Tuesday, September 1, 2009

Banks repay tarp and it makes little noise

Remember all the outcry about breaking the budget?

All the concern about propping up banks that will fail anyway? How we would need another round of bank bailouts inevitably?

Now when many of the banks are repaying their loans. There is pretty much silence, and on to another "problem".

That's politics for you.

If a plan works, you don't get blamed for it's failure, and you have to deal with other problems.
If it fails, then you have to deal with all the critics who were proven right.

There is very little benefit in doing the right thing correctly.

I don't know what will happen tomorrow but as of today, the Bush and Obama team deserve credit for the Tarp program.

Those who will criticize future failure should recognize this success right now and get some credibility.

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