Skeptic Project

I know that Democrats have used tax payer money for bailouts for the Wealthy/Rich my question is is this the first time that the Dems have done this ?

http://my.barackobama.com/page/content/myths-vs-facts-the-truth-about-tarp/</p>

* TARP repayments to taxpayers now total more than $250 billion.
* The CBO has forecast that TARP could cost taxpayers just $25 billion – a fraction of the $700 billion first authorized; and the New York Times noted that it “could end up costing... nothing.”
* As a result of TARP investments in American automakers and corresponding demands for industry reform and accountability, the U.S. auto industry as a whole is rebounding strongly, with thousands of jobs created and strong sales gains.
* AIG could turn a profit for taxpayers based on current market prices. The company’s return to the private debt markets also illustrates an important step towards its future independence.
* Washington Post editorial: “It is clear that TARP not only has been successful but, in a real sense, also a great deal for taxpayers.”
* Richard X. Bove, Rochdale Securities: “[TARP] may have been the most successful United States program ever ... The biggest winner in the TARP program was the American taxpayer. Not only did the program create a positive return to taxpayers but it reversed a decline in the economy which would have resulted in even more bankruptcies, lost jobs and wealth destruction.”

I disagree. The best person to clean up a mess is the person who made it.

matt, we aren't talking about spilt milk on the kitchen floor. why should CEO's that pretty much drove a company into the ground get to prosper from tax payer money instead of the money going back into the business?

kepp, that's only because you are a bunch of commies! if a company fails, it should be left to die and allow new companies to sprout (insert mises institute rant here).

While TARP likely prevented a second great depression, most Americans seem bitterly opposed to it. I mentioned to a friend of mine that I supported TARP, and he looked at me rather furiously. It is also unlikely Rand Paul would have been the Republican nominee for senate had he not proclaimed his opposition to TARP every 10 seconds during his campaign.

I tend to agree with Ez, although its not exactly unwarranted with the Citizens United ruling and the amount of money corporations can now pour into the political process anonymously. Some healthy skepticism and regulation is good, but taking a rigid anti-business stance is not.