Prudent Man CFA

The Failure of TARP and the Government's Solution

Government, especially the Fed, have proven they are part of the problem and are clueless about the solution. Like FDR in the thirties, where he turned a recession into a depression, the government is giving virtually everyone the idea that they will bail them out of their stupid, greedy mistakes. That, like FDR's CCC Camps, WPA, etc. exacerbate the problem instead of letting the Free Markets do what the do best: Self Correct?

This is all political hogwash! And, it has done more to set the economy back then add anything positive. If the money markets were frozen let them thaw on their own. The Free Market allows losers, thankfully.

I imagine few readers lived during the Depression as I did and so the destruction of self-respect, incentive and pride that FDR's polices resulted in. Who know where this country would be if Hitler didn't invade Poland. But one thing I am pretty sure of: We would be the over-consumptive country that we are. Hopefully this comeuppance will cure that deadly disease.