Simple.Originally Posted by Surferbeetle
You can do better, walk us through your points and display your mastery or understanding of the subject and positions you are advocating for.
1. TARP presented little to no risk to federal taxpayers (assuming it makes sense to talk about risk where it concerns taxes), either before or after the fact. The authorized expenditure for the entire program is less than the tax receipts returned by the top 1 percent, of which only $388 billion was dispersed. TARP certainly presented no risk at all to any person who didn't pay federal taxes, as they are not contributors to any account drawn on by the federal government. Finally, what sense does it make to talk about "risks" to taxpayers? A tax doesn't have a return. A bond, however, does, and the federal government can run deficits.
2. There is no evidence whatsoever that credit agencies improperly rated any MBS derived from subprime origination. Bill and Jarod confuse MBS rating with CDO rating.
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