Posted by
Defend America on Thursday, December 10, 2009 8:47:59 AM
December 10, 2009
Bailout, RIP
By Randall Hoven
The bailout is over: Born
October 3, 2008; Died December 7, 2009. The banks have been rescued.
A Great Depression has been averted. Feeling better?
"And
to adequately reform our system, we must make sure we fully understand
the nature of the problem which will not be possible until we are
confident it is behind us." Henry Paulson, Secretary of the Treasury at the birth of the bailout.
It
is now behind us. (By the way, I cite this quote from Paulson not so
much to elucidate, as to mock the guy who asked for $700 billion to
solve a problem, the nature of which he could not understand until it
was behind him.)
According to the Associated Press
Monday, the Obama administration is about to announce that the Troubled
Assets Relief Program (TARP) has run its course; they are done. (Well,
almost done. Now Treasury Secretary Geithner says
he'd like to keep that money around, just in case of "fresh economic
shocks." You can never be too complacent about economic shocks, you
know. You never know when a few hundred billion dollars might come in
handy.)
http://www.americanthinker.com/2009/12/bailout_rip.html