TARP ... The Cost is What?!?!

As a reminder, the TARP was issued last year as part of Bush's plan to avoid absolute collapse when Bear Stearns and Lehman were failing/failed. It was pitched to us that the $700 billion would (a) be paid back and (b) that we would receive interest on our investment so we would most probably make money.

So now, as the payments are flowing back in from some of the steadier hands on Wallstreet we have Barney Frank wanting “[t]o use amounts made available under the Troubled Assets Relief Program of the Secretary of the Treasury for relief for homeowners and neighborhoods.” A guess this is a little payback to ACORN for getting out the vote--or should we say--getting out the illegal vote.

Now, according to Bloomberg, "U.S. Rescue May Reach $23.7 Trillion" for TARP spending. "Costs include $2.3 trillion in programs offered by the Federal Deposit Insurance Corp., $7.4 trillion in TARP and other aid from the Treasury and $7.2 trillion in federal money for Fannie Mae, Freddie Mac, credit unions, Veterans Affairs and other federal programs ..." It's only TRILLIONS of dollars, folks; nothing to get worried about.

Great, just great! Not to paint everyone with the same brush, buuuuuttt, many of these politicians went to the top schools such as Yale and Harvard ... and this crap is what they learned? Refund anyone???