Is John Sullivan Toast this November?

[rwarn17588]

As for what's wrong with voting for TARP, it sure got Bob Bennett run off the Republican ranch in Utah and Rand Paul nominated in Kentucky. Unless I'm reading all those picket signs wrong, the Tea Party folks are convinced that all that doomsday big financial disaster scenario is a lot of left wing liberal malarkey. They're convinced that the free market should have been allowed to work its "creative destruction" and we would all have been better off and freer (if poorer) for it.

Does anyone really think it would have been preferable to have 30 percent unemployment and the collapse of the financial markets instead of passing TARP?   

The last time this country had jobless levels that severe was during the Great Depression. Nobody in their right mind wants to return to those conditions. And I bet if you pressed tea partiers about this, they sure as hell wouldn't want a Great Depression II, either.

BTW, the financial bailout is estimated to cost only about $89 billion, which is much, much less than the original estimates and a helluva lot less than the S&L bailout from two decades ago.

http://www.reuters.com/article/idUSTRE63B05N20100412

[Cats Cats Cats]

I heard he was going to have a local artist design his campaign signs.  Any ody heard who it might be?  I have been looking for a pic but haven't found it.

I finally found it.

[Conan71]

Does anyone really think it would have been preferable to have 30 percent unemployment and the collapse of the financial markets instead of passing TARP?   

The last time this country had jobless levels that severe was during the Great Depression. Nobody in their right mind wants to return to those conditions. And I bet if you pressed tea partiers about this, they sure as hell wouldn't want a Great Depression II, either.

BTW, the financial bailout is estimated to cost only about $89 billion, which is much, much less than the original estimates and a helluva lot less than the S&L bailout from two decades ago.

http://www.reuters.com/article/idUSTRE63B05N20100412

That was a "Damned if you do..." if there ever was.

If one voted for TARP, it was more government excess and bailing out the bad guys and the "banksters" not learning a lesson because the government will bail them out every time.  - My big rub on it

If they didn't vote for it, as you said, unemployment would have sky-rocketed and I don't think we'd be anywhere near the level of recovery we are at now. - The cold reality of it.

My understanding is much of the TARP funds are being re-paid.  I detest it a whole lot less in hindsight than I did at the time.  I don't think many of us (myself included) are capable of understanding just how bad it could have gotten without TARP. 

[Cats Cats Cats]

I don't think many of us (myself included) are capable of understanding just how bad it could have gotten without TARP. 

When every large business runs has some sort of credit they run off of.  When the top of the food chain banks went under and those credit lines went with them.  They possibly couldn't pay their employees or invest in their business, depending on when in their business cycle, etc.  I can see tons of companies never bothering to have the cash on hand to take care on business depending on how they worked it.  Companies like DELL who actually make a crap ton of money on the interest on their float.