Monday, February 09, 2009

TARP is back

While the Democrats and the 3 Republicans are busy selling out our economic future, Americans get to watch the next version of TARP in action.

TARP 2.0 is in the hands of the Democrats and Barack Obama. Yes, we are back to buying bad loans and bailing out the banks.

On Tuesday, Timothy Geithner, the tax cheat heading the IRS, will roll out his plans to spend the remaining $350 billion of the $700 billion rescue plan.

I used to believe that there was no way possible for the Obama administration to spend the remaining $350 billion worse than the Bush administration spent the first $350 billion.

I used to believe that, until Barack Obama picked a known tax cheat, who "accidentally" forgot to pay his taxes, Timothy Geithner. The newly minted Secretary of the Treasure then proceeded to hire a high profile Goldman Sachs lobbyist as his chief of staff.

Men with zero credibility left, will be heading the bank bailout. Most of these guys involved in the Obama adminstration and tapped to fix the banking problems are all former bankers, Wall Street gurus, lobbyist and rich fat cats.

These are the fellows, including Timothy Geithner, that are charged with fixing the bank mess, that they themselves helped create.

TARP 2.0 is on its way. When that does not work, plans for TARP 3.0 are already being made to be rolled out sometime in late spring.

So how much will TARP 3.0 cost us?

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