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

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  •  Well I think that's the wrong framing here (1+ / 0-)
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    No doubt, that IS the way TARP has been framed... "it's an emergency when the wealthy need money."  But TARP wasn't an emergency simply because "the wealthy needed money."  Had the banks been allowed to collapse, trillions and trillions in investment and retirement savings of average Americans would have gone out the window, and the $700 billion move, in retrospect, would have looked like a genius move.

    I understand why Americans are angry.  We have every right to be angry, at the right people.  Be mad at the banks for screwing everything up.  Be mad at the government for allowing this stuff to go on for so long.  Be mad at Congress for not having passed comprehensive financial reform yet.  But don't blame TARP as being part of the problem - it isn't.  This diary, and the video in the diary, focuses specifically on a loan program that, objectively speaking, is NOT part of the problem.  That our politicians and media are throwing TARP in with all the problems that lead to this disaster is what I'm objecting to.

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