    Yes, Palin Backed the Bailouts The Washington Independent

    "Crow, James Crow: Shaken, Not Stirred!"
    (It's probably easier to see bigger banks, from the front porches in Alaska. People, "Going Cold," are not on radar!)
     
  8. The T
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    The T George S. Patton Party Supporting Member

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    I refuted "Palin was probably for TARP".

    Do try to keep up Norton?
     
  9. Luissa
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    Luissa Annoying Customer Supporting Member

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    I used to believe the bank bailout and Tarp was a good thing. I don't know how I feel now. I do know I don't agree with bailing out the banks at all anymore. I think we should have let them fail. I am done with banks betting on our future.
     
  10. The T
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    The T George S. Patton Party Supporting Member

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    Banks, Car companies...any large corporation if by their practices gets them into trouble? They need to FAIL.

    And as to banks? I think we need to get RID of the FED Reserve.
     

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