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    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

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    SB Ad/TARP (none / 0) (#10)
    by Sway21 on Thu Feb 09, 2012 at 12:13:32 PM EST
    I found the ad a bit simplistic and designed to pander to a constituency not exactly conservative. That it has been effective is not in doubt, for the usual suspects perceiving their ox gored, are screaming bloody murder. While not the most economically or fiscally honest ad, it does leave the viewer with the unmistakable impression of Stabenow as a big spender, while playing on the fact that China's economy has been growing while ours has been flat. And that is the issue, is it not?

    Conservatives, and libertarians, do themselves no good service in harping on TARP, particularly since few of them actually faced having to make a vote with the nation's financial system hanging in the balance. Hindsight is reputed to be 20/20 but even with it, it is not clear than the financial markets wouldn't have collapsed absent something like TARP. And a broad consensus of economists, of all political stripes, agreed on the matter. Focusing on TARP does far worse than that; it serves then to ignore what caused the problem in the first place and how those fundamental conditions, caused by government, have not changed. That's the real issue; government spending and regulation.

    Even some, of a libertarian bent, such as Kevin Williamson of National Review, have had cause to revisit the issue and consider it in a different light. Below, a persuasive case made for Milton Friedman supporting TARP:

    The enduring problem isn't TARP, it's what led up to TARP and remains unreformed today. "Too big to fail" has now been etched into stone, instead of being eradicated as claimed by Dodd-Frank proponents. Lending is stagnant because banks, rightly so, fear whatever crazy idea the federal government will adopt next. We still await meaningful financial reform that will prevent another occurrence such as the recent meltdown and address its underlying causes. That, not TARP, is the real issue. Focusing on TARP is akin to pointing out the cost of the bandage while ignoring than the skin it covers is a carcinoma.

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