did you write ugly letters to the wsj and scream bluddy murder when they
cheered on the trillion dollar dump to the wall street big banks?
Just want to clear up a distinction which is never made here, or in the
media.
The 700B TARP was intended ONLY to rescue the entire financial system so
that the whole economy wouldn't collapse, and, as bad as things are now
and may worsen, it has served that purpose. And the participants
received LOANS, at hefty interest rates, which have a good chance of
being repaid. If not, Uncle Sam is first in line to receive remaining
assets if they go bankrupt.
Now, Obama and the Democrats trillion dollar dump is exactly that, a
huge gamble that it will create jobs, when spending never has in the
past. That trillion will come from the Chinese, and they may not
continue lending, once all this spending causes inflation to rear its
ugly head.
Again, TARP was a loan, Economic Recovery Package is spending.
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