Comments for TARP Martyrs: The Post Mourns Politicians Who Lost for Helping the Banks at http://www.cepr.net , comment 1 to 7 out of 7 comments http://www.cepr.net Tue, 18 Jun 2013 16:31:06 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/beat-the-press/tarp-martyrs-the-post-mourns-politicians-who-lost-for-helping-the-banks#comment-2788 Tucked away in our [url=http://www.timberland4you.co.uk/]timberland for you[/url] subconscious is an idyllic vision. We see ourselves on a long trip that [url=http://www.timberland4you.co.uk/Men's-6-Inch-Timberland-Boots/Men's_Blue_Timberland_6-inch_Boot.html]timberland 6 inch[/url] spans the continent. YQ - timberland for you Fri, 10 Sep 2010 22:48:18 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/tarp-martyrs-the-post-mourns-politicians-who-lost-for-helping-the-banks#comment-1337 "The point is this is one of the most important irrevokable economic decisions we will ever make. Let's make it in a state of panic." said who? http://www.10zenmonkeys.com/2008/09/24/25-harshest-reactions-to-the-wall-street-bailout/ "Many people on both the right and the left are outraged at the idea of using taxpayer money to bail out America’s financial system. They’re right to be outraged, but doing nothing isn’t a serious option. Right now, players throughout the system are refusing to lend and hoarding cash — and this collapse of credit reminds many economists of the run on the banks that brought on the Great Depression." said Paul Krugman http://www.nytimes.com/2008/09/26/opinion/26krugman.html?ref=paulkrugman - AndrewDover Mon, 05 Jul 2010 15:15:34 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/tarp-martyrs-the-post-mourns-politicians-who-lost-for-helping-the-banks#comment-1336 My own tracking of certain data at the time was consistent with what the Minneapolis Fed wrote in their paper about the myths of the crisis. The only indication that the CP market was "shutting down" were the claims of Paulson, Bernanke et al; almost any firm could borrow at rates no higher than what was ordinary a few months earlier (highest-rated borrowers were not affected at all), and trading volumes never dropped off. Another fairy tale claim was that commercial banks had "stopped lending", which was again contrary to actual data on lending volumes (volumes did drop off later as the recession kicked in). Instead of looking at actual data, most economists with a public voice, as well as the media and Congress, bought into the propaganda, in a way reminiscent of the acceptance of government propaganda about the mythical WMD of Iraq. Dean Baker was about the only exception to this gullibility that I recall. - skeptonomist Mon, 05 Jul 2010 14:46:00 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/tarp-martyrs-the-post-mourns-politicians-who-lost-for-helping-the-banks#comment-1331 fantastic post! - d4winds Mon, 05 Jul 2010 08:13:47 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/tarp-martyrs-the-post-mourns-politicians-who-lost-for-helping-the-banks#comment-1329 The Fed had a contingency plan to take over the money center banks in the 80s when they were threatened by large amounts of bad debt in Latin America. It is inconceivable that it did not have a similar plan in place following the collapse of Bears Stearns in March. Don't be so sure there was a plan in place. This is the "Fed too stupid to see a 10 trillion dollar real estate bubble".[quote][/quote] - coriolis Mon, 05 Jul 2010 06:56:51 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/tarp-martyrs-the-post-mourns-politicians-who-lost-for-helping-the-banks#comment-1325 what is izzatzo talking about? - andy Mon, 05 Jul 2010 04:56:51 +0100 http://www.cepr.net/index.php/blogs/beat-the-press/tarp-martyrs-the-post-mourns-politicians-who-lost-for-helping-the-banks#comment-1324 [quote]In fact, there would have been a great benefit from this financial Armageddon in that it would let the market wipe out the fast dealing high flying Wall Street gang in a single blow.[/quote] Baker reveals his true colors, justifying the theory of creative destruction a la Hayek and Schumpeter, the only kind of competition worth having. Let private monopolies develop as much power as they like, because eventually they will become stagnant and suffocate in their own greed, toppled by the ongoing march and entry of new technology and innovation with fresh ideas that replace old ones. Note to teabaggers: A traitor has been discovered in the midst of progressives who is passing himself off as an Austrian. Go to Red Alert and reverse teabagger claims that TARP was a free riding giveaway bailout for banks which should have been allowed to fail. Change the official message to support for TARP that rescued the economy, after which he will emerge from the crowd like a black swan among the white ones and be easily detectable for capture. - izzatzo Mon, 05 Jul 2010 04:24:38 +0100