TARP

TARP was never a popularly supported piece of legislation. And I've defended against attacks from both Liberals and Conservatives alike.  That's not to say that I ever LIKED the idea of what it stood for (from either a Liberal or a Conservative standpoint), but any understanding of what made the mortgage meltdown and subsequent Bush recession SO BAD, reveals the complete NECESSITY of something like TARP at the time.

And I no longer have any interest i discussing the details of this part of it or that part of it anymore.  There is no doubt that there was a lot of bullshit going on, and there always will be.  But to oppose it on any kind of PRINCIPLE? Like hating big corporate banks (Liberals), hating gov't spending (Conservatives) or hating the fact that we're Socializing (Conservatives) corporate losses (Liberals)... Well, all that's just foolishness. Because at the end of the day, this (or something like it) was necessary and, in a big picture sense, it WORKED, warts and all.

So while I have been defending from all sides as a necessary evil (and even "good" legislation in the sense of what it saved us from), I was only a little bit surprised just now too read that it may actually turn a profit, paying for itself and then some for taxpayers.  Now I couldn't care less if it ACTUALLY manages to one or not. Remember: That won't detract from my view that it was NECESSARY, for better or worse. But... (1) Who doesn't like a little gravy with their biscuits? and (2) It certainly goes to show how irrational the critics (regardless of ideology) are who are crying about how much it cost, and what a big waste it was.  Because not only did it save us from a far worse, longer lasting catastrophe (and thus remains as one of the few things George W. Bush did that DIDN'T turn into one!) but even if it fails to turn a profit as currenlty predicted? The loss will likely be minuscule in comparison to the amount of money originally outlaid, and the [largely phony] cost that people are assuming it ended up having.

Which might just end up being less than none.