“It is well enough that people of the nation do not understand our banking and money system, for if they did, I believe there would be a revolution before tomorrow morning.” Henry Ford, founder, Ford Motor Company
Lest we all forget, TARP (Troubled Asset Relief Program) was created and promoted by the Bush Administration as the sole method to bail out a corrupt banking industry by buying their overvalued sub prime paper. Our nation was presented with no other options besides TARP and too big to fail was the catch-phrase of the day.
TARP is the GOP turd that refuses to flush. And George W Bush and his GOP will always be remembered for TARP, especially its very secretive and non-transparent nature. In fact, the Bush-led GOP is responsible for pushing upon a relatively clueless public the utterly debatable necessity of “undisclosed TARP“.
That’s right. The Bush team gave us undisclosed TARP. At some point we’ve all wondered, why undisclosed? Perhaps because no one should have to raid the public coffers out in plain sight where everyone can see it happening? Perhaps because Bush needed to funnel some very significant funds to some very demanding foreign governments? And perhaps because you just can’t have those kinds of insanely large payments fully transparent? After all, what might the nation think?
Under Obama, the undisclosed aspect of TARP was quickly shown the door. It didn’t make things prettier. Not by a long shot. But it became more transparent. Which is always good.
As it now stands, however, the banks got happier, fewer, and larger…and now we are left with a banking monstrosity that is even too bigger to fail.
And nobody’s doing a thing about it….well, almost nobody.
Enter Elizabeth Warren, the senior United States Senator from Massachusetts, who is quite possibly the only person around with
balls big guts enough to reign in the banking industry. And as much as we thoroughly like Hillary (and, c’mon, who doesn’t?) we here at Leftista will lend our considerable praise to the groundswell that is the Warren 2016 movement.
The banks won’t like it. Money brokers won’t like it. The Koch brothers won’t like it. Mitt Romney and Paul Ryan won’t like it.
Which is exactly why Warren 2016 is what this country needs. Not necessarily what it wants, but definitely what it needs.