Hi Everybody, http://www.humanevents.com/article.php?id=51297
Did TARP save America from economic catastrophe? We hear a lot of counterfactual arguments and economic theories on the matter. Politicians, naturally, have definitive answers. The public, though, is left to focus on three questions that now matter: Was the money paid back? Did TARP turn a profit? Did the legislation stabilize the long-term health of the economy? A new report to congress by Christy Romero, the Special Inspector General for the Troubled Asset Relief Program, says “no” on all fronts. Though the report asserts that TARP played an “active” role in the recovery (some of you may surely wonder “what recovery?”), it ends the myth that taxpayers turned a “profit” or were paid back by borrowers. How could this be? It was only in March when Treasury Secretary Tim Geithner claimed that while the “overriding objective” of TARP “was to break the back of the financial crisis” and save jobs, “the fact that our investment in banks has also delivered a significant profit for taxpayers is a welcome development." Similarly, after the first-round of bank re-payments, President Barack Obama maintained that "the government has actually turned a profit." What? The 1/16th "black" president not tell the whole truth? -- Regards, Pete http://pete-theisen.com/ http://elect-pete-theisen.com/ _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
