Monday, April 4, 2011

TARP Made a Profit

Believe it or not, we're in the black on TARP. It wouldn't have if the the Obama Administration hadn't reformed the program after taking office and also demanded it be paid back.

From Andrew Sullivan:

...I sure didn't expect the government to make a profit from TARP. And I sure didn't expect the auto bailouts to become such huge successes. What's surprising to me is how pallid is the Obama administration's spin has been on this. I never hear them bragging about how they managed to pull us out of the economic nose-dive we were facing. I know why: the recession isn't over, even if TARP was a success, no one wants to hear about it, etc. But it's one of the strongest and least valued part of Obama's record - along with the cost control innovations in health insurance reform.
At some point, you have to stand up and defend your record. No doubt Obama is biding his time on this. But count me as surprised as I am impressed.

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