Is TARP A Criminal Enterprise?

Larry Kudlow seems to think so.




Donald Luskin is asking a lot of penetrating questions.

With this much money floating around, there is a way better than even chance that there are a whole host of shenanigans going on. And a lot of people getting rich off of your tax dollars.

The only hope is that this thing will really blow up and take the whole crowd down (see below).

Update: After watching the the segment again, I should add that Julian Epstein is probably right that Luskin is, in fact, making a "constitutional point". But the real issue here is whether there is the flexibility in the TARP legislation to allow the government to buy bank shares with the money.

I don't know. But if there isn't, and more and more prosecutions come down the pike, this could be a very big mess for Messieurs Obama and Geitner.

2 comments:

Patrick Henry

10:39 PM

Good grief, how could you watch that? I am so very tired of these supposed experts that say it is better to mess with economy and then mess with it some more and some more thinking they can fix it?

We let the airlines go into Bankruptcy protection post 9/11 and though it was painful times they mostly emerged stronger because the administration allowed them to fail and follow the proper restructuring programs already laid forth by law. Why did we not allow the same of the car makers? As a taxpaying, share holder of the USA Inc i can tell you i do not want to own 1/2 of GM. If I am a major shareholder of GM I sure as hell do not want to have 1/2 of my company owned by USA Inc. it is a marriage made in Hell. To top it all off, we have C.E.Obama leading both. Hmm, let's see, what company had Mr. Obama ever run?

If anybody can explain to me why anybody thinks this is a good thing I am surely willing to listen.

Jake

8:17 AM

Obviously I succumbed to the bait ("criminal enterprise") and just wanted to put that out there. The one hope we have is that because there is so much money floating around, so many people will be grabbing for it that all these government programs will eventually be seen as totally corrupted. Then the silly Dems will be taken out of government and we get back to our lives.