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TOPIC: "Treasury Secretary Timothy Geithner tackles five myths about TARP" (Timothy Geithner, Washington Post, 10/10/10)

Sanders

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Status: Offline

Posts: 4567

Date: Oct 9, 2010

"Treasury Secretary Timothy Geithner tackles five myths about TARP" (Timothy Geithner, Washington Post, 10/10/10)	Permalink

Read @ Washington Post I'll just itemize the 10 items that Geithner calls myths. The article is worth reading and making up our minds on each. There is a lot in there. MYTHS, per Geithner: 1. The TARP cost taxpayers hundreds of billions of dollars. 2. The TARP was a gift for Wall Street that did nothing for Main Street. 3. The TARP was a quick fix for the market meltdown but left our financial system weak. 4. The TARP worsened the concentration of the banking sector, leaving it more vulnerable to another crisis. 5. The TARP was the centerpiece of a strategy by President Obama to assert more government control over the economy. ============ It is a complicated topic and Geithner does a good reasoned job of trying to convince that these are myths. I'm inching in, but far from being fully convinced. We just have to imagine the precipice that this averted, I suppose. __________________ *Democracy needs defending* - SOS Hillary Clinton, Sept 8, 2010 Democracy is more than just elections - SOS Hillary Clinton, Oct 28, 2010 Madam Secretary Blog at ForeignPolicy.com Project Vote Smart - Stay informed and engaged!

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