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Bush on TARP: 'Absolutely' Would Do It Again. (VIDEO)
Video ^ | 11/3/2010 | ButAsForMe

Posted on 11/03/2010 7:28:34 PM PDT by wrrock

George W. Bush is on book tour and sat down with Matt Lauer. Here is what was said about TARP:

WATCH VIDEO...

Lauer: You went with the TARP Program.

Bush: We did.

Lauer: A lot of people now call it the bank bailout and they hate it.

Bush: Yeah, they do hate it. I can understand that. Look, the idea of spending taxpayer's money to give to wall street and the banks, to save them, a lot of people think they created the crisis in the first place. So I can understand the angst. But in my case, I wasn't worried about angst, personal angst, or contradiction, I was worried about the economy going down. And I believe TARP saved the economy.

Lauer: If you were president again and TARP came up again, you would do the exact same thing?

Bush: Absolutely, given the same circumstances. The other thing about TARP that people forget is we structured it so that the gover... the people would be repaid with a really good rate of return. And it turns out, that aspect of TARP, that's what happened.

(Excerpt) Read more at butasforme.com ...


TOPICS: Business/Economy; Government; Politics
KEYWORDS: bailouts; bush; bush4biggovernment; bush4fascism; bush4obama; marxist; rino; tarp; taxes; vichy; vichyrino

1 posted on 11/03/2010 7:28:39 PM PDT by wrrock
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To: wrrock

FUGWB!


2 posted on 11/03/2010 7:29:34 PM PDT by rabscuttle385 (Live Free or Die)
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To: wrrock

So TARP was really just a big loan and the taxpayers have been paid back with a really good rate of return, right?


3 posted on 11/03/2010 7:30:28 PM PDT by ilovesarah2012
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To: wrrock

We know George we know.


4 posted on 11/03/2010 7:31:14 PM PDT by HerrBlucher (Defund, repeal, investigate, impeach, convict, jail, celebrate.)
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To: wrrock

TARP money was paid back
Dumbo’s GM gifts, yes plural,are not required to be paid back as we were told they would....just another DUMBO write off at our expense as the FED digs deeper and deeper


5 posted on 11/03/2010 7:31:25 PM PDT by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: wrrock
Go away George.
6 posted on 11/03/2010 7:33:52 PM PDT by US Navy Vet
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To: wrrock

GW Go away enough!! The Tarp was BS let the system work.


7 posted on 11/03/2010 7:35:48 PM PDT by Cheetahcat (Zero the Wright kind of Racist! We are in a state of War with Democrats)
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To: wrrock
Sadly, I can easily believe he said it


8 posted on 11/03/2010 7:36:24 PM PDT by ChildOfThe60s ( If you can remember the 60s....you weren't really there)
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To: wrrock

TARP was the WORST thing he did as president, right there with his illegal alien amnesty plan. If he would have done those during his first term, I would have had a very difficult time voting for him again.


9 posted on 11/03/2010 7:36:32 PM PDT by KoRn (Department of Homeland Security, Certified - "Right Wing Extremist")
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To: wrrock
Bush on TARP: 'Absolutely' Would Do It Again.

Absolutely lol...

10 posted on 11/03/2010 7:37:44 PM PDT by dragnet2
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To: wrrock

I remember seeing the fear in this man’s eyes back in September 2008. It was genuine and it frightened me to see that it was there. Unfortunately what the man should have been fearing was those who were advising him. He should have surrounded himself with Austrians.


11 posted on 11/03/2010 7:38:14 PM PDT by TheVitaminPress (as goes the Second Amendment . . . so goes the Constitution.)
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To: wrrock
This is interesting on many levels. I've wondered what GWB's hindsight on TARP is. I wondered if he knew or was he duped (by Paulson & Co.). This makes it clear that he understood TARP completely.

I'm glad to read this excerpt here, rather than have to suffer through Matt Laaaaauer or buy the book.

So, GWB's fuzzy math justifies TARP...that's a shame.

12 posted on 11/03/2010 7:39:58 PM PDT by Jane Long (2 Chron 7:14)
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To: wrrock

I’ll reserve judgement until I see GWB’s book sales up against Sarah’s. This country is on its knees begging for a leader. It ain’t another bush or establishment type. Do you hear me?


13 posted on 11/03/2010 7:42:32 PM PDT by gatorhead
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To: wrrock
Still no concept of how the Constitutional Republic is supposed to operate.

Sad.

Still, I'd take Bush's ignorance over Obama's focused evil in a heartbeat.


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

14 posted on 11/03/2010 7:43:22 PM PDT by The Comedian (I really missed you. Next time, I'll adjust for windage.)
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To: wrrock

Still won’t control the border either.


15 posted on 11/03/2010 7:46:00 PM PDT by Paladin2
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To: HerrBlucher

Thanks for your service now please go away and take Mr Potato head with you...


16 posted on 11/03/2010 7:46:17 PM PDT by USSR Didnt Fall
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To: Doogle

How about the GWB cash thar went to GM?

Has that been paid back?


17 posted on 11/03/2010 7:47:33 PM PDT by trumandogz
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To: wrrock

Once a dork always a dork.... Karl wasnt his brain he stole his brain


18 posted on 11/03/2010 7:52:20 PM PDT by Breto (never accept the premise)
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To: rabscuttle385

Totally!

FUGWB!!!!

Go back to Texas. I ain’t buying your book either and I have not to many fond memories of you cave that terrific speech you gave in NYC after 911.


19 posted on 11/03/2010 7:54:53 PM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: Doogle

link for the GM story about no requirement to pay back?


20 posted on 11/03/2010 7:55:43 PM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: trumandogz
The GM payback was just a TARP money shuffle.
21 posted on 11/03/2010 7:56:29 PM PDT by smokingfrog (Because you don't live near a bakery doesn't mean you have to go without cheesecake.)
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To: KoRn

The George W. Bush we saw after 2004 was the REAL George W. Bush in all of his RINO/Country Clubbishness.


22 posted on 11/03/2010 7:57:36 PM PDT by US Navy Vet
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To: wrrock

How badly would the economy have tanked without tarp?
Anyone care to guess? How many people would have lost
a lot of their life savings, how many major banks would
have gone under when people started withdrawing their
money because they had lost confidence in the system?
How much worse would uenmployment have gotten? To what
level would the stock market have plummeted? Think the
stock market would be at 11,000 today had we not passed
TARP? Questions you may want to consider.


23 posted on 11/03/2010 8:00:58 PM PDT by psjones (u)
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To: wrrock

24 posted on 11/03/2010 8:06:58 PM PDT by Diogenesis ('Freedom is the light of all sentient beings.' - Optimus Prime)
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To: wrrock

all dates, 2008

http://www.globalresearch.ca/index.php?context=va&aid=11236

July 30: President Bush signs a housing bill including $300 billion in new loan authority for the government to back cheaper mortgages for troubled homeowners.

Sept. 7: The Treasury takes over mortgage giants Fannie Mae and Freddie Mac, putting them into a conservatorship and pledging up to $200 billion to back their assets.

Sept. 16: The Fed injects $85 billion into the failing American International Group, one of the world’s largest insurance companies.

Sept. 16: The Fed pumps $70 billion more into the nation’s financial system to help ease credit stresses.

Sept. 19: The Treasury temporarily guarantees money market funds against losses up to $50 billion.

Oct. 3: President Bush signs the $700 billion economic bailout package. Treasury Secretary Henry Paulson says the money will be used to buy distressed mortgage-related securities from banks.

Oct. 6: The Fed increases a short-term loan program, saying it is boosting short-term lending to banks to $150 billion.

Oct. 7: The Fed says it will start buying unsecured short-term debt from companies, and says that up to $1.3 trillion of the debt may qualify for the program.

Oct. 8: The Fed agrees to lend AIG $37.8 billion more, bringing total to about $123 billion.

Oct. 14: The Treasury says it will use $250 billion of the $700 billion bailout to inject capital into the banks, with $125 billion provided to nine of the largest.

Oct. 14: The FDIC says it will temporarily guarantee up to a total of $1.4 trillion in loans between banks.

Oct. 21: The Fed says it will provide up to $540 billion in financing to provide liquidity for money market mutual funds.

Nov. 10: The Treasury and Fed replace the two loans provided to AIG with a $150 billion aid package that includes an infusion of $40 billion from the government’s bailout fund.

Nov. 12: Paulson says the government will not buy distressed mortgage-related assets, but instead will concentrate on injecting capital into banks.

Nov. 17: Treasury says it has provided $33.6 billion in capital to another 21 banks. So far, the government has invested $158.6 billion in 30 bank


25 posted on 11/03/2010 8:12:07 PM PDT by Talf
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To: psjones; wrrock

They broke contract law, violate the Constitution and you ask at what price?

Those BK companies would have been absorbed by their competitors.

There is no company to big that another company can’t swallow it.

While LCI didn’t go bankrupt they were swallowed by a much smaller competitor and wholesale supplier called QWEST.

They had no right to stick me with a bill for a meal I didn’t eat.


26 posted on 11/03/2010 8:15:45 PM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: The Comedian

Yup, the man responsible for the creation of Department of Homeland Security, the largest agency in the US federal government holding hands with Saudi Prince Abdullah.

27 posted on 11/03/2010 8:25:40 PM PDT by B4Ranch (Conflict is inevitable; Combat is an option. Train for the fight.)
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To: Talf
Bawney Fwagnk's actions (as the Bwanking Queen) should be "inserted" into your timeline.

(Pauwdon my lisp)

28 posted on 11/03/2010 8:26:25 PM PDT by skeptoid (The Road to Serfdom is being paved by RINOS)
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To: gatorhead

>I’ll reserve judgement until I see GWB’s book sales up against Sarah’s.<

How are book sales going to help you come to a decision?


29 posted on 11/03/2010 8:28:00 PM PDT by B4Ranch (Conflict is inevitable; Combat is an option. Train for the fight.)
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To: wrrock

This is why I don’t miss him.


30 posted on 11/03/2010 8:28:25 PM PDT by Soul Seeker ( I was there when we had the numbers, but didn’t have the principles.---Jim that leans conservDeMin)
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To: wrrock

This is why I don’t miss him.


31 posted on 11/03/2010 8:28:36 PM PDT by Soul Seeker ( I was there when we had the numbers, but didn’t have the principles.---Jim that leans conservDeMin)
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To: Vendome

http://reason.com/archives/2010/04/27/gms-phony-bailout-payback


32 posted on 11/03/2010 10:02:21 PM PDT by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: trumandogz

http://reason.com/archives/2010/04/27/gms-phony-bailout-payback


33 posted on 11/03/2010 10:04:03 PM PDT by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: Vendome

or this:

http://reason.com/archives/2010/09/07/obama-motors-ill-timed-ipo


34 posted on 11/03/2010 10:16:33 PM PDT by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: Doogle

Thank you very much.


35 posted on 11/03/2010 10:26:00 PM PDT by Vendome (Don't take life so seriously... You'll never live through it.)
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To: TheVitaminPress

Amen!


36 posted on 11/04/2010 2:42:26 AM PDT by fortheDeclaration (When the wicked beareth rule, the people mourn (Pr.29:2))
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To: wrrock

“....the people would be repaid with a really good rate of return. And it turns out, that aspect of TARP, that’s what happened.”

We are getting paid back? AIG, GM, GMAC, Freddie, Fannie and 14 Trillion in Debt and we’re getting a good rate of return? The Feds are going to devalue My spendable income by 20% and we are getting a good rate of return?

Thanks, Career Politicians, The Elected Elite, for putting us in financial dire straits.


37 posted on 11/04/2010 3:21:02 AM PDT by steveab (When was the last time someone tried to sell you a CO2 induced climate control system for your home?)
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To: psjones
I have often thought about what GWB did with TARP. And the flames and fires that be in saying this...

He recognized it was a government policy issue that caused/created impending bank meltdown.

He also recognized that overseas foreign entities played the system, set the system up, and was ready to pull out the cards and watch them fall.

If you go back and read the statements he made about signing TARP, about it being against his principles and needing to do it anyway.

I destroyed the system, in order to save the system.

I believe he was trying to tell us something, something that for whatever security reasons he could not just come straight out and say.

It was a world financial strategic chess game and somebody had just checkmated the United States.

Yes, he gave us TARP. If TARP was all they did, it would have been enough. If the following congress & administration had indeed followed the plan, we would be in real recovery...instead of impending collapse.

It was all the shenanigans that came after TARP, that the dems. heftily and in lofty arrogance foisted upon the American people that were very bad moves.

It was the destruction of Capitalism and the temptation of power which Keynesian economics creates to blame for where we are today. Bush expected us, yes us, to do what American's always do when faced with difficult times. Instead we swept into office marxists, communists, and progressives. On November 2nd, we decided to "fix that" strategic mistake.

TARP was strategically required for security reasons. I repeat, I believe that with my whole heart. We may never know the full details, but I believe former President Bush did the right thing at the time.

38 posted on 11/04/2010 4:01:42 AM PDT by EBH
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