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TARP: no accountability necessary
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DrTorch Offline
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Post: #1
TARP: no accountability necessary
http://news.yahoo.com/s/ap/20090130/ap_o..._oversight

So, if things get better they can claim success...if things get worse, complete denial. Nice, now you can keep your adoring fans and never own up to problems.

And we'll get to keep hearing how government involvement helps b/c they'll claim success.
(This post was last modified: 01-30-2009 03:05 PM by DrTorch.)
01-30-2009 03:03 PM
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smn1256 Offline
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Post: #2
RE: TARP: no accountability necessary
Quote:Sen. Charles Schumer, D-N.Y., said the administration is still debating how much more money to ask Congress to commit beyond the current $700 billion.

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01-30-2009 09:51 PM
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I45owl Offline
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Post: #3
RE: TARP: no accountability necessary
(01-30-2009 03:03 PM)DrTorch Wrote:  if things get worse, complete denial.

Not quite. They'll claim at least they did something, but in the end nothing could've stopped things from getting worse.
01-30-2009 11:16 PM
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SumOfAllFears Offline
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Post: #4
RE: TARP: no accountability necessary
Paulson had the authority to enable an oversight committee, but chose not to. Bastard should go to prison.
02-01-2009 05:23 PM
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Fo Shizzle Offline
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Post: #5
RE: TARP: no accountability necessary
(02-01-2009 05:23 PM)SumOfAllFears Wrote:  Paulson had the authority to enable an oversight committee, but chose not to. Bastard should go to prison.

I blame Greenspan and Bernake for artificially lowering interest rates to stimulate the economy. I think it is those polices that are directly to blame for the housing bubble and its burst. We wonder why Americans don't save?...Well damn...The low interest rates are an incentive to borrow not save.
02-02-2009 09:42 AM
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SumOfAllFears Offline
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Post: #6
RE: TARP: no accountability necessary
(02-02-2009 09:42 AM)Fo Shizzle Wrote:  
(02-01-2009 05:23 PM)SumOfAllFears Wrote:  Paulson had the authority to enable an oversight committee, but chose not to. Bastard should go to prison.

I blame Greenspan and Bernake for artificially lowering interest rates to stimulate the economy. I think it is those polices that are directly to blame for the housing bubble and its burst. We wonder why Americans don't save?...Well damn...The low interest rates are an incentive to borrow not save.

I'm talking "after the fact', Greenspan knew the shyit was about to hit, he did try to warn that the Gov. backing a private entity with taxpayer money and no oversight was a recipe for disaster. Bernake was not in charge long enough to affect anything. But Paulson should be prosecuted for dereliction of duty and public trust.
02-02-2009 01:38 PM
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Fo Shizzle Offline
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Post: #7
RE: TARP: no accountability necessary
(02-02-2009 01:38 PM)SumOfAllFears Wrote:  
(02-02-2009 09:42 AM)Fo Shizzle Wrote:  
(02-01-2009 05:23 PM)SumOfAllFears Wrote:  Paulson had the authority to enable an oversight committee, but chose not to. Bastard should go to prison.

I blame Greenspan and Bernake for artificially lowering interest rates to stimulate the economy. I think it is those polices that are directly to blame for the housing bubble and its burst. We wonder why Americans don't save?...Well damn...The low interest rates are an incentive to borrow not save.

I'm talking "after the fact', Greenspan knew the shyit was about to hit, he did try to warn that the Gov. backing a private entity with taxpayer money and no oversight was a recipe for disaster. Bernake was not in charge long enough to affect anything. But Paulson should be prosecuted for dereliction of duty and public trust.

Greenspan has gone on record admitting his folly.
(This post was last modified: 02-02-2009 01:56 PM by Fo Shizzle.)
02-02-2009 01:42 PM
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SumOfAllFears Offline
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Post: #8
RE: TARP: no accountability necessary
What's ironic is that Greenspan and Bernake both work for the FED. A government backed private entity, the same that Greenspan warned against.
02-02-2009 01:51 PM
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