View Single Post
      08-19-2012, 03:25 PM   #6
rgrovr
Private First Class
6
Rep
154
Posts

 
Drives: 2008 335xi E90
Join Date: Dec 2009
Location: NYC

iTrader: (0)

Talking points suck. They really do.

TARP program - during the height of the 2008 collapse was more a knee-jerk, o-shit reaction to the reality of a pending financial collapse that has been the only true bi-partisan bill passed in quite some time.

If you recall the Repubs actually voted it down in the House the first time up and the Markets roiled to the brink of collapse. That put the scare of Jesus in all congressman and it passed easily in the next House vote with equal Dems and Repubs.

Personally I was and still am against TARP not just in principle but in practical execution. I can understand why the politicians passed it, but they were scared shitless on both sides that nobody decided to put tight controls and constraints on the TARP program, the monies delivered, and any transparency in fund management.

It was and still is a slush program. The gov't may be better suited putting out a debtor of last resort program or something akin to FDIC for financial/investment instruments - only after letting the banks that got themselves in their little mark-to-market and derivatives problem fail like they should have.

So yes - CONSERVATIVES, not Repubs - have a prob with TARP. Always have. But I don't pretend to hold a blind, neophyte eye to the world at hand. Most pols took a reasoned, but imo wrong approach to the TARP vote (President Obama included).

You can go back to your regularly scheduled talking points now..
__________________
2008 335xi E90 Black Sapphire -||- PERFORMANCE: JB4 -DCI - AR Catless DPs - Helix FMIC - Forge DVs - KW V3 Suspension - BSH OCC -||- COSMETIC: 19" M3 Reps - OEM Perf. Front - MTech Sides - MTech Rear - OEM CF Spoiler - CF Kidney Grills - LUX H8 - LED Interior Kit - CF Wrap Trim - M3 iDrive Knob