TARP overseer says bank bailout program has mixed results
The government's $700 billion bank bailout bill has met its goal of helping bring the financial markets back from the brink, but has so far failed to increase lending from the banks who received the taxpayer assistance, a key government overseer reported Sunday in a generally critical review of the program.
The federal government program to provide welfare for the wealthy was a smashing success. All of the institutions that contributed to the Barack Hussein Obama election campaign have been bailed out. All their executives were able to pay themselves the annual bonuses they so clearly deserved.
The rest of the country was not so lucky. Millions of people are now unemployed. Millions of people are now facing foreclosure on their homes. Hundreds of banks have failed and been closed. Hundreds more are expected to fail and close. The government is not even bothering to track the number of business that have failed and closed. Where do you think the millions of unemployed are coming from?
This is what a government toady, on government payroll considers mixed results for saving the financial markets? I shudder to think what poor results would be.
Actually I shouldn't be so harsh. The $700 billion bailout was never intended to save the economy, jobs, homes or anything else. So it is unfair to critize the bill for not doing something it was not intended on doing. The $700 billion bailout was payback for political favors, and it was successful at that.
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