The TARP (Troubled Asset Relief Program) is already, albeit very quitely, out of hand. Larry Kudlow of The Kudlow Report on CNBC has very interesting discussion of the subject with famed economist Arthur Laffer, co-author of The End of Prosperity, former FDIC chair Bill Seidman and Peter Morici, economics professor at the University of Maryland.
For those who are arm chair quarterbacking this whole bailout thing, this would be a great discussion to wet your whistle. It also illuminates the basis of the what would generate the tea parties, highlighting how the governmental strong arm takeover of the banks is not behaving as it was indicated to us taxpayers it would.
The discussion also touches on Detroit, and how the "takeover" of GM will provide a vehicle for government to issue some sort of mandate for the company to produce cars the government want us to drive, not those we want to drive. This will quickly make this lifelong GM guy ask himself if he has driven a Ford lately?
Can you imagine fraud in the Congress? The discussion also questions an editorial in the Baltimore Sun, where it is outlined that some 20 criminal probes concerning TARP have been opened.
Take ten minutes out of your day to listen to Kudlow lead this worthwhile discussion with three top notch guests:
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