Friday, December 12, 2008

TARP money for auto bailout

It makes perfect sense actually. The idea of TARP was to get the credit markets flowing again. Instead, the banks have taken our tax money and hoarded it, exacerbating the problem instead of improving it. Why not just skips the banks and loan the TARP money directly? Now whether loaning it to a possibly losing proposition like GM is a good idea remains to be seen, but clearly giving it to the banks has already proven to be a waste. I'd rather see the bankers that caused the housing crisis (and thereby the credit crisis) in the first place in the unemployment line than auto workers. And Rick Wagoner and Bob "global warming is a crock" Lutz too: they've gotta go.

That is all.