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    Who are the NERD fund donors Mr Snyder?

    Raise the curtain.

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    There every evidence that absent TARP, (none / 0) (#12)
    by Sway21 on Thu Feb 09, 2012 at 03:13:29 PM EST
    or some similar action, that the American financial system may well have collapsed. As the Williamson article points out, we have only history on our side in having rightly feared the consequences of doing nothing. It is quite easy to criticize it without any real knowledge of what would have happened in its absence, as well as intellectually dishonest, for neither you nor I have any certainty of what would actually have happened were it not passed. It's like claiming that the USSR would have collapsed absent the pressure of the Cold War; a plausible theory that was not available for implementation by rational people at the time.

    The bailout of Detroit, using TARP funds, is illustrative of the deficiencies inherent in crafting legislation in times of crisis, no matter how necessary. Blaming Hoekstra for it is disingenuous and not really credible.

    Cash for clunkers was a not-very good idea, but understandable, and no worse than a myriad of other little noticed ideas, such as tax credits for energy-efficient furnaces and the like, that government distributes willy-nilly still today. That the entire tax code, its incentives and disincentives, needs overhaul should not be in debate, and certainly not on these pages. That Hoekstra would not be a firm advocate for doing so is a position in search of evidence.

    Rather than merely repeating allegations, I'd be far more interested in a response to the points made in the Williamson article, and what evidence there is against it.


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