TARP watchdog to Congress: TARP = Epic Fail

[DieselDragRacer]

deleted

wrong forum

 

[waveflyer]

Yeah- it is-But until they delete it-
an epic fail by politicians who didn't understand economics of the 1998 financial services modernization act.
How naive to think that wall street would do the right thing out of the goodness of their heart.
Massive consolidation after 1998 deregulation led to "too big to fail" - never forget that.
Capitalism only works when there are enough companies that noone gets too big to affect the system if they fail-
'trickle down/supply side econ' works if money is in enough individuals hands- If consolidated in too the hands of a few- they cannot spend enough-efficiently enough- and the theory falls
the devil's in the details-
you wouldn't play football with no rules, lines, or referees-
it's about appropriate/efficient regulation- too much or too little fails