Quote:
Originally Posted by Lamplighter
I thought tw would be writing about the $7.7 trillion the Fed Reserve loaned to the banks at 0.01% interest.
|
This type recession intentionally created by banks and other financial institutions is the worst type. It takes years to resolve. And more years of unemployment. Unemployment created by fiscal mismanagement on and before 2007 may be finally starting to diminish. Recessions intentionally created by government and their ‘welfare enriched’ cronies take that long to resolve.
To avert 40% unemployment, only solution was to dump liquidity into systems that created this recession. That lesson was well learned from 1929. Unfortunately, it is not fair to put money into the hands of the nation's crooks. But if not done, then 40% unemployment would exist in 2012. By making that mistake in 1929, then unemployment was that massive in 1933. We don't have that massive unemployment due to TARP.
Next should be criminal prosecution of glorified tellers who think they deserve more than $500,000 annually. These bean counters, their education, political lies, and their egos created this recession. We had no choice but to dump massive liquidity on them. Now is when prosecution of these people should be happening. They are nothing more than upscale bank tellers. But they are also well connected to wacko extremists in government who created this recession. And thanks to the Supreme Court, can now spend as much as they want to buy politicians.
We had no choice but to give these devils more money. Now that we should have weeded out the devils, our wacko extremists, well, how many people went to jail because they intentionally created the California energy crisis to enrich themselves? Why did the state of Oklahoma have to embarrass Harvey Pitts by filing suit against Enron? Unfortunately too many Bernie Madoffs are protected by wacko extremists because the Supreme Court now says you can spend as much as you want to buy politicians.
Why did First Energy almost create another Three Mile Island? Because they arraigned a $600,000 campaign fund raiser for Bush/Cheney.
Well, another TARP has apparently averted another potential 1929; this time in Europe. A massive recession created by the most corrupt trained in an obvious lie: the purpose of a business is only profits.
TARPs, ironically, are criticized by wacko extremists who hope we all forget who created this economic mess. TARP was a necessary evil due to ‘economic stimulus’ created mostly after 2000. If extremists where driven from government, then these most corrupt would be on trial in mass numbers. But Congress is even still withholding funds from the SEC. Wacko extremists know who butters their bread.
TARP is what was unfortunately necessary to avert 40% unemployment. Euro countries were threatened by the same problem.