The bailouts worked – Really!
October 19, 2010
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Today’s USA Today opinion piece offers another voice acknowledging that the much despised TARP and auto industry aid program have been effective.
Of the $388 billion in TARP money that was spent, more than half has already been recovered, according to the latest Treasury Department report. What’s more, with GM looking healthier and even insurance giant AIG showing signs of life, it’s possible that TARP could turn a profit in the end. That would make it one of the best uses of federal tax dollars in memory.
I hated the fact that so many of those billions went directly into the pockets of greedy, already filthy rich executives. But it’s times to stop bashing the politicians who made their best effort at avoiding a worse catastrophe. There are plenty of reasonable experts who concur that the programs helped, especially economists Mark Zandi and Alan Blinder. Some other editorial views: