Republicans and Democrats who supported the program are in big trouble with voters leading up to the November elections. Yet, it turns out the government may get all its money back, plus some. U. S. Senator Robert Bennet, a Utah Republican who voted for the TARP, was hammered by the Tea Partiers in his state and lost his bid for re-nomination for a 4th term.
Here's what Bennet said in the Times article: “For those who were screaming at me — and screaming was the operative word — ‘You’ve just saddled our children and grandchildren with $700 billion,’ I said, ‘No, I haven’t,” Mr. Bennett said in an interview.
“My career is over,” he added. “But I do hope that we can get the word out that TARP, number one, did save the world from a financial meltdown and, number two, did so in a manner that, I believe, won’t cost the taxpayer anything. And even if it did not all get paid back, it was still the thing to do.”
2 comments:
Maybe TARP did save the world but that is not what we ought to be focusing on. The real question is, why was it necessary? How come Barry Obama, Barney Frank, The Congressional Black Caucus, Fannie Mae and Freddie Mac are still around spouting the same crap that everyone deserves a home of their own. That was the cause of the meltdown that necessitated the TARP in the first place.
Hey Anonymous, it was not the Democrats who turned HUD into a mortgage funding agency - instead of the low income rental support agency it was designed to be. It was Bush the war criminal and the nutty federal Republicans during their reign of economic and cultural terror that caused the debt recession.
And your racism is clearly visible for all to see. The Congressional Black Caucus? You're blaming them for your anger? Are you the Whitey Scheizkopf I see named sometimes? You forgot to blame the Muslims too.
You are one of the many fools who still can't see that both corrupt political parties are responsible for the American dream lie over home ownership. For many Americans owning a home is just another form of debt servitude brainwashed into us by the bankers who control our economy.
Get real and stop writing your ignorant right wing hate on this digital notepad.
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