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View Diary: Austan Goolsbee’s Departure “Leaves Behind Frustration, Political Dysfunction” (239 comments)

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  •  you don't believe TARP was necessary? (1+ / 0-)
    Recommended by:
    sviscusi

    If you care about your life and your money, it's BEST to vote Democratic.

    by MartyM on Tue Jun 07, 2011 at 02:35:45 PM PDT

    [ Parent ]

    •  Of course it wasn't. (2+ / 0-)
      Recommended by:
      MartyM, HCKAD

      It was necessary only to save the Talibankers from not getting their bonuses.

      They are still insolvent. You'll understand later when we are paying the interest for not restructuring the banks.

      The promise, as you will remember if you dare, was that the funds would go to ease up lending to middle America.

      The reality was they held the money away from lending and used it to drive up the stock market, the price of commodities, pay themselves bigger bonuses than ever, buy Treasuries, do even more speculation than what they had done to cause the crash, and otherwise continue to transfer the public's wealth to their own private purposes.

      The reality was that lending went down! Down! to Main Street.

      Geez, don't people feel a need to remember what actually happened anymore? Don't they at least check google for old news reports?


      Until we break the corporate virtual monopoly on what we hear and see, we keep losing, don't matter what we do.

      by Jim P on Tue Jun 07, 2011 at 06:55:48 PM PDT

      [ Parent ]

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