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View Diary: Crunch. Another rotten jobs report. U6 surges to 17.1% (233 comments)

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  •  TARP.. leads to a question, for me.. (2+ / 0-)
    Recommended by:
    gerrilea, cybrestrike

    ..it was originally budgeted at $700 billion.

    I saw a CNN report where it now cost only $50 billion in unrecovered money.. the rest has been 'paid back'.  (Tying CEO bonuses to repayment seems to have been a good incentive for them.)

    So.. why don't we (at least!) have a $650 billion WPA package on the President's desk today or sooner?

    "To pass these defendants a poisoned chalice is to put it to our own lips as well." Justice Robert Jackson, Chief Prosecutor, Nuremberg.

    by Wayward Son on Fri Oct 08, 2010 at 06:25:39 AM PDT

    [ Parent ]

    •  even if paid back (3+ / 0-)
      Recommended by:
      gerrilea, Jagger, cybrestrike

      which is just a myth, the moral hazard is that we now have socialism for the rich. They don't have to follow traditional capitalist models to maintain their wealth, supply and demand doesn't matter for them anymore. 17.1% unemployment is not a problem for the oligarch's, they don't have to sell the rest of us goods to stay rich anymore.

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