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View Diary: Bill Halter comes out swinging - SLAMS (!!) Lincoln for bailout vote (193 comments)

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  •  That's not what TARP did (0+ / 0-)

    First, it wasn't a bailout - as you say it was.  Most of the money has been paid back.  In many cases with a profit.  

    TARP wasn't about removing toxic assets from the banks - that's what PPIP was about (and fair enough to debate that).  TARP was about giving banks enough capital urgently so they didn't collapse, period.  

    So yes, I absolutely think it was good for Arkansas.   I don't see how Arkansas would have benefited from a collapsed financial system.

    TARP is not a bailout for NY/CA/FL - Bank of America was in North Carolina (with branches everywhere).   Why did you not include that?

    To recap - TARP was not about removing toxic assets from the books, and was never meant to be.   Nor was it a bailout.

    I'm shocked to learn that 1 in 12 Americans do not know that the bird, is in fact, that word.

    by dansac on Mon Apr 12, 2010 at 12:19:08 PM PDT

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    •  P.S. I realize the irony (0+ / 0-)

      that TARP is called the Toxic Asset Removal Plan - but in reality it never was.  It was about giving banks capital so they don't collapse - anyone who thought it was anything else was fooling themselves.  That's why other plans like PPIP came-out after TARP to try to deal (with mixed results) with the toxic asset issue

      I'm shocked to learn that 1 in 12 Americans do not know that the bird, is in fact, that word.

      by dansac on Mon Apr 12, 2010 at 12:24:40 PM PDT

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