Was the "Credit Crunch" a Myth used to Sell a Trillion-Dollar Scam

// added January 05, 2009 // 8 comments //
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geneonlbk

http://www.truthout.org/123108D?ref=patrick.net

Even as the media continue to repeat the claim that credit has frozen up, evidence has emerged suggesting the entire story is wrong.

There is something approaching a consensus that the Paulson Plan -- also known as the Troubled Asset Relief Program, or TARP -- was a boondoggle of an intervention that's flailed from one approach to the next, with little oversight and less effect on the financial meltdown.

But perhaps even more troubling than the ad hoc nature of its implementation is the suspicion that has recently emerged that TARP -- hundreds of billions of dollars worth so far -- was sold to Congress and the public based on a Big Lie.
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  2. tags:
    Economy,  Robbery,  Big Money,  Paulson,  3 more

8 comments // Was the "Credit Crunch" a Myth used to Sell a Trillion-Dollar Scam

  • Ihatethemall
    • 0
      Ihatethemall  

    • the democrats are just as much to blame. Until you people wake the hell up and realize that all politicians are lying thieving bastards that would sell us down the river, {and they already have} when there is a profit to be made. party affiliation has nothing to do with it... I_HATE_THEM_ALL

    • 1 year ago
  • JohnA
    • 0
      JohnA  

    • Yes, it was. My father was a banker. Banks make their money by making loans. It's what they do, it's their business. If you have a good credit rating and collateral you can get a loan. The only people who can't get a loan are people who shouldn't have been getting them in the first place, which I don't see as a bad thing.

    • 1 year ago
  • gp5241
  • Picasso9000
  • BillCue
  • aliasone
  • geneonlbk
  • Ihatethemall

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