Tarp Receitpients - Power Trip
Sorry, I misspelled receipients.
It is now starting to make sense. After a couple rounds of bailouts we started wondering why the banks get such better treatment over other industries, including automotive. Make no mistake, I am not for the autobailout anymore than I am for all these disbursements going to all the banks. But I think I figured things out.
One of the most obvious problems we have may be the toxic mortgages that homeowners are dealing with. Had the gov't chosen to byte the bullet and agree to write down morthages to todays values as originally planned in the 1st Tarp agreed during Bush's tenure, we would have seen the housing crisis healing immediately before more damage is done. Instead, Gomer Geitner writes a toxic liquidity solution to give the money to the banks. It does not mean much to the average homeowner in crisis. Why? Because the banks do not have to do anything for the homeowner. They write down their inequities.
So why has the government been so persistent to give money to banks? Power. They want to control the banks. This may not have been the plan from day 1, but it sure seems to be at least a new modified goal. The proof is the fact that they want to excercise intervention for not only all the receivers of tarp money, but for businesses they deem subjectively, to be too vital to fail. A story hits indicating how the administration will not accept money to be paid back by many of the banks that are now fearing of this new power move. Why? Power.
Now I ask you, why is it we are so comfortable with the governement being allowed to intervene and take over companies that receive tarp. Especially since its intended to be paid back. Imagine a bank exec inviting their family to have a party at your house, and asking ou to leave since they are the lienholder. Or better yet, how about those who receive welfare. Thats our tax dollars right? So suddenly its not even ok to have them take a drug test. Hell, be consistent. We should be able to have welfare receipients cut our lawns at no cost right. Because that is how the government feels about tarp recipients.
Anyway, I do think the government is looking to resculp our nation permanently. And this may be a lot more socialist than we want to imagine.
For those who love socialism, congrats. For those capitalists who voted for Obama thinking he was a moderate, congrats. You helped allow this to happen. And now to think, its only been a few months and its already so clear.
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