The TARP Is A Trap (January 19, 2009)
No one has offered a plausible explanation of or justification for the continuing Bailout/Bribe know as TARP (Troubled Asset Relief Program). [See the e-ssay dated October 6, 2008 entitled “A Bleak Day: The Trillions Dollar Tragedy”]. What was the problem in September, 2008 that had not been there for years and continues unabated today? A “credit crunch”? For the first time in years, the availability of credit was at a rational level. Those who were creditworthy were able to obtain credit; those who were not were not. We burned more money and more daylight while the underlying conflagration continued to rage.
Bumper sticker of the week:
Pouring water into a watering can does not water the plant; pouring water around the roots of the plant waters the plant.