Monday, 10/4/10, Public Square

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Filed under The Public Square

11 responses to “Monday, 10/4/10, Public Square

  1. Listen up folks, I’m about to say something positive about bush the lesser, and that opportunity doesn’t present itself often.

    The Treasury Department’s much-maligned Treasury Asset Relief Program, or TARP, expired.

    The $700 billion program was engineered to stave off an economic collapse, as banks — large and small — across the country started buckling from the weight of the mortgage crisis.

    For the past two years, its detractors have referred to TARP as a four-letter word and argued that it helps only Wall Street, not Main Street.

    But many of those who helped craft the program — from Congress to those within Treasury — maintain that TARP ultimately cost very little and was absolutely necessary at the time.

    So, let’s give credit to the bush team for TARP!

    Now, let’s also note that the new “Pledge to America” which is a longer and sillier version of the old “Contract ….” which the GOP recently released promises to end TARP spending. One promise I’m betting they’ll keep. 😉 Maybe the only promise they’ll keep?

  2. tosmarttobegop

    I did understand the principles of TARP and the logic of it, it was the implementation that was bad.

    I will explain it this way, if you knew someone who was about to lose their home because they ran out of money to pay the payments.

    You could provide them that money to save their home, you would expect them to do the right thing wouldn’t you?

    But the downfall is that since you thought they would do what was needed to save their home.

    There was no requirement to use that money as it was intended to, you were depending on simple common sense.

    They on the other hand saw that money as something they could use to buy a new car or boat.

    To continue to gamble as they liked, or to start something that is intended to put money in their pocket instead of saving the house!

    Such is what happened with TARP, they simply continued to do what they were doing that cause them to be on the edge of losing the house. It was their natural actions and had been for the last twenty years.

    It made sense back then so does not make sense today?

  3. tosmarttobegop

    Fnord I see it as you do, but most will not see that they are promising to end a program that was ending before they said they would end it.

    • Their “Pledge” was made asking please be sure we’re elected in numbers to regain the majority and this is what we will do when we have the numbers.

      So one of their promises was to end something that ended at midnight last night. Two possibilities:

      1. They had no idea what the legislation said since the ending date was part and parcel from the beginning.

      2. They counted on their constituents to not know and just believe anything they said.

      Either way, the ‘pledge’ was a campaign tactic that will work with those who were already going to vote for them, and maybe a few more. But it doesn’t fool anyone who is paying attention.

  4. paulasayles

    Thought you all might like this as much as I did. I do believe that both parties are equally corrupt and some days I think we should scrap the whole thing and start over. However, if it comes down to the choice between two corrupt parties, at least the Dems policies are not blatantly damaging to the country.

    • tosmarttobegop

      Watching that it brought something back to the forefront of my mind.
      The Republicans big on defense and now big on using might to control the rest of the world.

      The Democratic said to be weak on defense and sissy on using force.

      YET… every war that has begun and ever “Policing act” had since WWI has been under a Democratic President until Bush! You blood thirsty Democrats!!!! Boy you all have the public fooled huh?

  5. tosmarttobegop

    (In response to a comment on that other blog about money not already spent on Katrina)

    OH your house burnt down… That is bad… Here I have money to rebuild your house… Ah but then this is something like six years later? …. Have you rebuilt your house yet?

    Money sent but not spent several years ago is not the fault of the current administration!

    Try that refreshing drink called reality it comes in the flavors of light, see the light and you tend to make your own up!

  6. Since I know all of you have working brains and won’t ‘fall’ for this —