Tuesday, September 14, 2010

TARP: Success that none dare mention - POLITICO.com


The fact that it stopped the catastrophic bleeding to one side, we are still confronted with two uncomfortable truths: 1. The mindset that fueled the sub-prime mortgage crisis is largely unchecked; and 2. There is still some question as to whether it would have been better in the long run to simply let the market evaporate Bear-Stearns, Lehman Brothers and AIG in one fell swoop. Capitalism being, after all, defined by Joseph Schumpeter as 'creative destruction." Regardless, a nice overview of post TARP realities.

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