TARP Trap

I've several times seen that many people think that Obama signed TARP, whereas it was actually Bush. I suppose it causes them a bit of cognitive dissonance when they find out that the guy they liked did something they didn't like. It's much more comfortable for them to believe that Obama did it.

To me, it's got to start with Was TARP a good idea? Some of the folks who think Obama did it would say no; that a better idea would have been to reduce taxes further. I've yet to see any suggestion as to how this would have been a good thing, but since my copy of Funny Times just arrived today, perhaps it's in there. I think that it was a good idea, though there were serious problems with its execution. Same thing for the bank bailouts. It would have been nice had they been able to do that without enriching the slimeball greedheads, I mean, professional bankers, running that show. But it had to be done. I suppose that those opposed to TARP didn't like that idea either.

I will occasionally see people saying that it would have been better just to transfer the money directly to them, either via a check or a reduction in taxes. If that had resulted in job creation, I might have agreed with them. Precious few people can say that they can create a job, though.

People such as Palin and Beck are busily saying that things would have been better, sooner, had their recommendations been followed. Were it not for the fact that we'd have wanted to move somewhere else, quickly, so as to avoid the economic train wreck, it would almost have been worth letting them try.

It wasn't done elegantly or clearly, but it was a good thing. Now let's just see the Democrats try to get that message out in a believable manner to people who are still hurting.