The bailout is still a bad fucking idea

[Strangelet]

Niel Barofsky, the inspector general for the Troubled Asset Relief Program - or NAMBLA - asserts that chances of the tax payer seeing much profit on investment is nil, if money is recouped at all. Mortgage modification and auto loan portion of tarp is never coming back, which in itself is 1/7 of the bailout funds.

And Tarp is only the tip of the iceberg. purchasing and subsidizing mortgage bonds, government treasury bonds, toxic assets, fdic insurance is also the way we've subsidized the banks through back door deals orchestrated by the federal reserve and the treasury department. And unlike tarp, none of these programs have pesky bonus restrictions.

All told total bank giveaway : 23.7 Trillion



the people who were against the bailout were vilified as heartless, free-marketeers



and the current "recovery" is touted as proof positive that it worked. But where are we really? this choice diatribe by peter schiff might be a good indication.