NOTE: The phrase in bold below, is my own thought, not included in the report by the Treasury.
The TARP program, besides being flawed in its concept, is seriously flawed in its application. (emphasis mine) This according to a study by the Treasury Department’s own inspector general of the TARP program. You think?
The failure of these banks, while serious and painful, would have allowed the market to weed out those banks and companies that have been so poorly run for the past decade or longer. The ineptness of the Obama administration knows no boundaries. We all know that on the world stage, he’s the little kid that tags along with the adults. He bows to kings, and he slaps skin with a tyrannical thug that has no legitimacy whatsoever. We know now that he has no concept of what market economics do for a nation.
This administration needs a crash course in basic economics, NOW. Remember the on the job training that his VP talked about? Well, it’s coming back to bite the Spender-in-Chief on the backside.