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      09-02-2009, 07:32 PM   #27
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Originally Posted by Nixon View Post
In the spirit of getting down to the issues, let's get back to the substance of one of the valid points/questions that you had closed your mind to earlier. I think we agree that the dead bill that started this thread currently has no merit because right now TARP money is currently being paid back with up to 15% interest. But what is your response to the following statements?
What percentage of the money has been paid back? Do you have those numbers? Will AIG ever pay back the 180 Billion they have taken?

Originally Posted by Nixon View Post
1) That the money spent saved the free market from massive collapse due to the market's inability to avoid collapse itself.
Too early to tell. Throw enough money at a problem and it will look OK for awhile. What will happen in the years ahead is speculation at this point. I lean toward the idea that TARP and other measures have delayed the inevitable and perhaps prolonged the problem to ultimately make it worse. It also set a precedence that is antithetical to my beliefs about the role of U.S. government.
Originally Posted by Nixon View Post
2) That there is a VALUE of keeping our banking system from collapsing that is just as much a part of the equation as dollar-for-dollar returns.
Some institutions should perish. Then the stronger institutions will survive. I don't wish for the big banks to fail, but I would rather they fail than put the entire populace into an impossible debt. There are many speculations and projections about where the crisis can lead. It has been too many years a patch the balloon and reinflate it mentality. Painful as it may be, maybe it's just time to start over.

I advocate a constitutional form of government. In practice, this does not exist in America today.
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