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TARP Hurting More Than Helping
Per The Office of the Special Inspector General for the Troubled Asset Relief Program…..
“Unless and until institutions currently views as “too big to fail” are either broken up so that they are no longer perceived to be a threat to the financial system, or as structure is put in place that gives adequate assurance to the market that they will be left to suffer the full consequences of their own recklessness, the prospect of more bailouts will continue to fuel more bad behavior with potentially disastrous results.” Jan 26, 2011 Quarterly Report of SIGTARP
To read the report to Congress yourself, visit this link….http://www.sigtarp.gov/reports.shtml
So, what exactly does this mean to you?
Ultimately, what the Inspector General is saying is the government needs to get out of the business of preventing business from failing otherwise, we only have really 2 options. We either break up the business and not allow them to grow beyond a certain point or we some kind of assurance that they will be protected from failure.
Ok, so…..let’s drill this down a bit. I don’t really know how many of you want to see our government preventing business from growing, I know I don’t want to see this. Isn’t the American Dream built on the concept that the sky is the limit. Aren’t we as American exceptional because we don’t harness our free society and allow government to tell people, business that they can’t grow too big. Don’t oppressed people come to America to seek freedom, liberty and free markets where they can succeed based on how much work they put into their endeavors? Limiting the size of our free markets isn’t free by any definition. In fact, it’s communism.
What about assurances……wouldn’t it be nice that you could start a business and be assured that you can’t fail? As sweet as that may be, let me assure you, it would create a business environment of fraud, corruption and out right consumer abuse on a unprecedented scale like we have never seen. I don’t need to tell you this, you know this. Whatever happened to the idea that the greater the risk, the greater the potential return however, the greater the potential loss………….isn’t this a law of economics? What kind of people think a world where business can make whatever decisions they want and the tax payer would be there to bail their corrupt asses out every time is a good thing?
Let me just say it once again, GOVERNMENT IS NOT THE SOLUTIONS, GOVERNMENT IS THE PROBLEM.