Bailout Cop: TARP’s Not Working
I am actually disappointed at this one; but, not surprised. Besides, the word ‘tarp’ gives me a vision of an older trailer home that has a leaky roof and the occupants have simply put a blue tarp over the roof to ‘temporarily’ stop the leak until they can get it permanently fixed. The problem with that is: it has been several years now since they were going to fix the problem and the tarp is now all frayed and the roof is beginning to leak again!
Pay close attention to typical government spin on this one. In particular this telling quote:
There was at least one bit of good news from Barofsky’s latest report however. He acknowledged that while the ultimate cost will still be “substantial” for American taxpayers, it will be less than originally estimated….TARP will ultimately cost taxpayers approximately $159 billion.
Gee, that’s great! Out of over $700 billion invested we will only experience a $159 billion loss! I don’t for the life of me see why we are so upset at the prospect of the government running our health care system with this kind of ‘return on their investment’ track record?!
Here’s the link to the whole story:
http://money.cnn.com/2010/01/31/news/companies/tarp_report/
Once again a glaring example of the foxes guarding the chicken house!
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