Turbo Tax Tim Defends TARP- Dispels Myths for Drooling Idiots
I recently read a Washington Post piece by our Treasury Secretary, Tim Geithner. Tim tries to dispel the "myths" about T.A.R.P. You can read the article in it's entirety at http://www.realclearpolitics.com/ I very nearly entitled this blog, "Tim Blows Smoke Up Our Asses." The first rule of FED bankers is, Never Jeopardize the FED. You see, letting the FED's member banks fail was in fact the right thing to do. You see Tim, those are the same business rules that all of us peons have to play by. When we play fast and loose with the operating capital- leveraging non existent money and making loans to deadbeats- we generally fail. We don't give a shit whether the banks pay us back or not. That's not the point and you know it. Letting those banks fail and be put into receivership may have exposed the entire FED to scrutiny. The same scrutiny they try very hard to avoid. At that point, the American people may have asked some weird question like, "Jus