What a Suprise. No One Can Find the Bailout Money!

Is anyone really suprised that we have no idea where our tax dollars involved in the TARP bailout are going?

The propenents of the TARP like Bernanke and Paulson agreed to all sorts of transparency but they won’t say where the money is going and what assets they have taken in return as collateral.  The Federal Reserve is a bank.  Or at least that’s what it is supposed to be.  If you were lending the money out, wouldn’t you want to know where it was going?

The banks are also playing dumb.  They just say it is pooled with all their other money and they can’t define exactly where it has gone.  What a joke!  They had no money to begin with!  Why else are they taking BILLIONS of dollars?

This is exactly why the recession we’re in isn’t getting any better.  There is no faith in the system at all.  We have no idea when the government is going to run out of ink for their printing press, and we have no idea if where all this money has gone.  Maybe it’s gone into the abyss that Paulson was warning us about.

If the Fed announced they would stop spending money tomorrow, interest rates would shoot up and we would have to find a way through the mess we’re in.  Companies would go bankrupt and there would be a huge initial hit to our entire economic system.  But after that quick hit, we could start to pick up the pieces and rebuild.  The high interest rates might restrict borrowing, but they would encourage lending.  We would come out on the other end as a completely different economy for the better.  Instead, we are just trying to hide the problems behind mountains of printed money.  We aren’t addressing any of the problems we are facing.

The TARP plan has to be one of the worst government interventions of all time.  It was passed by Congress using fear tactics and scare mongering.  It was poorly crafted and had no clear goal or intent, and it has changed since it was approved.  I’m not suprised one bit that no one knows where the money went, because no one knew where it was supposed to go to help in the first place.  It’s been an enormous failure and a waste of $350 billion so far, and no one is that mad about it because we all knew it would fail all along.

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One Response to “What a Suprise. No One Can Find the Bailout Money!”

  1. Jim Lunsford Says:

    Personally, I don’t think it was a bad idea in the sense that it did what I believe it was intended to do. I believe the rules and regulations are rigged so the economy does collapse, and we go running to the very people who made this freaking mess to start with: the Government behind the Government. The Fed runs this country, and everyone knows it. Or at least everyone who has paid any sort of attention to government knows it. And the people that run our fed reserve are the same people who run every other damn country’s central banking system. It’s just a fraud, but a fraud that I believe will backfire. Until now, people have not known they were slaves, but with this upcoming economic and political abyss we are facing, everyone will know exactly what they are worth in the eyes of these cold-blooded murdering bankers. Nothing. It will be a tough battle, but we slaves outnumber the bankers. If we are smart, we can defeat these monsters. And then maybe the whole world will have Truth, Liberty, and Justice for All. Thanks, Jim

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