Content by Issue > T.A.R.P. and Bail Outs
T.A.R.P. and Bail Outs

Under the auspices of correcting the enormous problem it created by forcing banks to grant mortgage money to unqualified borrowers at artificially low interest rates, the liberal-dominated Congress quickly passed the "Emergency Economic Stabilization Act" which included the "Troubled Asset Relief Program" (T.A.R.P) even though as many as 90% of Americans opposed bank bailouts. T.A.R.P. initially allocated $700 billion to bail out financial institutions in the hope it would restart the lending process, that consumers would go more deeply into debt and that consumers would start spending borrowed money again. T.A.R.P. also pumped billions into hundreds of non-stimulating, debt-creating public projects that essentially rewarded unions and other special-interest groups that vote for—you guessed it—Democrat Senators and Representatives. To preclude public and political conservatives from opposing the Act, Congress declared it an emergency measure that required immediate passage, after which it was revealed that lawmakers, including kingpin Pelosi, did not even read the bill.

If Congress had the best long-term interest of the American public in mind, it would have allowed the free market to recover from the loose credit problem government created, resulting in tighter credit, reduced consumer debt, greater savings and more investment in industry that actually produces exportable goods that increase US wealth and reduce our debilitating trade deficit. But, motivated by its own short-term interest, Congress did the opposite: it rewarded real estate risk takers, penalized conservative investors, paid-off political supporters and encouraged greater consumer spending of borrowed money. The scheme is buying Congress the extra time it needs to pass socialist legislation before its mother-of-all-Ponzi-schemes collapses, and before Obama's followers finally learn they were exploited…the hard way.

The Obama administration projects deficits will total $9.1 trillion over the next decade unless corrective action is taken

If this were not so frightening it would be hilarious. The Federal Deficit reaches an all-time high of $1.42 Trillion, and the Obama Administration projects that deficits will total $9.1 TRILLION over the next decade unless corrective action is taken. Corrective action? To correct precisely the problem that they knowingly, single-handedly created with T.A.R.P.? These people are shameless!

"We The People Stimulus Package"
"Bob Basso author of "Common Sense" plays the role of Thomas Paine to ignite the fire of change in America. Patriotism and Pride for America lead Thomas Paine to help take back America!"
The White House Fires a Watchdog
White House fired a public official who refused to roll over to protect a Presidential crony.
Economists Against the Stimulus
200 economists, including some Nobel laureates and other highly respected scholars, who "do not believe that more government spending is a way to improve economic performance
United States of Goldman Sachs
This is one of the scariest and most informative videos we've seen. Should be required viewing for every American!
Got an economy problem? Ask an economist (NOT a politician, particularly one with zero private sector experience AND a conflict of interest).

"The Cato Institute, a Libertarian-leaning think tank based in Washington DC, has purchased full page ads running today in major newspapers across the United States, in which they counter President Obama’s assertion that 'economists from across the political spectrum agree' on the need for massive government spending to stimulate the economy."

Obamanomics' War On Business Will Strangle Economic Recovery
"In a capital that's at partisan loggerheads, both Democrats and Republicans increasingly agree on one issue: The Obama "stimulus" plan has so far failed to provide the jobs and spur the economic growth that the President promised."
Letter from a Dodge dealer
Financially healthy dealership is forced out of business by the government and its assets seized and given to another dealership without just compensation.
Fannie Mae Eases Credit to Aid Mortgage Lending
A September 30, 1999 New York Times article that shows where the seeds of destruction were planted that became the mortgage and banking crisis
Max Keiser takes offense to Goldman Sachs story
Max Keiser, independent financial analyst calls Goldman Sachs "financial terrorists"
How the ‘stimulus’ hurts the economy
"Not much has come from the government's spending plan. Not much, that is, aside from skyrocketing unemployment rates and astronomical increases in government debt."
Bailout watchdog barks over $24 trillion
Brooklyn Rep. Ed Towns, DEMOCRATIC chairman of the House Oversight Committee.
"How can Treasury commit ...trillions — of taxpayer dollars but not ask recipients what they're doing with the money?"
Property Rights Trumped By UAW In First Episode Of Gangster Gov't
[The White House] is setting aside basic property rights in favor of rewarding the United Auto Workers for the support the union has given the Democratic Party.
Could release of Federal Reserve documents cause panic?
Nicole Kardell, legal analyst, discusses the lawsuit that will force the Federal Reserve to disclose information about who received emergency bailout money.
Yet another hard-to-believe example of hideous government waste
John Murtha Airport in Cambria County, Johnstown, PA, has received $150 million of taxpayer money through the Federal Government over the last 10 years, due to the dealings of PA Congressman John Murtha (D-12th District).



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